Startup launch service LaunchRock just announced that it has acquired Giftiki, a startup that allows friends to pool their money to buy more valuable gifts. The financial terms aren't being disclosed, but LaunchRock co-founder and CEO Jameson Detweiler tells me that the Giftiki service will be shut down. Judging from the tongue-in-cheek press release, this sounds like a classic acqui-hire, with LaunchRock acquiring the company for its team, not its product.Source: http://feedproxy.google.com/~r/Techcrunch/~3/uvnFMvzgsds/
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