News Summary

New York-based Snappy, a corporate gifting platform, has announced its acquisition of Covver, a corporate merchandise gifting startup. The deal, involving a mix of cash and shares, aims to integrate Covver’s swag and company store solutions into Snappy’s platform, positioning it as the “swag channel.” Covver, previously backed by TLV Partners, offers AI-powered, personalized merchandise solutions, enhancing employee recognition and gifting experiences. This acquisition is part of Snappy’s strategy to expand its offerings in the $260 billion corporate gifting market. Snappy, which boasts clients such as Microsoft and Amazon, competes with companies like Sendoso and &Open in the corporate gifting space.