Gift cards are a popular way to give presents, but many people receive cards they don’t use. Sometimes, these cards expire or get lost, leading to wasted money.
Seeing this issue, Kwame Kuadey came up with a solution, Gift Card Rescue. His company allowed people to sell their unwanted gift cards for cash. Others could then buy these cards at a discount. This created a win-win situation for both sellers and buyers.
Kwame believed his business had great potential, but he needed an investment to expand. So, he took his idea to Shark Tank, hoping to convince the investors, known as the Sharks, to support him. He asked for $150,000 in exchange for 30% equity in his company. Did the entrepreneur get a deal on Shark Tank? Check out our Voyage Air Guitar update to find out!
Gift Card Rescue Net Worth Shark Tank Update 2025
Kushal Chakrabarti went on Shark Tank asking for $150,000 for 5% of his company. This meant he thought his business was worth $3,000,000. He made a deal with Robert Herjavec and Kevin O’Leary for $200,000 for 50%, lowering the valuation to $400,000. The episode was aired on August 23, 2009. The company grew rapidly after the show but eventually shut down in 2016. The current net worth of Gift Card Rescue is $0 in 2025.
Appearing on Shark Tank gave Gift Card Rescue a lot of publicity. More people learned about the company and started using its services. The business grew quickly. In 2012, the company made over $6 million in sales. By 2013, sales increased to over $10 million. The business was doing well, and it seemed like Kwame had a bright future. However, as the company grew, it faced major challenges.
There were customer complaints about delayed payments and issues with verifying gift cards. Some people also felt the discounts offered were not good enough. On top of that, Gift Card Rescue had financial problems.
In 2016, the company’s bank account was frozen due to a default judgment from a lender. This meant Gift Card Rescue could no longer operate. Kwame tried to save the company, but the financial issues were too big to fix. Eventually, Gift Card Rescue shut down in 2016. Today, the Gift Card Rescue website no longer operates as the original company.
It has been taken over by a new owner, but it is no longer linked to Kwame. Since closing the business, Kwame has moved on to new ventures. When Kwame entered the Shark Tank, he asked for $150,000 in exchange for 30% equity in his company.
The Sharks found his idea interesting, but they had concerns about the risks and profitability. Kevin O’Leary and Robert Herjavec saw potential and offered $200,000 for 50% of the company. This meant Kwame would have to give up half of his business. After thinking about it, Kwame accepted the offer on the show.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Barbara Corcoran | Out | N/A | N/A |
| Robert Herjavec and Kevin O’Leary | $200,000 for 50% equity | N/A | Yes |
| Kevin O’Leary | $150,000 for 50% equity | $150,000 for 40% equity | No |
| Daymond John | Out | N/A | N/A |
| Kevin Harrington | Out | N/A | N/A |
Gift Card Rescue Shark Tank pitch
Kwame Kuadey is originally from Ghana, but he moved to the United States to build his career. He studied at Johns Hopkins University, where he earned his MBA. Kwame had a strong background in business and finance, which helped him develop Gift Card Rescue.
Before starting his company, Kwame noticed that many people received gift cards they never used. This led to billions of dollars in unused gift cards every year. Seeing this as a business opportunity, Kwame launched Gift Card Rescue in 2008.
His journey as an entrepreneur was not easy. He struggled to build trust with customers and had to work hard to create a reliable gift card exchange platform. Despite the challenges, he remained determined and eventually turned his idea into a successful business.
When Kwame entered Shark Tank, he confidently introduced Gift Card Rescue. He explained how the platform allowed people to sell their unwanted gift cards and receive cash in return. Buyers could also purchase these gift cards at a discount, making it a great deal for both parties. Many people receive gift cards they don’t use, which leads to wasted money.
Gift Card Rescue allows users to sell their unused gift cards and get cash. Buyers can purchase discounted gift cards. The company buys gift cards at 65-70% of their value and sells them at 90%, keeping a profit margin. Kwame emphasized that the gift card market was worth billions of dollars. He believed that his company had the potential to grow significantly. Keep reading our Gift Card Rescue update to see what happens next!
The sharks had several questions about the product.
Kevin O’Leary asked about the company’s sales and profitability. Lori responded that they had sold over 30,000 units in the previous year, generating more than $180,000 in gross revenue, with a net profit of about $50,000.
Daymond John inquired about the uniqueness of the product and potential competition. Lori explained that her stories were unique because they combined storytelling with proven relaxation techniques, setting them apart from other children’s books.
One of the sharks asked about the profit margins. Kwame shared that he typically buys gift cards at 65-70% of their value and resells them at 90%.
Kevin Harrington, Daymond John, and Barbara Corcoran were not interested in the business. They felt it was too risky or not a good fit for them.
Kevin O’Leary saw potential and offered $150,000 for 50% equity.
Robert Herjavec joined Kevin O’Leary in the deal, increasing the offer to $200,000 for 50% equity. Kwame accepted the offer on the show but later decided not to go through with it.
Product Availability
No, Gift Card Rescue shut down in 2016. While the website is still active, it is now under new ownership and has no connection to Kwame Kuadey. Kwame has since moved on to new business ventures.
Conclusion
Gift Card Rescue had a great idea and saw early success, but financial problems and operational challenges led to its closure. Kwame Kuadey’s journey shows both the opportunities and risks of running a business.
Even though Gift Card Rescue is no longer in business, Kwame’s entrepreneurial spirit remains strong. His story serves as a valuable lesson for aspiring business owners.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
