image thumb60 Lottay raises $475K in Series A, Appoints new CEO

Lottay, the startup founded in 2008 that makes it easy for people to send and receive gifts has made some major announcements today. The company secured a healthy $475,000 in Series A round of funding. That’s not it, the company also announced hiring its new CEO, Harry Lin. The ideology behind Lottay is to enable users to make most of sending and receiving gifts online with instant delivery of gifts, be it via email or through social networks like Facebook. Users can buy gifts using the Pay Pal and when the gift is sent, the receivers are free to take the same gift or grab anything else of their choice. Sounds interesting enough, I mean what if someone gifts me something I really dislike and my heart is somewhere else? This one is intended for exactly the same people who say it would have been better had they given us cash instead!