According to tech news site Techcrunch, Wantful, a personalized e-commerce and gift-giving startup with offices in San Francisco and New York, decided to close shop. The company shut its operations down after not able to secure additional capital. Wantful Chief Executive John Poisson offered the reason that the company was not able to generate a "highly accelerated growth" that it needs to get follow-on investment. "As a startup, we were looking for additional capital. We looked to the venture capital markets, but didn't have the growth curve required as a post-Series A company."

Wantful had a list of high-profile investors such as Nordstrom, Polaris Venture Partners, Greylock, Harrison Metal and Forerunner. Angel investors who had placed capital in Wantful were Dave Morin, Arjun Sethi, Matt Mullenweg, among others. Its Series A funding raised a total of USD5.5 million.

At the time of closure, Wantful has 16 people in its payroll. Although operations had been suspended, Poisson said they will be "looking at all their available options" before closing shop entirely. He declined to disclose about the company's transactions, customer base and its revenue.