RedEnvelope wanted to do the choosing for you. The online gift shop picked the presents, wrapped them and shipped them in its signature red box. It built a brand on that packaging and on a hand-picked selection. When it went public in September 2003, e-commerce offerings were rare and investors were cautious. RedEnvelope was one of the few online retailers willing to test the market after the crash. It sold its shares through a Dutch auction.

Gifts for the Busy Shopper

RedEnvelope bet that busy shoppers would pay for a well-edited gift and a strong brand. It sold engraved keepsakes, home goods and holiday items, many of them exclusive. Catalogs drove much of its traffic. Free gift wrapping and personalized items set it apart from larger stores. The business was heavily seasonal. A large share of each year's sales landed in the weeks before Christmas.

The Last Delivery

RedEnvelope priced its IPO at $14 a share in September 2003 and listed on Nasdaq as REDE. High marketing and shipping costs kept a steady profit out of reach. In 2008 the company filed for bankruptcy. Provide Commerce, the parent of ProFlowers, bought the RedEnvelope brand and assets. The name lived on as a gift brand under its new owner, sold alongside flowers and other gifts.

Cover: Envelope with hibiscus, Utagawa Hiroshige. Art Institute of Chicago, public domain. Chosen for a decorated envelope with hibiscus (a gift).