<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType><periodOfReport>2003-09-24</periodOfReport>
    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001236038</issuerCik>
        <issuerName>REDENVELOPE INC</issuerName>
        <issuerTradingSymbol>REDE</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001069477</rptOwnerCik>
            <rptOwnerName>WESTON PRESIDIO CAPITAL III L P</rptOwnerName>
        </reportingOwnerId>
<reportingOwnerAddress><rptOwnerStreet1>Pier 1, Bay 2</rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>San Francisco</rptOwnerCity><rptOwnerState>CA</rptOwnerState><rptOwnerZipCode>94111</rptOwnerZipCode></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>1</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001214956</rptOwnerCik>
            <rptOwnerName>LAZARUS MICHAEL P</rptOwnerName>
        </reportingOwnerId>
<reportingOwnerAddress><rptOwnerStreet1>Pier 1, Bay 2</rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>San Francisco</rptOwnerCity><rptOwnerState>CA</rptOwnerState><rptOwnerZipCode>94111</rptOwnerZipCode></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>1</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001070958</rptOwnerCik>
            <rptOwnerName>WPC ENTREPRENEUR FUND L P</rptOwnerName>
        </reportingOwnerId>
<reportingOwnerAddress><rptOwnerStreet1>Pier 1, Bay 2</rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>San Francisco</rptOwnerCity><rptOwnerState>CA</rptOwnerState><rptOwnerZipCode>94111</rptOwnerZipCode></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>1</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001253726</rptOwnerCik>
            <rptOwnerName>WESTON PRESIDIO CAPITAL MANAGEMENT III LLC</rptOwnerName>
        </reportingOwnerId>
<reportingOwnerAddress><rptOwnerStreet1>Pier 1, Bay 2</rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>San Francisco</rptOwnerCity><rptOwnerState>CA</rptOwnerState><rptOwnerZipCode>94111</rptOwnerZipCode></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>1</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001073371</rptOwnerCik>
            <rptOwnerName>CRONIN MICHAEL F</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>PIER 1, BAY 2</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94111</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>1</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><derivativeTable><derivativeHolding><securityTitle><value>Series D Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F5" /></conversionOrExercisePrice><exerciseDate><footnoteId id="F1" /><footnoteId id="F2" /></exerciseDate><expirationDate><footnoteId id="F3" /></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>271290</value><footnoteId id="F4" /></underlyingSecurityShares></underlyingSecurity><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F6" /><footnoteId id="F7" /><footnoteId id="F8" /><footnoteId id="F9" /></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Series E Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F10" /></conversionOrExercisePrice><exerciseDate><footnoteId id="F1" /><footnoteId id="F2" /></exerciseDate><expirationDate><footnoteId id="F3" /></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>63071</value><footnoteId id="F4" /></underlyingSecurityShares></underlyingSecurity><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F6" /><footnoteId id="F7" /><footnoteId id="F8" /><footnoteId id="F9" /></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Series F Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F11" /></conversionOrExercisePrice><exerciseDate><footnoteId id="F1" /><footnoteId id="F2" /></exerciseDate><expirationDate><footnoteId id="F3" /></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>100864</value><footnoteId id="F4" /></underlyingSecurityShares></underlyingSecurity><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F6" /><footnoteId id="F7" /><footnoteId id="F8" /><footnoteId id="F9" /></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Series D Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F5" /></conversionOrExercisePrice><exerciseDate><footnoteId id="F1" /><footnoteId id="F2" /></exerciseDate><expirationDate><footnoteId id="F3" /></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>13503</value><footnoteId id="F4" /></underlyingSecurityShares></underlyingSecurity><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F12" /><footnoteId id="F13" /><footnoteId id="F14" /><footnoteId id="F15" /></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Series E Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F10" /></conversionOrExercisePrice><exerciseDate><footnoteId id="F1" /><footnoteId id="F2" /></exerciseDate><expirationDate><footnoteId id="F3" /></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>3139</value><footnoteId id="F4" /></underlyingSecurityShares></underlyingSecurity><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F12" /><footnoteId id="F13" /><footnoteId id="F14" /><footnoteId id="F15" /></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Series F Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F11" /></conversionOrExercisePrice><exerciseDate><footnoteId id="F1" /><footnoteId id="F2" /></exerciseDate><expirationDate><footnoteId id="F3" /></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>4976</value><footnoteId id="F4" /></underlyingSecurityShares></underlyingSecurity><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F12" /><footnoteId id="F13" /><footnoteId id="F14" /><footnoteId id="F15" /></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Series C Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F16" /></conversionOrExercisePrice><exerciseDate><footnoteId id="F1" /><footnoteId id="F2" /></exerciseDate><expirationDate><footnoteId id="F3" /></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>2086</value><footnoteId id="F4" /></underlyingSecurityShares></underlyingSecurity><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F17" /></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Series F Preferred Stock</value></securityTitle><conversionOrExercisePrice><footnoteId id="F11" /></conversionOrExercisePrice><exerciseDate><footnoteId id="F1" /><footnoteId id="F2" /></exerciseDate><expirationDate><footnoteId id="F3" /></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>792</value><footnoteId id="F4" /></underlyingSecurityShares></underlyingSecurity><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F17" /></directOrIndirectOwnership></ownershipNature></derivativeHolding></derivativeTable><footnotes><footnote id="F1">Immediately exercisable.</footnote><footnote id="F2">All outstanding shares of Preferred Stock will be converted into shares of Common Stock of the Issuer upon the closing of the initial public offering of the Issuer's Common Stock. </footnote><footnote id="F3">Not applicable.</footnote><footnote id="F4">Reflects a 1 for 11.71 reverse stock split of the Issuer's capital stock effected on September 23, 2003.</footnote><footnote id="F5">1 share of Series D Preferred Stock is convertible into 1.79828 shares of the Issuer's Common Stock.</footnote><footnote id="F6">The amounts shown represent the direct beneficial ownership of the Issuer's equity securities by Weston Presidio Capital III, L.P.</footnote><footnote id="F7">Weston Presidio Capital Management III, LLC is the sole general partner of Weston Presidio Capital III, L.P. and as such has an indirect interest in the shares held by Weston Presidio Capital III, L.P. Weston Presidio Capital Management III, LLC disclaims beneficial ownership of these shares except to the extent of its pecuniary interest therein. The actual pecuniary interest therein is not readily determinable because it is subject to several variables. </footnote><footnote id="F8">Michael P. Lazarus is a managing member of Weston Presidio Capital Management III, LLC, the sole general partner of Weston Presidio Capital III, L.P. and as such has an indirect interest in the shares held by Weston Presidio Capital III, L.P. Michael P. Lazarus disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. The actual pecuniary interest therein is not readily determinable because it is subject to several variables. </footnote><footnote id="F9">Michael F. Cronin is a managing member of Weston Presidio Capital Management III, LLC, the sole general partner of Weston Presidio Capital III, L.P. and as such has an indirect interest in the shares held by Weston Presidio Capital III, L.P. Michael F. Cronin disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. The actual pecuniary interest therein is not readily determinable because it is subject to several variables. </footnote><footnote id="F10">1 share of Series E Preferred Stock is convertible into 1.27197 shares of the Issuer's Common Stock.</footnote><footnote id="F11">1 share of Series F Preferred Stock is convertible into 0.98855 shares of the Issuer's Common Stock.</footnote><footnote id="F12">The amounts shown represent the direct beneficial ownership of the Issuer's equity securities by WPC Entrepreneur Fund, L.P.</footnote><footnote id="F13">Weston Presidio Capital Management III, LLC is the sole general partner of WPC Entrepreneur Fund, L.P. and as such has an indirect interest in the shares held by WPC Entrepreneur Fund, L.P. Weston Presidio Capital Management III, LLC disclaims beneficial ownership of these shares except to the extent of its pecuniary interest therein. The actual pecuniary interest therein is not readily determinable because it is subject to several variables. </footnote><footnote id="F14">Michael P. Lazarus is a managing member of Weston Presidio Capital Management III, LLC, the sole general partner of WPC Entrepreneur Fund, L.P. and as such has an indirect interest in the shares held by WPC Entrepreneur Fund, L.P. Michael P. Lazarus disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. The actual pecuniary interest therein is not readily determinable because it is subject to several variables. </footnote><footnote id="F15">Michael F. Cronin is a managing member of Weston Presidio Capital Management III, LLC, the sole general partner of WPC Entrepreneur Fund, L.P. and as such has an indirect interest in the shares held by WPC Entrepreneur Fund, L.P. Michael F. Cronin disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein. The actual pecuniary interest therein is not readily determinable because it is subject to several variables. </footnote><footnote id="F16">1 share of Series C Preferred Stock is convertible into 1.58158 shares of the Issuer's Common Stock.</footnote><footnote id="F17">The amounts shown represent the direct beneficial ownership of the Issuer's equity securities by Michael P. Lazarus.</footnote></footnotes><remarks></remarks><ownerSignature><signatureName>Weston Presidio Capital III, L.P.
By: Weston Presidio Capital Management III, LLC
/s/ Therese A. Mrozek
Chief Operating Officer</signatureName><signatureDate>2003-09-24</signatureDate></ownerSignature><ownerSignature><signatureName>Michael P. Lazarus</signatureName><signatureDate>2003-09-12</signatureDate></ownerSignature><ownerSignature><signatureName>Therese Mrozek, Chief Operating Officer of WPC Entrpreneur Fund, L.P.</signatureName><signatureDate>2003-09-16</signatureDate></ownerSignature><ownerSignature><signatureName>Therese Mrozek, Chief Operating Officer of Weston Presidio Capital Management III, L.P.</signatureName><signatureDate>2003-09-12</signatureDate></ownerSignature><ownerSignature><signatureName>Michael F. Cronin</signatureName><signatureDate>2003-09-12</signatureDate></ownerSignature></ownershipDocument>

