Plastic Jungle, a San Mateo, California-based gift card exchange, has received a strategic investment (of undisclosed amount) from Citi Ventures, a unit of Citigroup.
The funding, which brings the total amount raised by the company to date to more than $20m (from Shasta Ventures, First Round Capital, Harrison Metal Capital, Redpoint Ventures, Bay Partners and Jafco Ventures), will help Plastic Jungle continue to accelerate its growth and continued innovation.
Led by CEO Bruce Bower, Plastic Jungle works in the secondary gift card market by allowing people to sell gift cards for up to 92% of their value or buy gift cards (at their favorite brands) for up to 35% off.
In 2011, the patent-pending marketplace exchanged hundreds of thousands of gift cards and tens of millions of gift card value across 400 brands.
The company’s team includes former eBay, Apple, Gap, Wells Fargo, Schwab, Visa, GE, Boku and Blackhawk executives.
Plastic Jungle is currently hiring (https://www.plasticjungle.com/jobs)
FinSMEs
19/01/2012
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