Swaptree.com, a Boston, MA-based website that allows people to swap books, CDs, DVDs and video games, completed a $6m financing round.
The investment was led by Safeguard Scientifics, Inc. (NYSE: SFE), with participation from numerous private investors.
The new funds will enable the company to hire new professionals and to implement marketing initiatives focused on accelerating its growth.
This new round brings Swaptree.com’s total capital raised to date to $11.95m.
In conjunction with the funding, the company has neamed Jeff Bennett Chief Executive Officer (CEO) of the company.
Mr. Bennett was the Founder, President and Chief Operating Officer (COO) of NameMedia. Prior to NameMedia, he was Executive Vice President of Corporate Development and Vice President and General Manager of eCommerce at Lycos.
The company also announced that Carl Schwartz has been named VP of Marketing. Schwartz joins Swaptree.com with vast internet business experience, including positions at Cheapflights, Monster.com and Lycos.
FinSMEs
24/05/2010