Gift card marketplace Plastic Jungle snags $4.8 million
ADOTAS — The company, which runs a web site where you can sell, buy and exchange gift cards in a trusted environment, announced that it has secured $4.8 million in its Series A Preferred Stock Financing.
Led by Shasta Ventures with investments from Bay Partners, First Round Capital and Harrison Metal, the financing will allow Plastic Jungle to accelerate its growth through key new hires, as well as increased marketing and business development efforts. The site is for consumers who want to buy gift cards at substantial savings, sell them for cash, or trade pre-owned gift cards for others.
As part of the round, Plastic Jungle will add two new members to its board of directors including Tod Francis of Shasta Ventures and Josh Kopelman of First Round Capital. Existing board members include Gary Briggs, Plastic Jungle founder and Chief Operating Officer Tina Henson, and St. Bernard Software CEO Lou Ryan.
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