Successful CMOs achieve growth by leveraging technology. Join us for GrowthBeat Summit on June 1-2 in Boston
, where we'll discuss how to merge creativity with technology to drive growth. Space is limited. Request your personal invitation here
Plastic Jungle, a site where you can sell unwanted gift cards or buy those cards at a discount, has raised $7.4 million in a second round of funding.
I actually wrote about new site with a similar idea called CardPool just a few hours ago. Both CardPool and Plastic Jungle are part of a larger category of gift card marketplaces, which also includes Swapagift. One of Plastic Jungle’s more attractive features is the ability to not just sell a card for slightly less than the official dollar value, but also to receive a higher amount in the form of an Amazon gift card.
The Mountain View, Calif. company says that during the 2009-10 holiday season, it made 450 percent more revenue than during the same period in 2008-09. The site also reports that it saves $35 on average per buyer, and that sellers usually receive an average of $110 per card.
Plastic Jungle previously raised $6 million from Shasta Ventures, who also participated in the new funding. This round was led by Redpoint Ventures.
VentureBeat’s VB Insight team is studying marketing analytics...
Chime in here, and we’ll share the results.