Plastic Jungle secures $4.8 million

Chris Caceres · May 26, 2009 · Short URL: https://vator.tv/n/890

Online gift card marketplace wants to accelerate growth and increase marketing efforts

 Plastic Jungle, an Online marketplace for gift cards, has secured $4.8 in Series A Preferred Stock Financing led by Shasta Ventures, with Bay Partners, First Round Capital and Harrison Metal.  

Clovis, Ca., based Plastic Jungle offers users an Online marketplace where they can buy, sell and trade their old or new gift cards. Plastic Jungle says it can save buyers up to 40% on gift cards from all sorts of big name merchants including Macy’s, Best Buy and even 7-Eleven.  The average discount seems to be about 10% when browsing around the site.  Users can also sell their cards directly in the marketplace or cash them in with Plastic Jungle for a maximum of 75% of the balance left on the card.

Gary Briggs, CEO of Plastic Jungle said, “We are entering a very exciting phase of our business and remain uniquely poised to create a new and more efficient market.” 

Plastic Jungle said it will use the round of funding to accelerate growth by hiring new people and increasing its marketing and business development efforts.  

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