Plastic Jungle operates an online gift-card marketplace where users can sell unredeemed gift cards for up to 92 percent of face value or purchase gift cards at significant discounts. The San Jose, California–based company says it exchanged "hundreds of thousands" of gift cards and "tens of millions" of dollars of gift-card value across roughly 400 brands in 2011. Plastic Jungle has previously raised more than $23 million from investors including Jafco Ventures, Shasta Ventures, Redpoint Ventures and First Round Capital. It recently received a strategic investment from Citi Ventures; the size of that capital injection was not disclosed. The 2011 exchange metrics indicate early operational scale across a broad set of brands. Plastic Jungle operates an online marketplace that lets consumers buy, sell and exchange gift cards. Users can receive cash for unwanted cards for up to 92% of the unused balance, trade value for Amazon gift cards, or donate proceeds to charity. Buyers can purchase gift cards at discounts of up to 30%. The company is pursuing partnerships with online retailers to embed its payment portal in checkout flows so shoppers can use credits from other stores to pay. Plastic Jungle reported rapid growth: former CEO Garry Briggs said revenue was eight times higher than a year earlier, and the company said it is on track to transact more than $10 million in gift card value in 2010. The business faces competition from CardPool and other rivals. Plastic Jungle operates a marketplace that lets users buy, sell and exchange gift cards online, and offers options to trade card value for an Amazon gift card or donate proceeds to charity. The site pays up to 92% of a card's unused balance for cash and lists gift cards at discounts of up to 30%. The company plans to use new funding to accelerate product development and to pursue additional ways to create supply and demand on the platform. While the company did not disclose revenue figures, CEO Garry Briggs says revenue is eight times higher than a year ago. He also said that "millions" of dollars have flowed through the marketplace since its launch two years ago. Plastic Jungle faces competition from CardPool and other secondary gift-card marketplaces. Plastic Jungle operates a marketplace for gift cards that lets users buy, sell and exchange gift cards online. The platform enables users to trade gift card balances for an Amazon gift card or donate the proceeds to charity. The company raised $4.8 million in a Series A led by Shasta Ventures with participation from Bay Partners, First Round Capital and Harrison Metal. It will use the funds to accelerate growth through new hires and increased marketing and business development efforts. The financing is intended to support customer acquisition and other growth initiatives.

Total raised

$22M

Funding rounds

4

Latest round

Series C

Latest activity

Nov 2010