Online Gift Card Website Plastic Jungle Raises $10 Million

Plastic Jungle is an online marketplace for gift cards. The company has announced that they have raised $10 million in funding led by Jafco Ventures. Other investors include Redpoint Ventures, Shasta Ventures, First Round Capital, and Bay Partners. This brings their total funding to $23 million.

Plastic Jungle allows you to buy, sell, and exchange gift cards online. You can also trade in the gift card value for an Amazon.com gift card or donate the gift card to charity. Plastic Jungle also lets you trade in unwanted gift cards for up to 92% of the unused balance.

Plastic Jungle’s former CEO Garry Briggs said that revenue is eight times more than what it was one year ago. Plastic JUngle plans to transact over $10 million in gift card value this year.

[TechCrunch]

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