Completes Acquisition of Plastic Jungle - NEWS10 ABC: Albany, New York News, Weather, Sports Completes Acquisition of Plastic Jungle

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact


BRICK, N.J., July 30, 2014 /PRNewswire/ --, the world's largest independent marketplace for secondary gift cards, announced today that it has acquired the assets of Plastic Jungle, formerly a San Mateo, Calif.-based company backed by more than $25 million in venture capital. As part of the deal, will acquire Plastic Jungle's technology infrastructure, business partnerships and domain name,

"Plastic Jungle was an industry pioneer," said CEO Elliot Bohm. "They developed world-class technology and did invaluable work educating consumers about the hidden value of their gift cards."

"We're ecstatic to be able to use their expertise to help even more Americans unlock value from their unwanted gift cards."

The company expects to complete the full transfer of services within two months.

As a leader in the secondary gift card market, has experienced explosive growth in recent years. The company generated sales of $56 million in 2013, compared with just $16 million in 2012.

Annual gift card sales exceeded $113 billion in the United States in 2013, with nearly 10% of those cards going unspent. provides a simple and secure online exchange that helps consumers convert their unused cards into cash for as much as 97% of face value. Those in the market for gift cards, meanwhile, can buy gift cards to top national brands at a discount as high as 40%.
Founded in 2008, offers the country's largest and most secure selection of discounted gift cards online. The company was ranked #14 out of 100 on Forbes' list of America's Most Promising Companies for 2014. For two years running, Inc. magazine has included the company on its prestigious Inc. 500 list of the fastest growing private companies in America. raised $6 million in equity funding from Guggenheim Partners in November 2013.

CONTACT: J.J. Colao, 1-908-433-7940,

©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow

341 Northern Blvd., Albany, NY 12204

Telephone: 518.436.4822
Fax: 518.426.4792

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Albany, Inc. A Media General Company.