Cardpool, the San Francisco-based startup that lets people buy, sell and trade unused gift cards, has been acquired by Blackhawk Network, a wholly owned subsidiary of grocery giant Safeway. Details about the deal are scarce, but Cardpool co-founder Anson Tsai says his investors “are quite happy.” Read more »
Plastic Jungle, a Mountain View, Calif.-based company that runs a gift card exchange, says it has raised $7.4 million in a round led by Redpoint Ventures with participation from previous investors Shasta Ventures, First Round Capital and Bay Partners. The company raised $6 million in 2009. Read more »
The gift card business has nearly quintupled from $20 billion in 1999 to $100 billion in 2010. Along with the growth has come a unique problem: nearly $5 billion worth of cards go unclaimed every year. Cardpool, a San Francisco-based startup, wants to solve that problem. Read more »
