DiscoveringStartups -Tech Startup Reviews

As the leading online gift card exchange, we offer a convenient, safe solution for consumers, as well as retailers and other ecommerce companies, to benefit from this previously untapped money. We buy unwanted gift cards for up to 92% of the verified balance, then sell them (up to 30% off) to highly motivated consumers, saving them money in a whole new way.

We offer free shipping for both buyers and sellers, and all transactions are guaranteed. We invite consumers to register all their gift cards to keep them safe. Then, if a card is ever lost or damaged in some way, we can help recover its value. Gift card holders also have the option to exchange an unwanted card for purchasing power at stores like Amazon.com, or donate it to a charity of their choice.

Plastic Jungle is the best way to sell, buy, exchange or donate gift cards online. We offer the most innovative, convenient and safest way to get the most out of gift cards. All transactions are guaranteed, and along with the best prices, Plastic Jungle offers industry-leading features such as helping you to replace gift cards in case they are ever lost or damaged. We also provide free shipping for all gift card sellers and buyers.

We’ve been delighting customers and working closely with retailers since 2006. We have a stellar team (if we do say so ourselves!), and we’re venture-backed – which means you’re in experienced hands, and we’re sticking around. But don’t just take our word for it… We encourage you to check around online and see what people are saying about their experiences with us.

Plastic Jungle is working on ways to make it even easier and more convenient to unlock the estimated $30 billion unredeemed gift card economy for the benefit of consumers as well as retailers and other ecommerce providers (patent pending). Stay tuned for exciting announcements to come!

The most surprising insight about gift cards is the size of the market. Each year, about $80 billion dollars are issued on store-specific (“closed loop”) gift cards. Of that amount, about 10% is unspent every year. It literally collects in the sock drawers of America. This money just accrues on the balance sheet of retailers such that an estimated $30 Billion (approximately 4% of all currency in circulation) sits idle, waiting to be spent at their stores.

A recent issue of Wired magazine features an article called “Money Wants to be Free.” It goes on to say “A new wave of financial upstarts is liberating your cash – and the economy.”

Plastic Jungle gets trapped money – in the form of unspent gift cards – moving again. As the Web’s premier gift card exchange, we offer a convenient, safe solution for consumers, as well as retailers and other ecommerce companies, to benefit from this previously untapped money.

We buy gift cards primarily from consumers (at a discount). Buyers purchase them (at a discount). Our revenue is the arbitrage between the acquisition and sale price. In 2009, revenue grew 400% Y/Y – just last week 2010 revenue outpaced 2009.

We are working to make it even easier and more convenient to further unlock the estimated $30 billion unredeemed gift card economy for the benefit of consumers and ecommerce providers (patent pending), which will create additional revenue streams.

No thoughts at the moment. Very interesting!

Please visit their website to learn more: http://www.plasticjungle.com