Monday, May 13, 2013

Plastic Jungle Pulls Back From Retail Market

San Mateo-based Plastic Jungle, the venture backed operator of an online gift card exchange and marketplace, has pulled back from the retail market. The company, in an email to customers, said that it we will no longer be buying and selling gift cards on its website, effective today. The company said, instead, that it will be working through its partners--such as Best Buy, CVS Pharmacy, Zeevex, and others--directly. Plastic Jungle is backed by Jafco Ventures, Shasta Ventures, Redpoint Ventures, Bay Partners, and First Round Capital.