Swagbucks Raises $60M

Swagbucks_LogoProdege, the El Segundo, California-based company behind Swagbucks, an online rewards community, raised $60m in funding from Technology Crossover Ventures (TCV).

Led by newly named CEO Chuck Davis (previously executive chairman) and president Josef Gorowitz (founding CEO), Swagbucks provides brands, advertisers, and marketers with a platform to reward members for everyday web discovery activity – including searching, shopping, entertainment, discounted offers, surveys, and games.

It offers gifts cards from over 300 ecommerce stores including Amazon, Wal-Mart, Target, Starbucks, and Paypal.

The company, which has distributed over $60 million in free gift cards to consumers since its 2008 founding, has been profitable since 2010 and had $53 million in 2013 revenues, up 51% from 2012.

FinSMEs

13/05/2014

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