Plastic Jungle Names Bruce Bower CEO, Gary Briggs Chairman
SAN JOSE, Calif. – September 9, 2010 – Plastic Jungle, the Web’s leading gift card exchange, announced today that Bruce Bower will become the company’s new Chief Executive Officer, following the tenure of Gary Briggs who will transition to Chairman of the Board of Directors, effective October 1.
“Bruce, who has served as president since April 2009, will continue to move Plastic Jungle forward along the exciting trajectory Gary set,” said Tod Francis, Managing Director of Plastic Jungle investor Shasta Ventures, and a member of the Plastic Jungle board. “It’s great that Bruce and Gary will continue to build the company together. Bruce brings many years of experience in the gift card space and Gary was senior at eBay and PayPal. This is an excellent combination to take Plastic Jungle forward.”
In his more than 20 years of management experience, Bruce has led early and mid stage technology enterprises and has been actively involved in the payments, media, education, and alternate energy markets. Prior to Plastic Jungle, Bruce served as Senior Vice President at Blackhawk Network, the largest third-party distributor of gift cards in the world.
“Bruce is very experienced in this sector and will be a tremendous asset to the business as CEO,” said Gary. “In many ways, his vision and prescience have made Plastic Jungle what it is today. We are well funded, we have a winning strategy and a topnotch team, and we are growing rapidly.”
He added, “In returning to the Board, where I started my Plastic Jungle career, I’ll be closely involved with our continued expansion as I pursue my longtime passion in marketing.”
Gary joined the Board of Plastic Jungle in May 2008 and was appointed CEO in November 2008. He came to Plastic Jungle after a successful career at eBay, where he was Senior Vice President and Chief Marketing Officer. He will succeed Lou Ryan, CEO of St. Bernard Software, as Chairman of the Board. Lou will remain on the Plastic Jungle Board.
“Our business is very strong, which is a great time for this transition,” said Bruce. “Gary has played a central role in growing Plastic Jungle into the leading gift card exchange, and I look forward to continuing our work together. The next year will be an exciting one for Plastic Jungle. Stay tuned.”
About Plastic Jungle
Plastic Jungle (www.plasticjungle.com) is the Web’s leading gift card exchange, offering the best way to sell, buy or donate gift cards in a trusted environment. Consumers can save money at their favorite stores with discounted gift cards up to 30% off, and Plastic Jungle buys unwanted gift cards for up to 92% of the unused balance. The company’s mission is to bring liquidity to the estimated $30 billion unredeemed gift card economy for the benefit of consumers, retailers, and other ecommerce companies. Based in San Jose, California, Plastic Jungle is privately held, with venture backing from Shasta Ventures, Redpoint Ventures, First Round Capital, Bay Partners, Harrison Metal, and Western Technology Investment.
Contact:
Lana Gersten | 212-784-5714 | lgersten@groupgordon.com
