SAN JOSE, CA--(Marketwire - December 7, 2010) - Plastic Jungle, the web's largest secured gift card exchange, today announced that Loren Scott became the company's new Vice President of Business Development. Loren has held executive responsibility for some of the most successful gift card programs, including Gap, and brings more than 15 years of experience in gift credit and other prepaid card programs to Plastic Jungle. Loren also has led brand and product management, marketing and sales for international payments companies, including Visa.
"We are excited to welcome Loren to Plastic Jungle," said CEO of Plastic Jungle Bruce Bower. "Loren is extremely well-respected as both a thought and action leader in the gift and prepaid card world. His vast experience in the retail, credit card and prepaid industries will be an excellent and welcome addition to our accomplished team and help further Plastic Jungle's commitment to innovating prepaid solutions that benefit both retailers and consumers."
Through the Plastic Jungle marketplace and its proprietary payments applications, users can sell unredeemed gift cards for up to 92% of the verified gift card balance or buy gift cards to their favorite stores at up to 30% off.
Effective December 6, Loren will lead relationship development with the Company's gift card, merchant payments, e-commerce, and processor partners. Prior to joining Plastic Jungle, Loren served as Director of the gift card program at Apple iTunes, Director of Prepaid Products at Gap Inc. and as Senior Director of Market Development for Visa USA.
"Plastic Jungle has an incredibly talented and dynamic team that is revolutionizing the gift card and prepaid industries," said Loren Scott. "My experience at Visa, Gap Inc. and iTunes has provided a natural progression to my upcoming work with Plastic Jungle, and I look forward to hitting the ground running."
About Plastic Jungle
Plastic Jungle (www.plasticjungle.com) is the web's largest secured gift card exchange, giving consumers the choice and flexibility to convert their gift cards into other forms of spending power -- including cash, online balances to use for purchases at the millions of merchants that accept PayPal, Facebook Credits, and more -- and to stretch their shopping dollars at their favorite merchants. Plastic Jungle's patent-pending marketplace and payment applications aim to safely unlock the estimated $30 billion in unredeemed gift cards trapped in the economy for the benefit of consumers and merchants alike. Based in San Jose, California, the company is privately held, with venture backing from Shasta Ventures, Redpoint Ventures, Jafco Ventures, First Round Capital, Bay Partners, Harrison Metal and Western Technology Investment.