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News & Features Technology JungleCents announces closing of $1.5m seed funding round

JungleCents announces closing of $1.5m seed funding round

Written by Entrepreneur Country on Wednesday, 27 October 2010 14:14
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JungleCents a gift card affiliate startup has announced the closing of a $1.5m seed round of financing from billionaire Mark Cuban.

JungleCents inverts the traditional pay per lead referral business, which pays directly for leads sent to them by affiliates. JungleCents gets its gift cards from the e-commerce site below usual affiliate cost, making a profit on the difference between that price and what it charges for the gift card.

Each week, The Jungle Cents website features a massively-discounted item on its main page for people to buy. People visit the site, see what it’s being offered and if they like it then they simply proceed to buy it.

And the site is really interesting in the sense that the items which are featured come both from major retailers and from smaller boutiques. One of the aims of the site is precisely that: giving smaller merchants a bigger degree of exposure than they would have by other means.

In addition to highlighting the deal of the week, the main page has a space for people to discuss and comment that deal as extensively as they might want. They can discuss the quality of what is being sold, and they can comment on how much of a bargain they really think that item is.
Junglecents.com in their own words

“In 2010, Jungle Cents was formed upon the ideals of being social and innovative. The idea of giving consumers steep discounts for stores that they want to shop at is the basis of the platform. Jungle Cents is a community of great savings, as well as the opportunity to discover places you have never been before. Shopping is evolving as times are changing, and with that Jungle Cents offers a place for consumers to discuss, experience, and save.”

 

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Last modified on Thursday, 28 October 2010 12:23
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