Blackhawk Network Buys Gift Card Marketplace Cardpool (W10)


Y-combinator-backed gift card marketplace Cardpool has been acquired by Blackhawk Network, a subsidiary of Safeway and one of the largest distributors of gift cards in the world. Financial terms of the deal have not been disclosed.

Cardpool, which launched in 2010, buys people’s unwanted gift cards, and sells gift cards at large discounts. They judge the buyback and selling amount by how desirable the cards are. For example, you can sell a BestBuy’s gift card, which is highly desirable, to CardPool for 90 percent of its value. And on CardPool’s site, you can find a Best Buy gift card for 5 percent off its original value. On the other hand, 1-800-Flowers’ gift cards, which are not as popular as Best Buy’s cards, are discounted by 30 percent on the site.

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Dropbox (S07) Raises $250M In Funding, Boasts 45 Million Users


We knew it was in the works, and now Dropbox has confirmed that it has raised a massive round of funding. The company has landed $250 million in Series B financing (bringing its total of capital raised to $257.2 million). Last we heard the round values Dropbox at $4 billion.

Index Ventures led the round, with participation from a stellar list of new investors (Benchmark Capital, Goldman Sachs, Greylock Partners, Institutional Venture Partners, RIT Capital Partners and Valiant Capital Partners). Early backers Sequoia Capital, Accel Partners, and Hadi and Ali Partovi also participated in the round. Founded in 2007, Dropbox was initially jump-started at Y Combinator.

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