Monday, May 13, 2013

Greentoe Lands Angel Funding

Los Angeles-based Greentoe.com, which operates an online marketplace which lets people name their own price for electronics and other items, has raised a round of angel funding, the firm said today. The funding came from Parker Thompson from 500 Startups/Dave McClure. Size of the funding was not announced.

According to Greentoe, it will use the funding for marketing of the site, including a multi-platform advertising campaign across the web, television, and mobile. The company said it is on target to do $1M in revenue this year, perhaps more. Greentoe's website lets users name what they'd be willing to pay for all kinds of electronics and other items; the company said that it's been seeing the most traction for photography and consumer electronics categories, but also has seen lots of growth in the baby product category.

Greentoe is led by Joe Marrapodi (LBI Entertainment, Intermix) and Andrew Kurland (Deloitte).

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