Boston – Swaptree.com, an online service that lets users
trade books, CDs, DVDs and video games, announced on Monday that it has raised
$6 million in new financing and named Jeff Bennett as its new CEO.
Bennett was
most recently president and COO of secondary domain name market NameMedia, and
before that was an executive vice president at Lycos.
Safeguard Scientifics led
the new investment round, which also included participation from numerous
private investors.
Boston-based Swaptree.com said that members conducted more
than one million swaps on the service during 2009.
The site features
advertising, but does not charge users a fee to use its service, although they
must cover shipping fees when swapping items with other users.
Swaptree will
use the new funds for new hires and marketing initiatives.
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