Tuesday, December 20, 2005

eBay Drop-off Store Gets $7.25 Million in VC Funding

By Ina Steiner

December 20, 2005
eBay drop-off store chain iSold It has received $7.25 million in venture capital funding from a group of investors led by Jacaranda Partners. The funding will be used "to introduce iSold It to millions of new customers and to accelerate its expansion into new e-commerce services such as reverse logistics programs," according to the press statement.

The company also announced that Michael Dooling, managing director of Jacaranda Partners and former chairman of Mail Boxes Etc., has joined iSold It's Board of Directors. Mr. Dooling began his tenure as chairman of Mail Boxes Etc. when the company had less than 100 stores, and remained at the helm until it was acquired in 1997. Today, most Mail Boxes Etc. stores operate under The UPS Store banner.

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