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11/06/2012 Acquired By Finland�s Netcycler

Finland�s online item swapping (barter) service provider Netcycler acquired Boston (MA)-based, but didn�t really announce the deal at the time � although the company sent an e-mail to users that left little to the imagination. Since then, the Helsinki-based company finally confirmed that it has indeed acquired

Netcycler was founded in 2008 and currently operates item-swapping services in Finland, Germany, the United Kingdom and now the USA. The European services today have more than 130,000 registered users.

According to CrunchBase, (formerly known as Swaptree) had raised over $11 million and is said to have attracted nearly half a million U.S. users. That brings Netcycler�s total tally to over 600,000 registered members today.

With little fanfare, Netcycler recently launched a �valet service,� which initially focused on kids� clothes, toys, sporting equipment and kids accessories. The service basically enabled parents to ship unused items to, so the company can photograph, store and list them. To accommodate the new �valet service,� Netcycler has set-up its first logistics center, close to Chicago (IL).

Netcycler co-founder and chairman Jussi Koskinen remarked, �Trading pre-owned items is a lot of work, and I can see why many people are not doing it. With the new service, we completely avoid the inherent problems of C2C (consumer-to-consumer) online auctions and marketplaces � like lack of trust towards trade partners, unreliability of delivery, and high shipping costs.�

Koskinen says the acquisition of came at a good time. �We are just launching the Netcycler service in the U.S., and the well-known brand and half-a-million users of will surely help us grow our presence there.�

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