November 2008

Madison Park Group is pleased to announce its latest transaction – a $14 million preferred equity fundraising for Flipswap, the leading provider of trade-in solutions to the wireless industry.  The fundraising was led by NGEN Partners and RRE Ventures.

Flipswap’s web-based platform enables consumers to monetize their pre-owned cell phones with minimal effort, either through an in-store experience or online.  The Company has signed-up over 5,000 participating retail locations throughout the U.S. which use Flipswap’s trade-in solution to attract customers.  The Company is well positioned to capitalize on the growing secondary handset market, which ABI Research believes will top $3 billion by 2012.

Los Angeles-based Flipswap has grown rapidly while being bootstrapped by its founders and experienced revenue growth of over 100% in 2008 while maintaining profitability.

Madison Park Group acted as exclusive financial advisor to Flipswap in the transaction.  Our role included advising the company on exploring various fundraising options, running a competitive process that led to multiple term sheets, negotiating term sheets and facilitating the closing of the transaction. 

Madison Park Group is an investment banking firm focused on advising technology and business services companies on pursuing M&A and private equity transactions.  Madison Park Group’s principals have extensive transaction and operating experience in the technology and business services sectors and have executed over $30 billion in financing and M&A transactions.