Swapit was a site where unwanted items could be traded by kids in exchange for some other stuff that they like. Having found its success with an ad network that has reached out to over 7.3 million kids out there; the site has now been acquired by another recently founded startup namely “Box of Awesome”, which has commonly been referred to as the Birchbox for Kids.
Launched last February, Box of Awesome was mainly dedicated to serving kids between the ages of eight and fourteen as a solution to the problem of getting products discovered. Arriving to kids on a bimonthly basis, it consists of goods like books, music, games and other stuff that attract these kids.
Box of Awesome, had recently also launched another platform called OMG that was dedicated to only teenage girls.
The startup Swapit on the other hand is not a recent one. The startup was founded in 2001. The startup’s focuses are on three main aspects namely serving kids as a community for online swapping and trading, helping members earn Swapits, which is a virtual currency with which they can bid on items of their choice, and allowing them to earn these Swapits from leading organizations and brands where they can be a part of competitions, games and other such fun activities.
The company, with its team of nine people is soon going to join the team at Box of Awesome, where Lee Veitch will serve as the Vice President of Sales and Tom Impallomeni will serve as the Chief Operating Officer.
The newly acquired company has now got its name changed from Swapit to SuperAwesome. The newly formed website is now one among the leading discovery platforms for all kids in the United Kingdom and has managed to reach out to over sixty five percent of kids and teenagers in the United Kingdom.
The terms behind this deal have not yet been made known to the public. The company was bought with stock and not with cash.