Swagbucks Raises $60M, Sets Davis As CEO

Los Angeles-based Swagbucks, the web-based rewards and offers site, said this morning that it has raised $60M in funding--the company's first, external capital round--and also appointed Chuck Davis as CEO of the company. According to Swagbucks, the funding round comes from Technology Crossover Ventures (TCV). Davis was Chairman and CEO of Fandango, and is also an early investor in Swagbucks. Swagbucks' former CEO, Josef Gorowitz, has become President ofthe company. Swagbucks operates an online rewards site which gives its members rewards for shopping, searching, taking advantage of offers, answering surveys, and other activities, to help encourage consumers to interact with advertisers. Davis was also previously President and CEO of Shopzilla, and is a venture partner at Technology Crossover Ventures, in addition to serving on the board of Boingo Wireless. More information »