Jeff Bennett, newly appointed CEO at Safeguard Scientifics’ technology partner company Swaptree, was recently featured on FOX Business to talk about the “swap movement.”

Jeff noted that bartering and swapping are forms of commerce that have existed since the dawn of man as a means to exchange goods and services. Today, through the Internet, many community-based (or social) activities, such as swapping, have become re-energized. Swaptree is catering to this powerful trend with their online swapping platform.

Our partnership with Swaptree aligns with Safeguard’s core competency of financing on-demand, Internet-based businesses. Swapping is the next logical step in Internet commerce. First there was e-commerce, then online auctions, and then online classifieds for buying and selling used items.

Now we’re seeing demand for trading online, driven in no small part by an economy where consumers are spending less, searching for great deals, and wanting to be more environmentally friendly. Swapping is the perfect solution.

In 2009 alone, Swaptree members conducted more than 1 million swaps on the site; saved members $5,549,058; and enabled members to reduce their carbon footprint by 5,011,078 pounds, in total. Swaptree is often referred to by mainstream media outlets as “the eBay of Swap.” The swapping platform offers an easy, feel-good way for people to recycle the stuff they have and get things they want while reducing consumption of new products.

Jeff’s appearance on FOX Business was gratifying recognition that the national media shares in our belief that social networks and innovative technologies can be combined to create revolutionary tools to simplify and improve our lives.

We welcome Jeff to the Swaptree team and believe that his passion, energy, and enthusiasm will enable the company to make its vision a reality.

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