Greentoe Raises $500,000 For Name-Your-Own Price Marketplace

Los Angeles-based Greentoe, a startup developing an e-commerce marketplace which lets people set their own price on appliances, photo equipment, home theater, baby products, music, and more, has raised $500,000 in angel funding. Names of the investors in the company were not announced. According to founder Joe Marrapodi, the company believes it wil lbe on a $3M a year run rate by December. Greentoe's site lets users make an offer for a large list of items, and notifies retailers of what its users will pay for an item--sort of a Priceline for consumer goods. The company first landed an initial angel funding back in May. More information »