CUPERTINO, Calif., April 2, 2009– Swoopo (www.swoopo.com), the world’s leading auction site combining e-commerce and entertainment, earlier today announced that August Capital (www.augustcap.com) has invested in the company, joining Wellington Partners who invested in late 2006. Swoopo transforms online auctions by enabling users to strategically place winning bids for goods at a fraction of their retail cost.

“Swoopo’s mission is to bring the transparency and thrill back to online auctions,” said Gunnar Piening, CEO, Swoopo. “Since our launch in the US in late 2008, we’ve seen great interest in our site with our monthly transactions growing rapidly. We are now aggressively executing our plan to roll out our brand of entertainment shopping across global markets.”

“Swoopo is a great business, with an innovative and straightforward business model that has successfully merged entertainment and shopping categories,” added Howard Hartenbaum, General Partner, August Capital. “More than ever, consumers are looking for a bargain and looking to have fun. Swoopo fulfills these needs.”

Almost 2 million members have joined the site, which launched in the US in late 2008. Swoopo is the closest thing to a real-life auction, whereby brand new items under warranty including the new Nintendo DSi, Amazon Kindle, flat screen TVs, computers and watches can be obtained for an average of 65 percent below retail. Swoopo also provides consumers with full transaction histories and bidding patterns to enable consumers to devise their own strategies to win products at a fraction of the MSRP.

Just like a traditional auction, when a user places a bid in the final moments, Swoopo extends the auction to allow every participant to get in a new bid. This ensures that there is no ‘sniping’ at the last second. Part of the appeal of Swoopo is in developing strategies and skills to repeatedly win.

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