Jackpot Rewards Scores $14M

6/21/10

Newton, MA-based Jackpot Rewards, a provider of online sweepstakes and rewards programs, has raised $14.1 million in a convertible debt financing, according to an SEC filing. The startup pulled in $12 million in debt-based funding back in October. Wade profiled Jackpot in February 2008 when it announced plans for weekly $1 million sweepstakes with guaranteed winners, but the company drew criticism months later when it scaled back the prizes.

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