uSell

uSell
Formerly called
 Upstream Worldwide[1]
Public
Traded as OTCQB: USEL
Industry Recommerce[2]
Founded 2008
Founder Doug Feirstein[3]
Dan Brauser[4]
Nik Raman[5]
Christian Croft
Headquarters New York City, NY, United States
Key people
 Dan Brauser, CEO[6]
Nik Raman, COO[7]
Christian Croft, CPO[8]
Vijay Ganapathy, CTO
Colin Casey, CRO
Website www.usell.com

uSell (OTCQB: USEL) is a publicly traded recommerce company with headquarters in New York City. It operates as an online marketplace where people can sell used cell phones, tablets, video games, textbooks and gift cards to professional buyers.[5][9][10][11]

History

The idea for uSell.com came in 2006 when Feirstein tried to sell items on eBay and found it extremely difficult with the peer-to-peer model marketplace.[12] The Usell.com marketplace was launched in 2010.[13]

In 2012, uSell.com acquired EcoSquid, Inc., a website that compared and displayed ranks and options for trading in or recycling old electronics.[5] Prior to the acquisition, uSell.com had one buyer for each item being offered by the consumer. After the acquisition, each item being offered in the marketplace would receive more than four offers for the seller to choose from.[5] As of September 2013, the company has facilitated the purchase of more than 200,000 devices and paid out more than $10 million to customers through the Usell.com marketplace.[14]

Investors

uSell.com is traded publicly on the OTC market in the United States.[5] Investors include billionaire Phillip Frost[5] and several millionaires from his Frost Group.[9] In 2013, Forbes reported that uSell.com had maintained an over 90% gross profit margin for six consecutive quarters.[5]

Website overview

uSell.com users search on the website and enter the information about the item that they want to sell. The website then aggregates and displays bids from a list of more than 40 professional buyers, allowing users to select which buyer they want to sell to.[10] Once the user selects a buyer, they are sent a prepaid envelope to ship the product with no fees being charged to the seller.[10][15] Upon receipt of the item, a buyer pays the seller via PayPal or cash within five business days of receiving the item. uSell.com has been described as an intermediary to connect users with its network of buyers.[16]

See also

References

  1. ↑ "Upstream Worldwide Appoints New Chief Operating Officer". Seeking Alpha. 17 September 2014. Retrieved 19 April 2014.
  2. ↑ Handley, Meg (20 September 2012). "Old iPhones Get Second Chance With Resale Sites". US News. Retrieved 19 April 2014.
  3. ↑ Lagorio-Chafkin, Christine (15 November 2013). "Nice to Meet You, I'm the Guy Who Hacked Your Site". Inc. Retrieved 22 April 2014.
  4. ↑ Mathis, Joel (1 November 2012). "With iPad mini launch, what to do with your old iPad?". Macworld. Retrieved 22 April 2014.
  5. 1 2 3 4 5 6 7 Finger, Richard (11 October 2013). "Sell Your Smart Phone Quickly And Easily: An Alternative To eBay". Forbes. Retrieved 19 April 2014.
  6. ↑ Parker, Christine (21 October 2012). "Thar's gold in them thar used iPhones". New York Post. Retrieved 22 April 2014.
  7. ↑ Hunt, Kevin (26 August 2013). "Kevin Hunt: Sell Your iPhone Now!". The Courant. Retrieved 19 April 2014.
  8. ↑ Dusto, Amy (2 July 2013). "Experiments help e-marketplace uSell find new sources of revenue". Internet Retailer. Retrieved 22 April 2014.
  9. 1 2 Morgan, Jade (10 October 2013). "Former Coca-Cola CMO Joins uSell.com, Attracts Billionaire Investor". Small Cap Network. Retrieved 19 April 2014.
  10. 1 2 3 Hynek, Ann (20 February 2013). "Get Green Goods Delivered and Get Paid to Recycle". Fox Business. Retrieved 19 April 2014.
  11. ↑ Tynan, Dan (7 April 2014). "The 3 Rs of Retiring Your Old Gadgets: Reuse, Resell, or Recycle". Yahoo!. Retrieved 19 April 2014.
  12. ↑ Sullivan, Mike (15 June 2011). "Interview with uSell CEO and Co-Founder". Business Interviews. Retrieved 19 April 2014.
  13. ↑ "Featured Company Pitch: uSell-A new secondary marketplace for high-end electronics". Startup Beat. 27 May 2011. Retrieved 25 May 2014.
  14. ↑ Hamilton, Ian (30 September 2014). "Got a New iPhone? Get Some Cash for That Used One". The Buffalo News via HighBeam. Retrieved 19 April 2014.
  15. ↑ Harper, Elizabeth (23 September 2013). "How to Sell Your Phone for the Most Money". Techlicious. Retrieved 19 April 2014.
  16. ↑ Stenovec, Timothy (20 September 2013). "How To Sell Your Old iPhone: 6 Ways To Trade In Your Phone". Huffington Post. Retrieved 19 April 2014.
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