18 Mar '12, 2pm

Turning old gadgets into cash

Turning old gadgets into cash

It was his lightbulb moment. He decided to start a company that pays consumers for their used gadgets and resells them; that makes it easy by sending customers a pre-stamped envelope once they register their gadget online; and that sends customers prompt payments – usually within a week – via check, PayPal or Amazon gift card. Now, six years after it was founded, Gazelle is seeing its business grow by leaps and bounds. Last year, Gazelle took in about 300,000 trade-ins. This year, the numbers will well exceed those of last year. One indication of future growth came just a few weeks ago: The company saw a 500 percent increase in iPad trade-ins when the new iPad was announced. Considering that the average consumer typically keeps cellphones for only 12-18 months – and that the secondary market for Apple products, in particular, is insatiable – Gazelle isn’t likely to have an...

Full article: http://www.greenbiz.com/blog/2012/03/18/turning-old-gadge...

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