uSell
FormerlyUpstream Worldwide[1]
TypePublic
OTC Pink Current: PXHI
IndustryRecommerce[2]
Founded2008
FounderDoug Feirstein[3]
Dan Brauser[4]
Nik Raman
Christian Croft
Headquarters
New York City, NY
,
United States
Key people
Dan Brauser, CEO[5]
Nik Raman, COO[6]
Christian Croft, CPO[7]
Vijay Ganapathy, CTO
Colin Casey, CRO
Websitewww.usell.com

uSell (operating under PhoneX Holdings, Inc, OTC Pink Current: PXHI) 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.[8][9]

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.[10] The Usell.com marketplace was launched in 2010.[11]

It was originally operated under the name Upstream Worldwide, Inc, (with publicly traded symbol UPST) but in 2012 changed names to uSell.com, Inc.[12]

In 2012, uSell.com acquired EcoSquid, Inc., a website co-founded and led by Benjamin Gordon that compared and displayed ranks and options for trading in or recycling old electronics. 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.[13]

in 2018, the company raised $4.8 million. They also incorporated a new entity, PhoneX Holdings Inc. and transferred to this new subsidiary all of its technology assets related to the online, wholesale distribution of used smartphones.[14]

Investors

uSell.com is traded publicly on the OTC market in the United States. Investors include billionaire Phillip Frost and several millionaires from his Frost Group.

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.[8] Once the user selects a buyer, they are sent a prepaid envelope to ship the product with no fees being charged to the seller.[8][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. ↑ Parker, Christine (21 October 2012). "Thar's gold in them thar used iPhones". New York Post. Retrieved 22 April 2014.
  6. ↑ Hunt, Kevin (26 August 2013). "Kevin Hunt: Sell Your iPhone Now!". The Courant. Retrieved 19 April 2014.
  7. ↑ Dusto, Amy (2 July 2013). "Experiments help e-marketplace uSell find new sources of revenue". Internet Retailer. Retrieved 22 April 2014.
  8. 1 2 3 Hynek, Ann (20 February 2013). "Get Green Goods Delivered and Get Paid to Recycle". Fox Business. Retrieved 19 April 2014.
  9. ↑ Tynan, Dan (7 April 2014). "The 3 Rs of Retiring Your Old Gadgets: Reuse, Resell, or Recycle". Yahoo!. Retrieved 19 April 2014.
  10. ↑ Sullivan, Mike (15 June 2011). "Interview with uSell CEO and Co-Founder". Business Interviews. Retrieved 19 April 2014.
  11. ↑ "Featured Company Pitch: uSell-A new secondary marketplace for high-end electronics". Startup Beat. 27 May 2011. Retrieved 25 May 2014.
  12. ↑ "Upstream Worldwide, Inc. Changes Name To uSell.com, Inc., And Now Trades Under New Ticker Symbol USEL". www.businesswire.com. 2012-07-30. Retrieved 2020-12-03.
  13. ↑ Hamilton, Ian (30 September 2014). "Got a New iPhone? Get Some Cash for That Used One". The Buffalo News. Archived from the original on 29 March 2015. Retrieved 19 April 2014.
  14. ↑ "uSell.com Raises $4.8 Million and Signs Contract to License Technology to Major Wireless Distributor". AP NEWS. 2018-12-10. Retrieved 2020-12-03.
  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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