RIP Craigslist
Millennials to boomers have something to bond over — a Craigslist memory? While Craigslist's retro simplicity may appeal to diehard fans, secondhand sellers have been flocking to newer tech.
Yesterday a new reseller product launched called Backflip with a model driven by simplicity. Maker Adam Foosaner explained:
“My co-founder and I stumbled on the idea behind Backflip when moving between apartments… We should be able to sell [our electronics] in a matter of minutes by just taking a picture on our phones.”
Users go to the Blackflip website, select their device, and get a quote. The physical transaction is done for free with The UPS Store – no box or shipping label required. Drop it off or schedule a pickup and your payment is guaranteed by Backflip.
“I finally have a chance to clean out my electronics drawer. Love it!” - Hunter Hodnett noted.
Backflip’s approach might appeal to sellers who just want to get rid of some stuff quickly. Other players in this space have stretched across channels. Poshmark, which went public in January, created a whole fashionista social community around reselling. StockX and Alt are working to ride trends in alternative investments as part of their resale model.
StockX is a shining example of the growth in the reseller space. It had a record year of revenue and just closed a funding round resulting in a $3.8 billion valuation. Beyond bidding and selling, StockX delivers users a host of data like historical sales and authenticates the sneakers too. Ebay announced their own authentication program to play catch up in October.
Besides the pandemic and eCommerce growth, another reason for the resale boom is interest in sustainability. The demand is so strong that brands like Gucci are playing with their own resale models.
If you’re in the market for sustainable threads but are looking for something new, you can check out recently launched Good Garms instead. Otherwise, it might be time to…
Yesterday a new reseller product launched called Backflip with a model driven by simplicity. Maker Adam Foosaner explained:
“My co-founder and I stumbled on the idea behind Backflip when moving between apartments… We should be able to sell [our electronics] in a matter of minutes by just taking a picture on our phones.”
Users go to the Blackflip website, select their device, and get a quote. The physical transaction is done for free with The UPS Store – no box or shipping label required. Drop it off or schedule a pickup and your payment is guaranteed by Backflip.
“I finally have a chance to clean out my electronics drawer. Love it!” - Hunter Hodnett noted.
Backflip’s approach might appeal to sellers who just want to get rid of some stuff quickly. Other players in this space have stretched across channels. Poshmark, which went public in January, created a whole fashionista social community around reselling. StockX and Alt are working to ride trends in alternative investments as part of their resale model.
StockX is a shining example of the growth in the reseller space. It had a record year of revenue and just closed a funding round resulting in a $3.8 billion valuation. Beyond bidding and selling, StockX delivers users a host of data like historical sales and authenticates the sneakers too. Ebay announced their own authentication program to play catch up in October.
Besides the pandemic and eCommerce growth, another reason for the resale boom is interest in sustainability. The demand is so strong that brands like Gucci are playing with their own resale models.
If you’re in the market for sustainable threads but are looking for something new, you can check out recently launched Good Garms instead. Otherwise, it might be time to…
Clear out the electronics drawer
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Let them have funding.
Looking back: With Q1 behind us, reports on the state of venture funding confirmed what many have been feeling: global venture investment is at record highs. Get a quick recap on how funding broke down across startups and see who from the Product Hunt community joined the unicorn club.
Looking forward: This community is always finding new ways to support makers in their quest for funding. Here are some of the latest tools.
OpenVC - 2,200+ VC firms by thesis, free and open
Roll Up Vehicles by AngelList - One link for all your angel investors
Investor Pitch Training - Practice your pitch with real questions
Smart Founder Intros - Smart intros to relevant entrepreneurs
Founder Content - Curated list of resources for founders
FundBoard - Build a tailor-fit list of startup investors in minutes
Looking back: With Q1 behind us, reports on the state of venture funding confirmed what many have been feeling: global venture investment is at record highs. Get a quick recap on how funding broke down across startups and see who from the Product Hunt community joined the unicorn club.
Looking forward: This community is always finding new ways to support makers in their quest for funding. Here are some of the latest tools.
OpenVC - 2,200+ VC firms by thesis, free and open
Roll Up Vehicles by AngelList - One link for all your angel investors
Investor Pitch Training - Practice your pitch with real questions
Smart Founder Intros - Smart intros to relevant entrepreneurs
Founder Content - Curated list of resources for founders
FundBoard - Build a tailor-fit list of startup investors in minutes
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