$46B Smartphone Resale Market

A marketplace platform for buying and selling used smartphones, structured like a stock market where wholesalers can place bids and fulfill orders. The platform modernizes what currently happens through Facebook groups and WhatsApp.

Key Points:

• Market Size & Opportunity:

  • $46 billion annual used smartphone market
  • 230 million smartphones sold per year
  • Used smartphone sales growing faster than new smartphone sales

• Platform Mechanics:

  • Works like a stock market for phones
  • Buyers can place bids for specific phones
  • Sellers can list bulk quantities (e.g., 100 Android phones)
  • Buyers can purchase partial quantities from bulk listings

• Current Performance:

  • $400,000 in GMV (Gross Merchandise Volume)
  • 8% margin
  • Profitable after 3 months
  • Growing 20% month over month

• Founder Background:

  • Founders were former phone brokers
  • Previously sold $8 million worth of phones manually
  • Built marketplace based on direct industry experience

• Business Model:

  • Takes percentage of transactions (implied 5-10% of GMV)
  • Bootstrapped operation
  • Currently profitable with minimal overhead