Backflip's Electronics Buyback
Share
A story about how modern companies are taking old business models and scaling them with modern technology.
"I saw this business called Backflip that just got funded. They're basically saying we'll instantly buy any of your used electronics. It's not that it's new - it's that there's a big swing being taken by people who are trying to do this at scale using modern internet marketing models.
It's like 'We Buy Gold' billboards or gift cards. There's actually a gift card startup called Rays that's crushing it. I'm looking at their website rays.com right now - just by looking at their traffic I can tell these guys are printing money. Rays is going to be like a billion dollar plus win and nobody even talks about this company.
It's a super simple business - resale of gift cards essentially. I'm interested in this 'OpenDoor for X' concept, which is basically instant liquidity for things that were pretty illiquid before."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.