ReGlobe.in: A site that guarantees buyers for your old devices

ReGlobe is a re-commerce company that offers an online platform to sell old or used gadgets like laptops, mobile phones and tablets

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ReGlobe will help you sell your old gadgets.

With dozens of gadgets piling up in our homes a lot of us have been trying our luck on sites like OLX and Quikr. But despite what the ads say, posts on these sites have dismal success rates. And this is where a site like ReGlobe.in wants to make a difference.

ReGlobe is a re-commerce company that offers an online platform to sell old or used gadgets like laptops, mobile phones and tablets. But unlike the other sites there is always a price for the products and a sure sale if the prices are agreeable to the seller.

Nakul Kumar, Co-Founder & COO of ReGlobe.in, says his company works with professional buyers of second-hand devices across the country who pay ReGlobe a commission for every transaction that happens through the platform.

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“We work with localised professional buyers of second hand devices who do the pickup from customer’s homes and pay cash. These buyers then in-turn refurbish the old devices and sell them in the second hand market,” explains Kumar. ReGlobe also drives the Exchange/Buy-back programs of e-commerce sites like snapdeal.com, amazon.in, ebay.in and infibeam.com as well as OEMs like Apple India.

So you can enter whatever device you want to sell on the site and get a quote right away. The site asks you about the condition of the device and categorises it into Flawless, Good and Fair. However, a device can get a Flawless rating only if it is being sold within 11 months of its first purchase.

So a Sony Xperia Z2 got a quote of Rs 10,500, not bad considering the Quickr prices are the same. But when you try to get the quote for a device with a defect the prices can be really low. An Asus Zenfone 5 with a broken screen, but in good working condition, can get only Rs 1300.

Kumar says they company is currently doing a gross merchandise volume (GMV) of Rs 2 crore per month and plans to achieve a 10-fold growth in the next six months. “At this point of time, we are seeing a growth of 30% month on month.”

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ReGlobe’s transaction data shows that Samsung Galaxy and Apple iPad have the best appeal among second-hand sellers. Among smartphones, Samsung Galaxy Grand Duos, Samsung Galaxy S3 and iPhone 5 enjoy the highest volumes. Meanwhile, Bangalore is ahead of Delhi in the popularity of device buybacks and contributes a fifth of their transactions.

ReGlobe’s services are now available in 30 cities across the country. The aim is to cover the top 100 cities by the end of this year. The company has recently secured seed funding from Bessemer Venture Partners (BVP) and Blume Ventures. The company now has 40 employees.

Nandagopal Rajan

Nandagopal Rajan writes on technology, gadgets and everything related. He has worked with the India Today Group and Hindustan Times. He is an alumnus of Calicut University and Indian Institute of Mass Communication, Dhenkanal. ... Read More