Second Rotation, the company behind gadget ‘reCommerce’ site Gazelle, has closed a $6 million Series B funding round led by RockPort Capital Partners, with existing investors Venrock Associates, Austin Ligon, and Henry Vogel also participating.
Gazelle’s service, which launched in July, allows users to receive cash for their used gadgets without having to deal with online marketplaces like eBay or Craigslist. After entering some basic information about a product (including model number, condition, and accessories) Gazelle will make an instant cash offer. If the user accepts, Gazelle will pay any shipping charges and pays out the cash amount within a few days of receiving the gadget, assuming the product’s condition corresponds with what the user described. Users generally receive less money than they would through eBay, but Gazelle is usually more convenient.
The site will also help recycle any items it can’t resell, which makes it more eco-friendly than most other online marketplaces. And it’s a quick way to get some cash – the relatively small effort involved will appeal to users looking to clear out the random gadgetry filling their desks without having to deal with eBay’s auction process.
Another similar competitor in this space is Venjuvo. Ztail has also experimented with this, but it isn’t the site’s primary focus.
Update:This post originally noted that Gazelle wasn’t much more ‘green’ than garage sales, eBay, or pawn shops. However, the site will help users recycle goods that can’t be resold, so the ‘green’ label is warranted.