Flip4new wins investment from former Xing founder

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Since Lars Hinrichs, former Founder of XING, sold his stake in the floated company to Burda for €48.3 million he’s been pinging around Europe, attending high level events like Le Web and generally enjoying life. But he’s also – shock horror for a European startup guy – investing in startups, and internationally. So far we hear he’s clocked up in the UK (3), US (5), Germany (6) and Nordics (2). In other words, 40% German, 60% outside Germany.

Hinrichs now has put in “approx 300k Euro”for 12.5% of Flip4new.de, an ecommerce site where customers can exchange their used and unwanted electronic gadgets for new gadgets, vouchers or other e-commerce shops or cash.

Theses multiple options are the new “feature” of the site. We’re not sure if there are other sites out there like this but tell us in the comments and we’ll add them up. It does sound suspiciously like SpeedSell in the UK though.

Only the difference between the price of the new gadget and the trade-in value of the used gadget is charged to the customer. Buying/selling is handled in one transaction. Plus you can just sell, not buy or exchange, says Michael Sauer, founder and CEO.

  • http://www.spirofrog.de Thomas

    This is very good News for German ” seed scene ” Good luck with these investments. Great name by the way.

  • http://www.bodegabid.com mark sendo

    congrats Michael, awesome idea

  • http://www.neunetz.com/2010/05/05/lesenswerte-artikel-4-mai-2010-2/ Lesenswerte Artikel 4. Mai 2010

    […] Flip4new wins investment from former Xing co-founder "Hinrichs now has put in “approx 300k Euro”for 12.5% of Flip4new.de, an ecommerce site where customers can exchange their used and unwanted electronic gadgets for new gadgets, vouchers or other e-commerce shops or cash." […]

  • ro

    flip4new seems to be a copycat of gazelle.com, isn’t it?

    nice idea though..
    but.. try to get a price for an iphone.. they ask you if you have the battery!

    rofl…

    no i disassembled the whole phone to loose it..

  • Robert

    I remeber the last year Tech Crunch Seedcamp Winner asgoodas.nu, which did also very well since then. They started some time ago the new trademark wirkaufens.de extending their product range(mobile phones, MP3-Players, navigation systems and digital cameras).

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