TipTop, the startup that gives immediate money for electronics, is launching TipTop Store: a manner for customers to buy and commerce in gadgets. TipTop Store builds on the success of TipTop Money, which was launched late final yr. It lets individuals get immediate payouts for digital gadgets like smartphones, iPads, cameras, sport programs and extra.
Many individuals promote outdated gadgets with the intention to buy new ones, and generally they don’t all the time need the newest and costliest mannequin. Historically, customers flip to promoting platforms or use trade-in applications that always give present playing cards that may be put towards a brand new buy.
TipTop needs to take away the trouble by combining either side of the equation. Individuals should buy new, open-box and refurbished gadgets by means of money and trade-ins. “You will have this unified trade-in cart, which lets you commerce in something that you’ve,” the startup’s founder, Bastian Lehmann, advised TechCrunch. Lehmann previously based Postmates.
“It doesn’t should be from the identical model, it doesn’t even should be a associated product,” he stated. “After which we do what we now have accomplished over the past yr, we immediately acknowledge the worth of the merchandise that you simply now not want, and you’ll then buy issues with a reduction as a result of we’re taking your commerce in worth under consideration.”
Prospects can commerce in an outdated Samsung Galaxy for a reduction on an iPad, an Apple HomePod mini for a Nintendo Change, or an iPhone for a Nothing telephone. Prospects also can make a purchase order with out a trade-in.
TipTop processes the funds by means of Stripe and handles the deliveries. In contrast to on platforms like eBay and Fb Market, customers aren’t shopping for merchandise on TipTop from different customers, because the gadgets are owned by the startup itself.
Lehmann teased that subsequent month, the startup might be launching a brand new product that can give retailers the power to run immediate buying and selling applications.
Thus far, TipTop has raised $23 million in Sequence A funding from traders, together with Andreessen Horowitz (Marc Andreessen is on the board), plus OpenAI CEO Sam Altman, AngelList co-founder Naval Ravikant, and Pinterest, Coinbase, and DoorDash board member Gokul Rajaram.
