Gazelle Pays Out $100 Million to Consumers for Used Devices

BOSTON, MA--(Marketwired - Jun 6, 2013) - Gazelle, the nation's leading consumer electronics trade-in site, today announced a major milestone. The company has paid out $100 million for used devices, a testament of its continued success in unlocking the value of used devices and fueling the reCommerce market in the United States.

Since Gazelle's launch in 2008, the company has seen an exponential increase in the number of devices that have been traded in year over year. From its diverse catalog of accepted devices, the iPhone 3G ranks the all-time most popular device traded in on the site, with iPhone 4 in second place. Over the past three years the company has been growing revenue at an average of about 100 percent per year, and hit its one-millionth device milestone back in September 2012.

The company received its first device, a Motorola RAZR, in 2007 and the device to put Gazelle over the $100 million mark was coincidentally a Motorola Droid RAZR MAXX.

"Hitting the $100 million mark is an impressive achievement for us, and a testament to the hard work and dedication from everyone at this company," said Israel Ganot, CEO, Gazelle. "We're focused on providing the best possible experience for our customers to trade-in their used devices, and milestones like this validate our success at providing a service that's valuable for consumers in a market that will continue to flourish."

"I've been a loyal Gazelle user for more than three years. Gazelle is super easy, fast and straightforward, plus, I know I'm getting the best price for my old gadgets -- I even got money back for my broken iPhone," said Gazelle customer Amanda Long from Pompano Beach, Fla. "I love having the option to choose the way I want to be paid for my device, and the promise of complete data removal from my old electronics offers real peace of mind. Because of the above-average service I've consistently experienced with Gazelle, I've referred my friends and family to use the site, as well." Long has transacted with Gazelle eight times and has traded in 17 items since April 2010.

Gazelle provides an easy, fast and safe way for consumers to trade-in used devices for cash, which can be used to subsidize their next device purchase. The company currently focuses on high-end consumer electronics, including smartphones, tablets, iPods and laptop and desktop computers.

For more information on how you can trade-in your used device, visit www.gazelle.com.

About Gazelle
Gazelle (www.gazelle.com) is the nation's leading consumer electronics trade-in site, providing an easy, fast and safe way for consumers to get cash for their unwanted devices. Gazelle takes the risk and effort out of selling electronic gadgets online with benefits such as free shipping and packaging and comprehensive identity and data removal. To date, Gazelle has paid out more than $100 million, helping consumers upgrade to the latest technology and earn quick cash. Based in Boston, Gazelle is privately owned and is backed by premier venture capital firms Venrock Associates, RockPort Capital Partners, Physic Ventures and Craton Equity Partners.