Back

Havish Gupta

Figuring Outย โ€ขย 5m

Product: Mobile Reselling App Valuation: $290 Million Well, that's Cashify! Cashify was started by three friends who wanted to buy the latest iPhone but found it difficult to sell their old phones easily. And thus, Mandeep, Amit, and Nakul started Cashify. The business model is pretty simple. Cashify buys old phones, refurbishes them and sells them on their website or directly to retailers. Now, they have expanded into many other services, including electronic repair and reselling of almost all electronic appliances, such as TVs, laptops, ACs, fridges, etc. They claim that they offer the best value for old phones, and thatโ€™s true. For eg, an iPhone X (64GB) exchanges for โ‚น7,000 on Amazon and โ‚น7,400 on Croma. But Cashify offers โ‚น11,000 for the same phone, and you can get an additional โ‚น2,500 if you buy a new phone in return. This leads us to another question: how do they make profits then? Answer: They don't! They are still loss-making. Actually, they make money but its less. For eg, the iPhone X, which costs them โ‚น11,000 is sold at โ‚น16,000 on their website. Thatโ€™s their profit. Btw so far, they have raised a total of $130 million and made $100 million in revenue with an 18% loss. Imo, Cashify, demonstrates that when people say execution is more important than the idea, it's true. Building a mobile reselling app isnโ€™t what most people would find appealing, but thanks to their execution, they made a $290 million company.

15 replies13 likes
3
Replies (15)

More like this

Recommendations from Medial

Image Description
Image Description

SHIV DIXIT

CHAIRMAN - BITE INDU...ย โ€ขย 1y

Unbelievable Starup Story โ†’ 1 โ˜… So we all know how problematic these old father and mother they are not able to do many basic things like walking , washroom , enjoyment , eating and so many problems . You know what ? 70% US young people are not a

See More
3 replies10 likes
1
Image Description
Image Description

Vishu Bheda

ย โ€ขย 

Medialย โ€ขย 5m

Everyone laughed when Google bought a 22-month-old startup for $50 Million... Now, that "startup" has 3.9 BILLION users. It makes more money than Snapchat, Airbnb and Uber COMBINED. Here's how a "tiny" purchase now powers half the world: 2003: A

See More
14 replies19 likes
5
Image Description

Ashutosh Mishra

Chartered Accountantย โ€ขย 9m

Income Tax Old Regime vs New Regime All individuals should calculate their income according to both the old regime and the new regime. Thereafter, they should choose the scheme that results in lower taxes.

1 replies5 likes
Image Description
Image Description

Chamarti Sreekar

Passionate about Pos...ย โ€ขย 5m

Most smartphone makers are using ODMs to make phones Even Samsung uses ODMs Most Motorola phones are ODM-based Many phone makers use ODMs to save costs and produce phones faster so that they can launch them quickly in the market, especially budget

See More
7 replies5 likes
1
Image Description
Image Description

JITESH Kattakwal

Hey I am on Medialย โ€ขย 3d

Business Idea: Refebrus Mobile โ€“ Smart Deals, Secured Devices Tagline: Buy Smart. Sell Safe. Stay Secured. What We Do: Refebrus Mobile is a trusted platform where users can sell old mobile phones and accessories, buy quality refurbished mobiles, an

See More
3 replies4 likes
Image Description
Image Description

Vishu Bheda

ย โ€ขย 

Medialย โ€ขย 3m

This is the story of how BlackBerry lost $77 billion in market value. They called the iPhone a "toy." Then, one disastrous decision sealed their fate and crushed their empire. The surprising truth behind BlackBerry's epic downfall: In 2007, Black

See More
7 replies17 likes
10
Image Description

Chamarti Sreekar

Passionate about Pos...ย โ€ขย 2m

Reliance Jio Launched Free โ€˜Sound Payโ€™ Feature on Its Jio Bharat 4G Feature Phones Merchants Wonโ€™t Need To Pay For Soundbox They Can Use Their Mobile as Soundbox Another Interesting and UPI Friendly Feature

2 replies17 likes
Image Description
Image Description

kamal p

Tech-enthusiastย โ€ขย 11m

Re-commerce opportunity with i-phones Problem- selling used phone is a cumbersome process since dealers give very less value on used phones and sell it at a very high margin. Soltion- platform to sell used phones were out executive will check the

See More
6 replies13 likes
Image Description
Image Description

Chamarti Sreekar

Passionate about Pos...ย โ€ขย 2m

A 31yr old guy who sold his startup for $100 million shares why hes depressed and how to approach your career/life

12 replies39 likes
43
Anonymous
Image Description

Business idea- There are not many creative phone cases for samsung and other android phones like iphone have.I think there is a huge market gap in supply demand in thie field ,someone please jump in this industry .PS: I'll be your first customer

2 replies6 likes

Download the medial app to read full posts, comements and news.