Hardware - Thursday, April 26, 2007
TechForward Funded For Consumer Electronics Buybacks
We like what LA-based TechForward is up to. They give consumers a hedge to planned obsolescence of laptops, iPods and other consumer electronics. Its a variation on BestBuy's extended warranty, except that with TechForward you pay more upfront knowing that you are going to return a product that is not broken but is no longer cool.
As an example, a customer might pay $75, after merchant markup, for the right to sell his laptop back to TechForward for $655 after 6 months, $502 after 12 months, $383 after 18 months, or $291 after 24 months:
To market the product, TechForward has an API that merchants can grab. To date, it has not announced that any merchants are actually using the service.
Today, First Round Capital invested an undisclosed amount in the company.
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