Go Big or Go Home: Back Market chooses BIG!
I’m going to celebrate my computer’s birthday next June. Four years already! Four years together — and we shared a lot of memories: work, travel photos, knowledges, entertainment… Unfortunately, it seems that a computer’s life expectancy is around five years. Unless I decide to quit and isolate myself from the world, I’ll need to get another one. Truth is, we live in a digital world — and at daphni we’re literally living it as we support digital winners — where a computer is an insanely useful tool. Sadely or not, it’s a fact. And it’s all the more a fact that we’re all able to work remotely thanks to our computer. This crisis causing the lockdown made us realize how this device is helping most of us, the lucky ones, to keep working from home, follow courses online, maintain contacts, keep up to date with the news and so on.
What will I do the day my computer lets me all by myself? Buy a new one? Oh, certainly not! SCREW NEW they say. When I say “they”, you probably understand that I’m referring to the three guys on the picture above. They are the founders of Back Market, folks! Back Market is the leader of technology-powered circular economy, which crucial mission is to offer refurbished electronics devices. And you know what? My next computer will come from Back Market, this in an obvious call for me.
These three guys are the ones that are making refurbished a norm and help supporting the world’s transition to more sustainable consumption. And these — not really — priceless smiles worth $120m. Exactly the amount they just raised to continue their amazing journey.
With this new funding round, Back Market aims to double down on core markets, starting with the U.S., where its total revenues exploded when President Trump announced to give $1,200 to Americans who earned over $75,000 last year. The U.K. and German markets are also in the viewfinder. They remain focus on the countries already open, but the raising should also allow them to release some punchlines in Polish and Swedish in not too long. “Nie możemy się doczekać.” they say.
Back Market intends to invest heavily in quality control, ultimately growing its quality team up to three times its current size. Funds will also be allocated to activities that solidify Back Market’s industry leadership: building a dedicated Machine Learning team to improve its algorithm, introducing new services around logistics and repair, as well as expanding on Back Market’s expertise to benefit its sellers (sourcing devices, spare parts, test protocols, R&D, etc.)
So, yeah, in a way, I can’t wait for my computer to give up on me. It is with joy and pride that I will contribute to Back Market mission. We live in a world with limited resources. We cannot consume technology as we did in the 80s. It’s not just an ecological conviction, it’s common sense.
Since we met them in 2017, we support the whole team, as they represent the perfect bridge in offering the best products to customers without encouraging mass consumption. We are super proud and cheerful! Kudos Thibaud, Quentin & Vianney!
Stay safe & join the refurb revolution with us.