TipTop, the startup that gives immediate cash for electronics, is launching TipTop Shop: a method for customers to buy and commerce in devices. TipTop Shop builds on the success of TipTop Cash, which was launched late final 12 months. It lets folks get immediate payouts for digital devices like smartphones, iPads, cameras, recreation techniques and extra.
Many folks promote outdated devices with a view to buy new ones, and generally they don’t at all times need the newest and costliest mannequin. Traditionally, customers flip to promoting platforms or use trade-in applications that usually give present playing cards that may be put towards a new buy.
TipTop needs to take away the trouble by combining either side of the equation. People can buy new, open-box and refurbished devices by way of cash and trade-ins. “You have this unified trade-in cart, which permits you to commerce in something that you have,” the startup’s founder, Bastian Lehmann, informed TechCrunch. Lehmann previously based Postmates.
“It doesn’t should be from the similar model, it doesn’t even should be a associated product,” he mentioned. “And then we do what we’ve accomplished over the final 12 months, we immediately acknowledge the worth of the merchandise that you now not want, and you can then buy issues with a reduction as a result of we’re taking your commerce in worth into consideration.”
Customers can commerce in an outdated Samsung Galaxy for a reduction on an iPad, an Apple HomePod mini for a Nintendo Switch, or an iPhone for a Nothing cellphone. Customers may also make a purchase order with out a trade-in.
TipTop processes the funds by way of Stripe and handles the deliveries. Unlike on platforms like eBay and Facebook Marketplace, customers aren’t shopping for merchandise on TipTop from different customers, as the devices are owned by the startup itself.
Lehmann teased that subsequent month, the startup shall be launching a new product that may give retailers the capacity to run immediate buying and selling applications.
To date, TipTop has raised $23 million in Series A funding from buyers, 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.
