Flipping Over Wireless Trade-Ins
“We have two separate businesses,” Farudi said. “The first is the front-end application with technology sales and support, and marketing the trade-in program itself.” The other side is the relationships FlipSwap has around the world, with organizations lined up to offload the used phones as they come in.
“We provide the services and software support for free,” Farudi said. “We make our money on the resale of the handsets.”
Since all the pricing is done in real time, FlipSwap ensures that it offers payment only for phones it can actually resell. But no matter what it’s offering, FlipSwap will take any phone. “If we can’t pay for it because it’s too old or it’s broken, we will take it as part of our recycling program,” Farudi said. “We take phones two months old and five years old.” FlipSwap partners with the Sims Group, a global recycling company.