RecycleDevice: The Pre-Owned Market Aggregator Ensuring Right Price & Quickest Buy-Back of Your Products

Puneet Jain,   Co-Founder & CEO

Puneet Jain, Co-Founder & CEO

The Co-Founder & CEO of RecycleDevice, Puneet Jain comments, “I believe that the current refurbishing or recycling market has three times the potential of the retailing market of new devices, as a new phone can only be sold once by OEM /retailer, but can change hands three times in pre-owned market before finally reaching end of life”. When Puneet was working at Australia, he noticed people there were greatly cautious about protecting human values and environment from pollution. He always trusted that recycling or reusing old phones might be the best way to decrease the deployment of plastic for new phones and thus reduce the carbon footprint.

Hence upon returning from Australia, Puneet established RecycleDevice in July 2017 as an online electronics platform that helps customers sell their devices online by acting as a direct aggregator between them and the concerned partners in pre-owned devices ecosystem. The firm picks-up the device (free of cost)right at
the customer’s doorstep, provides them a comprehensive evaluation of their device and also an accurate estimation as per the current market price. In fact, Recycle Device is a technically advanced company with rich acumen on the market prices of various gadgets and one of the largest companies in the industry with operations spanning over 17,000 pin codes (30+ cities). Serving 18,000+ pin codes (up to 100 cities) with its own logistics by 2020 is the firm’s biggest vision!

"Recycle Device follows a unique, automated and hassle-free process that breaks the tedious procedure of selling devices online"

Hassle-Free Process
RecycleDevice follows a unique, automated and hassle-free process that breaks the tedious procedure of selling devices online. Firstly, the customer needs to select the device model on the platform by visiting web portal or downloading mobile application, post which few simple questions regarding the device condition are asked. Post this, the best quote for the device is determined based on the received answers. The customer can further proceed with placing the order by entering details like name, email ID, mobile number and address, after which a date & time slot is fixed for the pickup. When the field executive arrives at the designated location, he diagnoses the device, verifies the customer’s identity and ensures that the phone is completely formatted. Once all
these parameters are ticked, the executive instantly initiates the payment as per the method chosen by customer. All of this is done within 15-20 minutes and is a complete paperless process.

Once the device reaches RecycleDevice, it goes to a proper channel namely a recycling plant if dead, reconditioning plant if repair needs to be done, or directly to the retail outlet if in a good condition. The firm also maintains a database wherein all the transactions along with customers and channel partner’s details are duly recorded so that the future issues can be properly handled.

While the conversion rates in the industry range from 4-5 percent, RecycleDevice holds 6-8 percent conversion rate, which is a pretty bigger figure compared to other behemoths. It has also risen significantly in Alexa rankings in last 12 months with very little marketing budget coupled with in-house and dedicated SEO team. Currently dealing with order (received) volume of 5000 devices per month, this bootstrapped company is expecting to take this number to 10,000 per month in the next three months besides pitching to new investors to fulfill its mission of serving 100+ cities. It is also in talks with major recycling plants and reverse logistic companies to add more categories on its platform and become India’s biggest website, enabling customers to recycle anything electronic from the comfort of home.