Cashify net worth

Online marketplace offering pre-used gadgets and accessories. Most viewed in

Re-commerce marketplace Cashify continues to miss its target of turning profitable. This would be the second instance of the company missing its target of turning profitable. It had first targeted to post a profit by mid-FY22 and then by FY He added that the company may choose to invest in opportunities that come along and make a good case for investment. Cashify continues to struggle with increasing costs, particularly employee-related expenses, cost of buying used electronics and other expenses such as logistics , tech infrastructure and advertising costs. In FY23, for instance, its employee benefit expenses rose to Similarly, its cost of buying used electronics for resale rose to crore in FY23 from

Cashify net worth

Sales of used mobile phones and other electronic gadgets like speakers, laptops, tablets, gaming consoles, and smartwatches formed Rest of the operating revenue came from ancillary services such as phone recycling, refurbishing, and repairing which surged The company currently has stores with plans to expand that number to by March. When it comes to expenses, the cost of material consumed accounted for This cost grew Employee benefit expenses became the second major cost which constituted around During FY22, the company hired more resources and its cost on salaries and other benefits surged By March , Cashify also plans to hire close to people for its stores. This will further increase the expenses in FY To keep up with growth, the Gurugram-based company splurged heavily on marketing and ran campaigns across television and digital channels. Its advertising and promotional expenses ballooned 5. On a unit level, Cashify spent Rs 1. Filling a vital need in a large market like India, one feels the firm has missed a trick by not stressing on its reuse and recycle theme as a sustainability focused firm. Throw in the use of green energy for operations, and the firm could be a much prouder poster child for sustainability in a market as large as India.

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Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. Such launches of the latest gadgets that are blazing-fast and involve the most desirable of features always replace all the other previous models and come out imposingly strong! The above example of the launch of the latest iPhone 11 will certainly make the iPhone lovers run here and there from shop to shop just to buy the latest model. They won't ever think about what to do with the iPhone X that is lying back in their homes. It might be any other model or gadgets as well, of any other companies.

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. Such launches of the latest gadgets that are blazing-fast and involve the most desirable of features always replace all the other previous models and come out imposingly strong! The above example of the launch of the latest iPhone 11 will certainly make the iPhone lovers run here and there from shop to shop just to buy the latest model. They won't ever think about what to do with the iPhone X that is lying back in their homes. It might be any other model or gadgets as well, of any other companies. Here, Cashify can rightly be the solution. Cashify is a platform that helps you to sell your electronic gadgets like phones, tablets and laptops. The price will depend on the present condition of the gadget. With Cashify, the customers will definitely have wonderful experiences.

Cashify net worth

Paramark Ventures and existing backers including Bessemer Venture Partners, Blume Ventures and Olympus Capital also participated in the new round, which included some secondary transactions. IndigoEdge served as the financial advisor for this deal. Cashify operates an eponymous platform — both online and physical stores and kiosks — for users to sell and buy used smartphones, tablets, laptops and other gadgets. Additionally, Cashify also works with all top smartphone makers including Apple, Samsung, Xiaomi and Samsung to power their refurbishing programs. The startup repairs and refurbishes those devices, giving them new lives without which they may have likely ended up in the garbage bin, explained Mandeep Manocha, founder and chief executive of Cashify, in an interview with TechCrunch. A significant number of smartphones sold in the country — and beyond — get returned to the e-commerce or retail outlets. Many of these firms work with Cashify as well, said Manocha. But selling old smartphones requires establishing a high trust factor with consumers. Cashify has been expanding its presence in India through physical retail points in recent years to solidify this trust, Manocha said.

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View complete company profile of Cashify. In June , it raised donations to provide free refurbished mobile phones to non-profit organisations to support children dealing with the online shift of classes through its Donate for Education campaign. Facebook-f Twitter Linkedin-in Instagram. This article is an orphan , as no other articles link to it. My Mobile. Copy Url. The other one is SellingSimplified. The company has got a very simple revenue model. Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. Your Email. Furthermore, he will also be joining in with the campaigns of the other startups and help in the growth of the customer base of Cashify. November 16, IST. However, the regulatory environment within which they function remains subject to change. The company dealt with e-waste management. How much funding has Cashify raised till date?

Cashify board has approved the allotment of 15, preference shares for an issue price of Rs ,

What sectors and market segments does Cashify operate in? Between the two fiscal years, these figures show a slight but encouraging change in the company's financial picture. Categories : Retail companies established in Internet properties established in Online marketplaces of India Companies based in Gurgaon establishments in India. View more details of Cashify's Shareholding. Additionally, the buyback is guaranteed. Financial Literacy. How much funding has Cashify raised till date? Kul Bhushan March 11, The idea for the Cashify business originated when one of a group of 3 friends wanted to buy the latest iPhone and at the same time, sell off his Samsung phone in return for raising some funds. Cashify was known as ReGlobe. Funds own the majority of Cashify's shares, accounting for