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About Back Market
Industries
Consumer Software
Social Impact
Consumer Goods
Company Size
501-1,000
Company Stage
Series E
Total Funding
$991M
Headquarters
Paris, France
Founded
2014
Overview
Back Market is a global marketplace that specializes in selling refurbished electronic devices. The company partners with professional refurbishers to ensure that each device meets strict quality and performance standards. By focusing on refurbished technology, Back Market aims to promote sustainability and reduce electronic waste, appealing to environmentally conscious consumers and budget-savvy shoppers who want high-quality tech at lower prices. The platform operates in multiple countries and uses a thorough vetting process to ensure the reliability of its products. Back Market's business model is commission-based, earning revenue from transactions on its platform, which allows for efficient scaling while maintaining quality control. Additionally, the company values work-life balance and flexibility for its employees, fostering a positive work environment.
Simplify's Take
What believers are saying
- Back Market raised $510 million, valuing it at $5.7 billion in January 2022.
- The global refurbished electronics market is projected to grow at a 12.1% CAGR until 2026.
- EU's Right to Repair legislation boosts demand for refurbished electronics in Europe.
What critics are saying
- Increased competition from Swappa and Decluttr threatens Back Market's market share.
- Potential backlash over environmental impact of international shipping could harm sustainability image.
- Challenges in maintaining quality control as the company scales could damage brand reputation.
What makes Back Market unique
- Back Market focuses on sustainability by promoting refurbished electronics to reduce e-waste.
- The company collaborates with professional refurbishers to ensure high-quality standards.
- Back Market operates in 13 countries, offering a wide reach for refurbished electronics.
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Funding
Total Funding
$991M
Above
Industry Average
Funded Over
5 Rounds
Industry standards
Benefits
Health Insurance
Flexible Work Hours
Remote Work Options
Paid Vacation
Parental Leave
401(k) Retirement Plan
401(k) Company Match
Mental Health Support
Company Equity
Paid Sick Leave
Paid Holidays
Hybrid Work Options
Wellness Program
Professional Development Budget
Conference Attendance Budget
Home Office Stipend
Phone/Internet Stipend
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 1%2 year growth
↓ -2%Back Market claims to offer high-quality professionally refurbished electronic devices and appliances to customers.
Back Market has joined France’s growing 2022 list of unicorns with mega funding this January, after reaching over €5 billion in valuation following a €449 million funding boost. This comes after a mega-funding round in May 2021 and reflects sustained belief in the young startup’s offering and French tech as a whole. The funding was [] The post Paris-based renewed electronics marketplace Back Market raises €449 million and becomes one of France’s most valuable startups appeared first on EU-Startups.
Back Market offers a marketplace for approved partners to sell old phones, tablets, smartwatches, and other electronics, thereby “up-cycling” them and reselling them to consumers who might want fairly new tech but just a little more affordably.
New York, New York--(Newsfile Corp. - January 11, 2022) - Today, Back Market closed an investment round of $510 million, following a $335 million Series D round in May 2021, bringing total investment to more than $1 billion since the company was founded in 2014. The round, which values Back Market at $5.7 billion, was led by new investor, Sprints Capital, with continued support from Back Market's existing ...
Check out the top VC deals in the ambitious French tech startups in Q2 2020 from here.
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About Back Market
Industries
Consumer Software
Social Impact
Consumer Goods
Company Size
501-1,000
Company Stage
Series E
Total Funding
$991M
Headquarters
Paris, France
Founded
2014
Back Market is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today