Bilcyber Portal » Futuristic Kiosk Spits Out Cash for Recycled Electronics
Share |
Your are here: Home // Tech // Futuristic Kiosk Spits Out Cash for Recycled Electronics

Futuristic Kiosk Spits Out Cash for Recycled Electronics

Imagine stopping by your neighborhood retailer, offloading an old cell phone or laptop via an in-store kiosk and picking up cash for your device, just as you would get cash for coins through Coinstar or rent and return a RedBox DVD.

It’s a futuristic idea with tangible value that startup ecoATM is already making a reality.

ecoATM, a San Diego-based startup, has roughly 15 kiosks scattered throughout the southern California region, some at Westfield shopping malls in San Diego. These kiosks offer consumers a cash incentive to recycle their electronics.

Plop in an expired cell phone, overplayed MP3 player, no-longer-wanted video game or used-up ink cartridge, and ecoATM will determine the product, its estimated value — while factoring in damage — and make you an offer you might not be able refuse: cash in exchange for recycling your device.

It claims to offer highly competitive return rates, but its biggest value proposition may be the immediate gratification. From a consumer perspective, there’s very little reason not to use ecoATM over trying to hawk an old gadget online. The startup promises to wipe your device and spits out cash or store credit, no human contact required.

The system isn’t perfect. ecoATM eats the cost on the returned devices it can’t resell, and the process can take a few a minutes (see below) — but it is working. In one year of testing, ecoATM has recycled more than 50,000 devices, according to CMO and co-founder Mark Bowles. Bowles and team are mum on what that translates to in financial terms, nor are they willing to share how much it costs to produce each kiosk or the exact margin they make on recycled devices.

Right now, the startup is using its more than $14 million in funding to aggressively expand into more areas. Google can expect to see an ecoATM onsite in Mountain View within the next few weeks, and Microsoft’s Redmond campus already has one accepting recycled devices.

Monday, ecoATM is also upping its profile with a formal launch at DEMO’s Spring startup event in Palm Springs, California. Mashable stopped by the ecoATM station for a quick demonstration.

filed under: Tech Tagged with:

Leave a reply

You must be Logged in to post comment.

Copyright © 2009 Bilcyber Portal . All rights reserved.
Designed by Theme Junkie . Powered by WordPress.