Success Story of Cashify, Old gadgets become useless when they show the problem and do not give their best service. When people purchase a new device so, old ones become useless. Cashify makes those useless gadgets worthwhile by purchasing them. On this platform, people can give any gadget like mobile phones, and the company gives them money for giving gadgets.
Now, cashify has become a famous company on the internet. Many people like their services and choose them for their old gadgets. Actors like Rajkumar Rao work with them and help the company grow more. There is no one particular owner of the company. There are three founders, and they are the best decision maker. Let’s see more information about them and the company’s success.
About the founders of cashify:
Mandeep Manocha: He has been with this company from starting, and has now become the company’s CEO. He is also a founder of a company like Zazzy Box with Manak Waste Management Pvt. Ltd in his previous work. He also did some internships to become the best of himself. After doing engineering, he gets involved in this work.
Amit Sethi: He is interested in doing software engineering and chooses this as his career. He is also with this company for a very long time. Now he is in the CTO position and plays the main role in the growth or whole success of the cashify company.
Nakul Kumar: He gets a different position in the company, and his final position is CMO right now with the tag of the founder. He is a very interested guy who likes studying and contains many degrees. He also worked with other startup companies in the past
History and starting of cashify:
Reglobe was a previous name of this company when it was not getting much popular among people. When the company had the name Reglobe, it mainly worked on electric waste. The founders made the best decision for their company as good decision makers and received good results in 2015. They do not receive any benefits from it, so they switch their work from waste to re-commerce. They have many supportive big partners with their company, like Blume Venture of India.
Which Business Model Makes Cashify Successful?
Finding the right place to sell all your gadgets is not easy, and many businesses do not provide the right amount for the gadget. Their model of C2B plays the main role in success. The company becomes a place where people can sell their old gadgets and receive a good amount of money with a straightforward process. People can even use that money to buy another gadget, which is how they help people.
The growth process of cashify:
- The company buys old used devices and then makes them better. In the last step, they sell all gadgets in the market in the amount of margin. This strategy makes their revenue in billions. In 2021 they started with $15 million and increased the value to around 42 million.
- Three founders get an idea for cashify service when they want to buy an iPhone, but they don’t have much money for it, so they decide to sell their last phone, but they do not get any right platform with the right price for their service. They make their service of taking old phones and giving them the right amount of money.
- In starting their business, they always try to collaborate with big companies, like Amazon, which increases their growth every time.
- They also get partnered with some phone brands, like an apple. The gadget they receive in massive amounts is a Smartphone.
- They have many competitors, but they still proved and proved themselves in the e-commerce market. When they start growing, so they also make their store in reality all over the world. They continually expand their business in more and more places. They always had a good amount of funds, and this thing also helped them in growing.
- Their investors also help them grow the business, and the founders use the investment in the right way with their great strategy and good decision-making habits. All three founders play their different roles perfectly, and that’s why now cashify is one of the famous companies to sell the old gadgets in the market, and they earn from people’s used devices.
- The other thing which helps cashify in growing is their way of working. They make there all things easy to use, like their app. People can use their apps quickly and can sell their gadgets in them. They represent their self in a very god in front of people.
Achievement as a cashify:
- The website of cashify has become better and better now. The site has customers in the whole world more than 20 lakhs, and they bought devices more than 30 lakh. Cashify has stores of more than forty in many different places in India. They also have their app, which crossed a million downloads.
- The company sold the devices for more than twenty-one lakhs, and the cash they give is more than 1200 crore. Many big companies are partnered with them, and currently, they have partnered with more than 500, and they provide their service in different places easily.
Campaigns of cashify:
- Rajkumar Rao is a popular actor because of his acting skills, and many Indian people loved him for his acting. Cashify chose this actor to promote themselves, and the actor signed a contract with the brand. He gets even in many promotions areas and any other areas of cashify.
- Founders chose him because, according to them, he could be an excellent face for their company, and people could relate to him easily. It’s the right decision, and it works, and the company starts getting more benefits after the promotion.
Cashify is also now planning on their plan, like recycling phones. Anyone can visit their official website, where they tell about their success story from starting and how they get involved in this field. The founders are the inspiration of many people.