Technology moves so fast that consumer products are outdated just as quickly as they are purchased. So, what do you do with your outdated electronics? Three young Black entrepreneurs have created a way for people to safely buy and sell used electronics online.
In 2015, Steeve Simbert, his twin, Ally Simbert, and their friend Marc Estinville co-founded www.Stopoint.com – a web site that facilitates buying and selling used electronics (smart phones, tablets, laptops, and more). The company is based in Miami, Florida.
Immigrants from Haiti
The 3 of them are immigrants from Haiti, and not only are they proving that immigrants can be successful in the United States, but they are also giving back. They donate $5 from all purchases and sells to organizations that provide toys for the holidays for children in Haiti.
Their company goals
The company is based on three goals: to provide a safe environment, offer fair prices and provide fast payment. These fundamentals were the result of their own personal experience of being robbed while exchanging computer equipment. Customers selling used equipment on Stopoint receive their payment via PayPal within 24 hours. Customers who purchase equipment on Stopoint are ensured they are buying a product that has been cleaned and upgraded and sold at a fair price.
Over $300k in revenue in 3 months
Their service company is also doing the environment a favor by keeping used electronics out of already overflowing landfills. Everything is done online. When the company first started, the entrepreneurs were completing just a few transactions a day. But thanks to an article published by CNN, between Oct. 1 and Dec. 31, the company sold 1,500 products and generated $340,000 in revenue. Now business is booming for them.
The founders are now seeking investors so they can improve upon Stopoint systems to provide the fastest trading service in the industry. Their company has been recognized as a top company on CNET, The Wall Street Journal and The Huffington Post.