BuyBak offers retailers and online sellers websites with the ability to purchase online directly from consumers their no longer wanted consumer media (Books, CDs, DVDs, and Games) and Consumer Electronics inventory for online/offline resale.
Buybak.com's mission is to become the Internet standard in online applications for retailers and online sellers to purchase (buyback) households, businesses and retailers' "no longer wanted" inventory immediately and efficiently without online person-to-person auctions or marketplaces listings.
Business Buybak offers retailers and online sellers the ability to purchase "no longer wanted" inventory directly from consumers through online "buyback" websites provided by the Company. Buybak will provide its clients the ability to purchase over 2.5M unique SKU's of product directly from the largest inventory base in the world - consumers no longer wanted property. Buybak provides the capability to set buyback prices directly, via formula or through sales data acquired by large marketplace sites like Amazon.com to ensure desirable and predictable resale margins. Buybak also provides the ability to check-in acquired product in a locatable warehouse setting, such that either in-store or online the retailer is able to efficiently to sell, pick and ship committed product either online or offline.
The Company is self funded, has numerous clients, revenue generating and is breaking even on a cash flow basis.
Less than 4% of active registered users have ever sold anything on eBay or Amazon (an "active registered user" is any one who has transacted in the last 12 months) and less than 1% of American households have ever sold anything on eBay or Amazon.com. Nearly all online sellers/retailers desire a new, reliable and profitable source of salable product.
Buybak contracts with existing online and offline retailers (MarketMakers) in the Consumer Entertainment (CDs, DVDs, Video Games and Books (soon), Consumer Electronics (soon), Jewelry (soon), Sporting Goods (soon), Gift Cards/Certificates (soon), Office/Computer (soon) and other markets with an online purchasing, reverse logistics and supply channel solution for highly desirable, wholesale, high margin pre-owned product sourced directly from the seller. Buybak MarketMakers are provided with online tools to select and/or add products to purchase back online, expert/historical pricing data to accurately price buyback inventory and business processes to manage orders sourced directly from sellers via the Internet. As sites like eBay and Amazon have grown to sell previously owned product - retailers/online sellers who arguably sold the new item to that particular person initially are left out of the online secondary sale, due to their inability to offer an online buyback programs of their own (like brick and mortar stores are able to do - sell new and used; and buyback in-store) or insert themselves in the online pre-owned sales process through eBay, Half.com, Amazon or others.
Buybak also provides to its clients the ability to create and manage affiliate programs (the only one to do so). Third party websites are now able to participate in an affiliate program that refers their customers to a program that provides monies to their customer's pockets rather than out of it, plus a commission for them. Since no company offers this type of program Buybak believes that this (and other marketing programs that the Company offers) will be a significant driver to its clients and the Company success.
Buybak solves the following problems and offers the following benefits:
Provide MarketMakers with their own ability to purchase "no longer wanted" inventory from U.S. Households and retailers at wholesale prices. Currently retailers are unable to purchase pre-owned product online without significant development expense or through today's auction or fixed priced marketplaces; or offline in sufficient quantities.
Provide sellers with the ability to sell immediately their no longer wanted inventory for cash or credit.
• Provide both sellers and MarketMakers centralized order and payment processing through a single site.
Steve Bonneau, Founder of Buybak.com/Sell It Now.com. Prior experience - founder of Uzed.com and other buyback sites - Over $8M in revenue in 4 years with less than $50K in startup funds. Founder of !nfaxamation a Fax Service Bureau providing Broadcast Fax, Fax-on-Demand and other related services. Successfully sold company in 1995. Founder of numerous other technology startups. Formerly a Nuclear Engineering Consultant and Naval Nuclear Reactor Operator.
Darin Manica, Co-founder of Buybak.com and VP of Development. Over 8 years of experience in software and online application development with various firms as VP of Engineering or Lead Developer. Application design and architectural skills include J2EE technologies, Unix/Linix among many others and database skills include data modeling and advance use of Oracle and MySQL. Darin received his BS degree from Colorado State University and his Masters in Music from the University of Colorado.
Eileen Stout, Business Development Manager. Over 15 years of proven achievement in sales, marketing and business development in ecommerce, online marketing and solutions oriented IT services. In -depth knowledge of online marketing including SEO/SEM, paid search, email marketing, affiliate programs, website optimization, analytics and 3rd party marketplaces. Extensive experience in major account management, channel management and partnership programs, and business development. Held senior roles sales and business development with Infopia, Overstock.com, and Bid4Assets.com. Eileen received her B.S. from Southern Illinois University.
Company Advisors Gary A. Ross - COO Funimation, was the co-founder of the Suncoast retail chain. In addition to that, he also held executive positions at Blockbuster (EVP and President Emerging Brands), Musicland, The Gap and Target. Former Chairman of VSDA (Video Software Dealers Association)
Walter Duflock - Currently Senior Director of Channel Development for MerchantCircle. Prior to joining MerchantCircle, Walt launched and managed marketing initiatives for a number of programs at eBay for seven years, all aimed at helping small-to-medium eBay sellers grow their business.
Dan Porter - Currently SVP of Corporate Development for Virgin USA. Former VP of Business Development for BMG and founder of TicketWeb which was subsequently acquired by IAC.
Randy Smythe - Founder of GlacierBayDVD, top seller and 2nd highest eBay feedback rating; currently a Seller Evangelist and blogger at rksmythe.blogspot.com.
Andrew Preston - Currently CFO of DVDPlay.com. Mr. Preston was an interim CEO, CFO, COO and CMO for start-ups and turn-around companies through Venture Consulting and Valuations Group.
Buybak License and Transaction Fees "Powered By Buybak" Buyback Site; Start up Costs - No cost, Monthly Hosting Fee - $125, Per Unit Fee - ~$0.72/unit successfully received (18% of the buyback price based on an average buyback price of $4.00, which equates to approximately 8% of the resale price of the item assuming a 55% gross margin).