EBay drop-off chain begins to bloom with funding by Jacaranda.I SOLD It Inc., an eBay (eBay, Inc., San Jose, CA, www.ebay.com) The major auction service on the Web. eBay popularized the concept of buying and selling online, and both individuals and commercial enterprises list items for sale. drop-off store, recently raised $7.25 million in venture funding from Jacaranda jacaranda (jăk'ərăn`də): see bignonia. jacaranda Any plant of the genus Jacaranda (family Bignoniaceae), especially the two ornamental trees J. mimosifolia and J. cuspidifolia. Partners. Founded by former Mail Boxes Etc. executive Ken Sully, the two-year old Pasadena-based company has 170 franchise locations and another 400 eBay drop-off stores contracted to open next year. Drop-off stores are so named because customers drop off items they want to sell using an online auction site. The store then handles the auction posting, including photographs and descriptions, and manages the bidding and shipping. The company gets a 30 percent commission, or 20 percent for items that sell for more than $100. Operating in 35 states, iSold It generated more than $20 million in revenues for the first 10 months of 2005. About 40 employees work in the company's Pasadena Pasadena (păs'ədē`nə). 1 City (1990 pop. 131,591), Los Angeles co., S Calif., at the base of the San Gabriel Mts.; inc. 1866. headquarters, and Sully plans to expand to 55 over the next six months. Jacaranda's investment marks a first-round of outside funding for iSold It, which Sully initially bankrolled through private investments from friends and family. Sully said he plans to invest in technology and launch a $4 million ad campaign next year. EBay drop-off stores got a boost this fall from the movie "The 40 Year-Old Virgin," where one of the main characters operated an eBay drop-off site in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . The company teamed up with Universal Pictures for a promotion this month, offering an iSold It coupon tucked inside each new copy of the DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. . Staff reporter Hilary Hilary, from the Latin Hilarius, may refer to several different people, places, or things: Hilary means in latin "cheerful" People commonly known by the surname Hilary, or solely by the given name Hilary, Hilarius, or Hilaria include: |
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