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Unprecedented Trade in Volumes Predict Millions of Original iPad Owners Ready to Upgrade

Gazelle commits Millions of Dollars to 10,000 iPad traders since iPad 2 announcement

BOSTON, March 10, 2011 /PRNewswire/ -- With the iPad 2 shipping tomorrow, the RECOMMERCE industry has already seen its busiest week yet with tens of thousands looking to trade in to trade up. More iPads were traded in last week than any product in CE history. As a result, Gazelle, the nation's leading RECOMMERCE service predicts that not only will the iPad 2 be an excellent product for Apple, but it will also be a great upgrade with millions of original iPad owners likely to purchase the iPad 2 within weeks of it being available. Gazelle expects to reach 10,000 iPad trade-ins by March 11th. This equates to approximately millions of dollars paid out to consumers who can use that cash to purchase the iPad 2.

Prior to the announcement of the iPad 2, the AT&T iPhone 4 was the largest trade-in event, when Gazelle received approximately 1,200 iPhone trades (across all models) on the day of the iPhone 4 announcement. The iPad doubled that record, when Gazelle received 2,400 trades within hours of Apple's announcement. To date, the 16gb iPad wifi is most popular model, representing 30% of trades. 64gb wifi + 3g is second with 20%. This predicts that the biggest group to upgrade will be 16gb owners likely looking to get more capacity in their new model.

"High desire for the iPad 2, combined with near immediate availability of the product and solid offers for original iPads is creating a perfect storm for upgraders," said Anthony Scarsella, Chief Gadget Officer, Gazelle. "The iPad 2 will be a great upgrade product for Apple, and we expect the iPad 2 will be flying off the shelves from the moment it's available."

At the time of this press release, the following iPads, if in perfect condition, would yield up to the following amounts:

  • Apple iPad 16GB wifi $300
  • Apple iPad 64GB wifi+3G: $530

All up-to-the minute pricing can be found at www.gazelle.com/ipad. Please note that all pricing is in real time and contingent upon supply and demand in the market.

After being founded in 2006, Gazelle has seen tremendous growth and become the leading player in the consumer RECOMMERCE space. Last year, the company achieved 150% growth while attracting more than 150,000 customers. In addition to its gazelle.com service, it has brought its industry leading customer experience to power electronics trade-in for some of the world's largest retailers, including Walmart.com, Sears, Kmart, Office Depot, and Costco.

Like every item that arrives at Gazelle, all iPads will be hand-inspected by Gazelle. Customers can rest assured knowing Gazelle will take care of data destruction and ensure their item is resold or responsibly recycled through its eSteward recycling partner, Cloud Blue.

ABOUT GAZELLE

Gazelle (www.gazelle.com), a service of Second Rotation, Inc., provides an easy, fast and safe way for consumers to get cash for their unwanted electronic devices. Gazelle takes the risk and effort out of selling electronic gadgets online and provides its users with benefits such as free shipping and packaging and comprehensive identity/data removal. To date, Gazelle has helped more than 150,000 consumers trade their used gadgets to de-clutter their lives, earn quick cash and generally lead a greener lifestyle. Based in Boston, Gazelle is backed by premier venture capital firms Physic Ventures, Venrock Associates and RockPort Capital Partners.

    PRESS CONTACT:
    Michael Schneider
    RF|Binder Partners
    (212) 994-7546
    [email protected]

SOURCE Gazelle

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