Friday, February 24, 2012
Totem Targets Businesses With Equipment Buybacks
San Diego-based Totem, a startup which buys and recycles used iPhones, BlackBerry, Android, tablet, and other devices from consumers and businesses, has recently launched a corporate division to buy back unwanted corporate equipment. The startup--headed by entrepreneur Nicholas Fiorentino--provides an online quote to purchase used equipment from both consumers and businesses. The firm came out of Fiorentino's efforts to initially buy used and broken iPhone and Craigslist, which he discovered was a lucrative business--enough that he was able to gain seed funding to grow the business. Totem said its new Totem for Business division recently retired 2,900 devices for a Fortune 100 organization, paying $383,400 to that company for its unwanted phone inventory. Totem also provides data erasure services to those corporate customers.