NEW YORK (MainStreet) -- What's happening in small business today?
1. This startup wants to buy your old cell phone. San Diego startup EcoATM has created a business around purchasing used mobile devices. The company operates a network of kiosks that will allow customers to trade in their used devices for cash, in-store credit or gift cards. EcoATM then resells the devices to the refurbishing market or recycles them, according to Fortune.
EcoATM's business has attracted investors, including the business it has modeled itself after -- Coinstar (CSTR). Fortune says Coinstar participated in EcoATM's $14.4 million Series A round early last year. It is also participating in a second round that is being announced today, according to the article.
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