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Fri October 25, 2013
Xconomy: Boston's Burgeoning 'Recommerce' Market
If you’re someone who buys the latest iPhone but you keep your old ones tucked away in a drawer, you might want to check out Gazelle. The Boston company is building a $100 million business around buying used devices and reselling them globally. This so-called “recommerce” market is growing, and Apple, Amazon, and other big companies are moving in. For Gazelle, it’ll be a real test to see if its focus on customer service and efficiency is enough to help it outmaneuver the big guys over time.
In other innovation news:
---NextCode Health is a new Cambridge spinout from deCode Genetics, which went from bankruptcy to being bought by Amgen in 2012. The idea is to apply personal genomics to patient care.
---Our startup of the week is Formlabs, a maker of 3D printers. The Somerville company has raised $19 million in venture funding as it looks to settle a patent lawsuit with 3D Systems.
---Speaking of VC money, WiTricity, another MIT startup, has pulled in $25 million to get its wireless power-charging technology into consumer devices and cars.
---And lastly, what do you do after selling your company to Oracle for $2 billion? Well, if you’re Andy Ory, the former CEO of Bedford’s Acme Packet, you take a six- month sabbatical. That means joining the board of Thinking Phone Networks, investing in a new VC fund, and making plans for the next big thing.