Deals

Y Combinator’s Move Loot bags $2.5M to buy your old furniture

Image Credit: Flickr/Nick Findley

When thinking of buying and selling your old (Ikea?) furniture, a mild feeling of nausea and immediate desire to hide in a corner are likely your first reactions, no?

Luckily, brand new Y Combinator alumnus Move Loot just raised about $2.5 million to help make the process much, much smoother for everyone involved.

The company filed today a Form D with the U.S. Securities and Exchange Commission. Move Loot has raised so far just under their goal of $2.5 million from 15 investors, and the first sale occurred on March 31, just days after they presented at Y Combinator’s Demo Day.

In short, Move Loot is like a furniture consignment service for the digital age. Sellers upload pictures and details, Move Loot picks up the items, then takes care of listing them on their marketplace, arranging deliveries to buyers and sending the sellers’ money right back to them. Sellers make 50 percent of the listing price.

Move Loot currently picks up furniture within a 15-mile radius of San Francisco and delivers within a 20-mile radius of the city. It also does not accept certain items, including mattresses, electronics, curtains, and others.

We have reached out to the company and will update with a comment.

Move Loot was founded in 2013 by Bill Bobbitt, Jenny Karin Morrill, Shruti Shah, and Ryan Smith and partcipated in Y Combinator’s Winter 2014 class.

 

More information:

Y Combinator is a venture fund which focuses on seed investments to startup companies. It offers financing as well as business consulting along with other opportunities to 2-4 person companies looking to take an idea to a product. Y Co... read more »

Powered by VBProfiles

0 comments