Founded in 2007 by Steve Oliver and Walter Gleeson as a way for people to sell their unwanted CDs, DVDs and electronics, the business has evolved to focus on re-selling smartphones, tablets and game consoles.
by David Prior
Stockport-based musicMagpie looks set to become the latest company to float on the stock market with reports it could be valued at up to £250million.
Founded in 2007 by Steve Oliver (pictured) and Walter Gleeson as a way for people to sell their unwanted CDs, DVDs and electronics, the business has evolved to focus on re-selling smartphones, tablets and game consoles.
It was backed by the Manchester office of NVM Private Equity in 2015 and has thrived in lockdown, with group revenue up 18.1% to £153.4m for the year to November 2020, with EBITDA up 217% to £13m. In the US it trades from an Atlanta base under the decluttr brand.
Jan 21, 2021
Non-auction options like a 24/7 daily online marketplace, which provides a more retail-like purchasing experience with ‘Buy Now’ and ‘Make Offer’ options, have also drawn more digital buyers while increasing seller control over the price and process.
Shutterstock image
Among the many changes brought on by the COVID-19 pandemic was the halt of most in-person events, which can be problematic when you re in the business of auctioning commercial trucks.
Capability to bid remotely has been commonplace for many years, but the onset of the coronavirus – coupled with government restrictions on gathering in one place – forced a full transition for many auction houses coast-to-coast.