Move Loot Explained

Move Loot
Type:Private
Founded:2013
Hq Location:San Francisco, CA
Industry:E-commerce, Furniture, Retail
Founders:Bill Bobbitt (CEO)
Jenny Morrill (CMO)
Ryan Smith (CTO)
and Shruti Shah (COO)
Areas Served:San Francisco Bay Area
Raleigh-Durham, NC
Charlotte, NC
Atlanta, GA
New York, NY
Los Angeles, CA

Move Loot was a company and online marketplace for the buying and selling of secondhand (used) furniture.[1] Move Loot was headquartered in San Francisco, CA.[2] Move Loot served the following markets: San Francisco Bay Area, New York, New York, Los Angeles, California, Raleigh, North Carolina, Durham, North Carolina, Charlotte, North Carolina and Atlanta, Georgia.[3]

Overview

Users submitted photos of their goods online for appraisal, and the company then managed aspects of the selling, shipping and installation process.[4] The company assessed furniture prior to posting it, and had minimum standards for style and quality.[1] Move Loot earned 50% of the selling price when items were sold.[1] Part of the company's business paradigm was for less furniture to be sent to landfills and to increase the length of time furniture was used.[5]

History

Move Loot was founded by Bill Bobbitt (CEO), Jenny Morrill (CMO), Ryan Smith (CTO), and Shruti Shah (COO).[6] It launched in 2013. By October 2015, the service had 12 partnering retailers, 150 movers, and 100,000 users.[7]

Move Loot was backed by First Round Capital, Index Ventures, Google Ventures, Metamorphic Ventures, and others.[8] As of November 2015, Move Loot had received $21.8 M in funding.[9] It ceased operations in July 2016.[10]

Notes and References

  1. Web site: This Company Takes The Hassle Out Of Buying And Selling Second-Hand Furniture . Fast Co. Exist. 11 December 2015.
  2. News: Couch Wars: The Startup Trying to Corner the Used Furniture Market. Bloomberg.com . 18 June 2015 . Bloomberg. 6 November 2015.
  3. Web site: Move Loot launching e-commerce outlet for furniture retailers. 15 October 2015 . Furniture Today. 12 November 2015.
  4. Web site: If you're sick of buying furniture from IKEA and selling it on Craigslist, this startup wants to help. Business Insider Australia. 12 November 2015.
  5. Web site: Luppi, Kathleen . Have a couch you want to get rid of? . . January 1, 2016 . January 4, 2016.
  6. Web site: Move Loot co-founders power start-up's growth . Cincinnati Enquirer . 12 November 2015.
  7. Web site: 2015-10-15 . Move Loot launching e-commerce outlet for furniture retailers . 2022-07-17 . Furniture Today . en-US.
  8. Web site: Move Loot Raises A $2.8M Seed Round To Expand Its Online Furniture Consignment Store . 9 June 2014 . 12 November 2015.
  9. Web site: Move Loot $12.32 million Fundraising. William Bobbitt Filed Jul 17 SEC Form . 12 November 2015.
  10. Web site: Move Loot. www.moveloot.com. 2016-08-02. We're sorry to announce that as of today the Move Loot marketplace is coming to an end and we have ceased operations..