MarkITx is a transparent B2B marketplace to buy, sell & trade used IT equipment.


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New MarkITx Feature: Instant Valuation parses attachments, shocks monkeys

MarkITx members have always been able to log in and upload a list of IT gear to see the true market value of their equipment. Now, we’ve made that process even easier. You don’t even have to log in!

Our new Instant Valuation feature parses email attachments like a pro. Just email a recent invoice, a photo of your equipment serial number, or an Excel file to value@markitx.com and our parser monkey will get to work.

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That’s it. Low effort = high reward. Knowing what your equipment is worth can help you justify buying some badass new gear sooner. And when our parser monkeys are busy helping you keep tabs on active markets for your servers, switches and other IT accoutrement, we have a better chance of keeping them away from alcohol.

Help put our parser monkey to work. Email your IT gear to value@markitx.com.

FINE PRINT: As with any new feature, the standard disclaimers apply: Expect some rough edges as we work out the kinks. No monkeys were injured or overly intoxicated during the creation or testing of this new feature.


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MarkITx LunchMetrics™: Data Science Doesn’t Break for Lunch

Startup life can be all-consuming. Anyone who has ever worked at a budding early-stage company knows the job doesn’t adhere to traditional business hours or routine meals. Here at MarkITx, we’ve witnessed Neil polish off a single-taco lunch with a breakfast sandwich chaser, and pretty much everyone can subsist on KIND bars, pretzels and multiple espresso shots (that’s four for Frank) at all times of the day.

So I suppose we shouldn’t have been too surprised when we discovered Bryan Harakh, our resident data scientist, has been crunching HappyGrams™ in a spreadsheet called LunchMetrics™.

Charted over the course of several months on a mostly-consistent basis, Bryan has combined quantitative data (e.g. the weight and price of his lunch meal) with other factors (lunch location, items, and “HappinessFactor”) to calculate an overall happiness-per-gram metric. Though this value set isn’t yet approaching “big data,” we can now report the following initial findings related to the care and feeding of our Chief Data Scientist:

  • Chipotle consistently scores the most HappyGrams™
  • Seven on State–though composed of a number of delicious stations–falls quite short of the average
  • There seems to be a larger-than-expected variance in portion size–even at the same restaurant and for the same order
  • Variety is important: restaurants are rarely visited more than once a week, and restaurants with a wide range of HappyGrams™ per dollar are visited with equal frequency
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    Building the industry’s first real-time exchange for trading IT equipment requires the right kind of fuel. Any opportunity to improve the efficiency of our technology and operations will be taken seriously. With the data model in place, more of us are going to start using LunchMetrics™. And now that data drives more than fair pricing algorithms around here, we can get smarter about maintaining a well-fed and happy team.

    We’ll return for a Q1 update to see if HappyGram levels remain constant and Chipotle continues to eat Taco Fresco’s lunch. Meantime, we’re going to make sure all our data is properly digested by taking Bryan out for his favorite meal. Bon appetit!


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A small ask from our CEO’s daughter, Bella Muscarello. If you can be of help, please let us know!

Care for Real Coat Drive

at MarkITX

October 21-25th

Dear Friends,

As most of you know, I have left the brick and mortar elementary school I have attended for the past 7 years to attend a virtual school that would allow me the flexibility to participate in the Elite program at IK Gymnastics.  Things are going well and I am adjusting to the new schedule, but I am realizing now, that I am missing certain aspects of my old school, including the “built in” opportunities to volunteer to help those less fortunate.  Especially now that the holidays are approaching, I would like to continue to do my part and give back to the community.  To do so, I have chosen to organize a coat drive for neighbors in need and my dad has generously offered to allow me to collect coats at MarkITX.

All gently used coats, hats, scarves & gloves collected will be donated to clients of Care for Real, a neighboring food pantry. Clients include seniors on fixed incomes that haven’t kept pace with inflation, people who have lost their jobs or their overtime and can no longer make ends meet, refugees who are trying to make a new start in this country never experiencing winter before and families who can’t stretch their paychecks to cover all their costs. They are of every race, religion, age and educational background. Approximately 60% of those they help are either seniors or children under the age of 18.

Please join me and help to make a difference by donating gently used outerwear to this special cause.  A hamper will be left in the office for collection October 21-25th.

Thank you for your consideration,

Bella Muscarello


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Growing, growing, gone!

Yesterday marked a new milestone for MarkITx. Back in May of 2012, our CEO and CTO were some of the first to move their company into the newly opened 1871 co-working space in Chicago’s Merchandise Mart. Believe it or not, we outgrew our space there a year later. This expansion forced us to move our team of 11 into a small, temporary, typical office style setting this summer, which seemed to cave in on us quicker than we expected as we added a few interns. Finally as of September 18th, we have a new space that we can call home, equipped and ready to seat 24 employees, comfortably when the time comes.  Complete opposite of the cubicle environment, we worked with Bear Construction to help build us a much more open, bright and modern office.

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If the pictures don’t provide enough evidence, we’re clearly a Mac family here.

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Our conference room is sure to keep anyone from dozing off mid-meeting.

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Of course, no office in Chicago would be complete without some kind of view. We’ve got ourselves a small little glimpse of the infamous Chicago Bean. photo (13)


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MarkITx is Named One of the Top 100 Finalists for the 12th Annual Chicago Innovation Awards

Chicago, IL— Out of a record-breaking 562 nominees, MarkITx of Chicago has been selected as one of the Top 100 Finalists still in the running for the 12th annual Chicago Innovation Awards.  The awards celebrate the most innovative new products and services in the Chicago region across all organization sizes, sectors and industries.  1500 business and civic leaders will come together to honor the winners when they are announced on October 30th at Chicago’s Harris Theater.

The innovation nominated by MarkITx offers a new transparent, marketplace bringing together buyers and sellers of used IT equipment with OEM-certified refurbishers who guarantee that the equipment is ready to go into production. Everyone benefits from real-time analysis of the market. Sellers increase their return on investment, extend their budget for new equipment, and predict the best time to refresh their current IT infrastructure. Buyers get a fair price, a safe transaction, and hardware that has been refurbished by an OEM-certified partner. MarkITx is an ideal marketplace for any enterprise hoping to stretch their hardware budget or monetize old equipment.

“Chicago is in the midst of a monumental upsurge in innovation,” said Tom Kuczmarski, co-founder with Chicago journalist Dan Miller of the awards.  “It’s inspiring to see the range of vision and the depth of talent among organizations in the Chicago area.  Companies are investing in innovation and taking more risks to launch new ventures and uncover new value.”

As one of the Top 100 Finalists, MarkITx will receive a $2,500 scholarship to attend The Practical Innovator, a day-long executive education course on September 27th led by top faculty who teach innovation at Northwestern’s Kellogg School of Management.

Each of the Top 100 Finalists is also in the running for the annual “People’s Choice Award,” selected through online balloting at www.chicagoinnovationawards.com.

Out of the Top 100 Finalists, the judges will select 10 winners of the Chicago Innovation Awards, as well as winners of the Up-and-Comer Awards representing innovation in the start-up community, the Social Innovator Award and the Collaboration Award.  The winners will be invited to ring the NASDAQ Bell in New York City, invited to separate meetings with Mayor Rahm Emanuel and Governor Quinn to discuss their innovation and profiled in Crain’s Chicago Business.

Contact:  MarkITx, trade@markitx.com

Chicago Innovation Awards:
Luke Tanen
Luke@chicagoinnovationawards.com
312-988-1516


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Increased Market Activity Around Cisco WS-C3750X-48PF-S

There has been a noticeable increase in website searches and market activity around the Cisco WS-C3750X-48PF-S unit this week on the MarkITx exchange. Interested in buying or selling this unit? MarkITx product pricing doesn’t hide behind a ‘Click for Quote’ button. Price transparency is a huge focus on the platform, allowing members to see what this unit is currently trading for and what it has traded for in the past. Retail price on the Cisco WS-C3750X-48PF-S unit is around $9,266, with a low price of $4,169 and $2,974 on the wholesale market.

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Get an inside view of the market while you’re trading, simply post your demand or supply and let our exchange do the rest of the work for you. All of our products are OEM certified-refurbished and we guarantee satisfaction. Learn more about the product here.


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Meet MarkITx, the ‘New York Stock Exchange of IT’

Used computer equipment — such as servers, switches and hard drives used by corporations and governments — is a commodity, so why not trade it like one?

That is the mantra of Frank Muscarello, 42, founder and CEO of MarkITx, an online exchange for enterprise IT hardware. MarkITx connects buyers and sellers, and inspects and refurbishes the equipment through one of its certified partners.

“We’re building a central clearing firm, right in the backyard of some of the largest clearing firms and trading firms in the world,” Mr. Muscarello said. “We like to say we’re the New York Stock Exchange of IT, where the only thing that matters in a marketplace is liquidity.”

He launched the company in April 2012 and now has $80 million in inventory on the site. After starting at incubator 1871, MarkITx moved out and recently raised $2.2 million in capital on top of the $1.1 million raised at the end of last year.

To watch the video and to see more of Lisa Leiter’s Entrepreneurs in Action series, click here.