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


Leave a comment

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.

EmailMonkeyWorkflowblog

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.


Leave a comment

Welcome Jones Lang LaSalle


Read about how Jones Lang LaSalle saves money and cuts e-waste in this Environmental Leader magazine article.


When people ask, “Frank, how is MarkITx doing?” I always have plenty of good news to report. Transaction volume is up 8x in the last three months, we have 1,200 users signed up for the exchange, we’re now doing business on 5 continents, our new office space is awesome… I could go on and on.

Our latest news is no exception. Yesterday we announced our relationship with Jones Lang LaSalle, one of the largest real estate brokerage firms in the nation.

The Data Center Division of Jones Lang LaSalle has already been active on the MarkITx exchange, trading used IT gear and supporting the firm’s global commitment to sustainable practices. What’s more, Matt, Sean, Andy and the Data Center team are helping their data center clients do the same.

Before MarkITx existed, large enterprise firms like Jones Lang LaSalle had to settle for pennies-on-the-dollar returns for their decommissioned IT equipment. Now they know the true market value of this gear as well as when there are active markets to trade it. As far as good news goes, we’re pretty damn stoked to be the ones facilitating better returns for everyone.

You can read more about this news on our press page.


Leave a comment

MarkITx Raises $2.15 Million in Second Round of Seed Funding

 

Newest Alumni of Startup Hub 1871 Opens Its Own Office and Hires as Platform Gains Market Traction

MarkITx, the premier online marketplace for buyers, sellers and wholesalers of secondary IT equipment, today announced that it has completed a $2.15 Million second round of seed funding. Every original MarkITx angel investor, including Michael Balkin, Francis Wisnewski, Jack Keenan, John Ward and other prominent Chicago business leaders, doubled down on their initial investment, bringing the company’s early financing to $3.31 million.

“This latest round of funding shows the commitment of our investors and reinforces their belief in our platform as a scalable and necessary means of disrupting the $320 billion secondary IT market,” said Frank Muscarello, serial entrepreneur and Founder/CEO of MarkITx.

One of the original members of the startup hub, 1871, MarkITx also holds the distinction of now becoming one of the original “graduates” of the co-working center for tech startups. MarkITx moved from 1871 to a temporary suite at 1 E Wacker Drive while its 2600 sq. ft. of permanent office space is being completed in the same building. The company now employs 11 people with plans to hire another 10 in a year.

“I congratulate MarkITx on its latest round of funding. 1871 is a hotbed of innovation, producing great companies around Chicago, and I look forward to continued great accomplishments,” said Chicago Mayor Rahm Emanuel.

MarkITx’s revolutionary platform brings buyers and sellers together by providing real-time values of depreciating IT equipment and access to the marketplace’s global inventory. Sellers shorten their technology refresh cycles by utilizing the platform’s value-over-time information. Buyers bid on listed products &/or indicate products they are looking to acquire which are not currently listed in the MarkITx marketplace.

From its initial beta launch in May 2012, the transparent two-sided market continues to gain traction; inventory levels now exceed $65 million with over $40M supply and $25 million in demand.

About MarkITx

MarkITx is changing the way the world trades IT. Founded in 2012, it is a transparent online marketplace for buyers, sellers and wholesalers of secondary IT equipment using real-time intelligence to determine market value based on current global supply and demand. The notion is that hardware is a commodity and therefore it should be traded like one. MarkITx is building the NYSE of IT to ultimately monitize the data and become the predictive IT marketplace.The Chicago-based company has been disrupting the $320 billion secondary IT market by keeping hardware sales safe and simple while partnering with leading OEM-certified refurbishers to provide the best value in the industry. For more information visit http://www.MarkITx.com or follow us on Twitter @MarkITx.

View original post here on PRWeb website


1 Comment

Cisco v. Juniper: Who Wins the Battle of Residual Value for Your IT Dollars?

cisco-vs-juniper

Cisco v. Juniper: Who Wins the Battle of Residual Value for Your IT Dollars? 

The Motley Fool recently concluded that Cisco, despite a slump in it’s routing and switching business, is a better stock pick than Juniper. But the report didn’t address the value of each company’s individual products.

Sure, CIOs recognize Cisco as THE leading network equipment manufacturer, a stat backed up by sales figures, but is Cisco really the BEST purchase for an entity looking to maximize its return on investment? The MarkITx team sought out to answer that question, and the results shocked even us. To get to the bottom of this burning question we analyzed one year’s worth of trades on eBay for refurbished Cisco and Juniper firewalls, VPN devices, and switches that could all still be purchased new through retail.

Here’s what we uncovered:

 1. Across the board, people are paying widely different amounts for the same piece of hardware. 

Refurbished Cisco Firewalls and VPNs sold for as high as 80% of retail and as low as 10% of retail and everything in between. Some buyers are paying 5 times too much while certain sellers are listing and selling products well under 25% of fair value.

It all comes back to a lack of transparency in the marketplace for the real value of the products. Enterprises have no understanding of the future depreciation of technology, let alone the current real-time value, because they haven’t had the proper tools and knowledge at their disposal*.

There’s no method to determining the list price on eBay and the marketplace doesn’t know what’s a good buy and what’s not. It may as well be the Wild West. What’s worse, enterprise sellers who sell into the wholesale channel typically receive less than 25% of the median eBay price.

 2. Juniper switches have a slightly lower overall residual value than Cisco, but Juniper switches hold their value over time better than Cisco switches. 

Based on industry perception, you would expect switches from both OEMs to have a very sharp drop off in resale value, but we discovered resale values between 35-50% of retail for products released a year prior, regardless of manufacturer.

Interestingly, the refurbished Cisco switches started out around 50% and followed a linear depreciation dropping to 35%. The refurbished Juniper switches continued to hold their value at around 40% across the 12-month study.

These findings contradict the OEMs’ drumbeat message that their customers need the latest and greatest. In fact, the data show that buyers of used networking equipment are more interested in expanding their existing footprint than they are in frequent upgrade cycles.

*CIOs and IT decision makers can breath a sigh of relief because the days of obscure used IT pricing is over. Our transparent two-sided market allows buyers and sellers to make the most informed purchase decision possible thanks to the MarkITx proprietary algorithms across many different data sources offering predictive pricing on the value of depreciating IT.