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


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Why MarkITx is better than Tatooine

The resale market for used IT equipment is as dry and unfriendly as Tatooine. So what’s an IT pro supposed to do with their old servers, switches and routers?

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If you’re here reading this, you know MarkITx is a friendly planet. We provide you with a free valuation of what your gear is worth and, when you’re ready to buy or sell, our matching engine takes all the work out of finding what you need. Of course, you could always wait for the scavengers to haul away your droids. Maybe they will build clusters to calculate how in the world Han Solo did the Kessel Run in less than 12 parsecs (h/t Stupendous Man).

That Cisco switch gathering dust in the corner of your Rebel base? Yeah, it’s worth money. Want to justify a badass server to battle the dark side? Show your finance director how much you can offset the cost by selling some of your used equipment on the exchange.

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MarkITx is an equal opportunity IT exchange where all members and transactions are protected from Jawas and other rodent-like gear grubbers.

Even though we do our best to keep the tricksters at bay, on occasion, they slip through. Recently, one enterprising Jawa was spotted impersonating a trader on the MarkITx exchange. It’s unclear what this particular Jawa was planning to do with the money recouped through multiple trades. What is more annoying is the high-pitched complaints about sand in the equipment and overheating machines, but no one has yet to file a ticket.

Utinni!


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Feature Update: Now Serving More Orderly Orders

Our dev team just put the finishing touches on an overhaul of the Orders process. For those new to MarkITx, Orders are messages that communicate the price, quantity, timing and condition of IT gear on the exchange. When you place a bid or make an offer to sell some used equipment, you open a new Order.

The messaging around this process now includes a number of helpful clarity and speed improvements outlined below. As with every feature and function on the site, we know our work is never done. Your input helps shape the exchange so please share your feedback – good and bad (we can handle it) – by sending an email.

Product Detail Page

When available, the MarkITx Price Report is now easy to spot on the individual Product detail pages. If a product has open orders, you can now see the real-time supply and demand directly under the Price Report. All the market intelligence you need in one place!

New Orders

When you find yourself ready to open a new order, the process is as simple as answering a few quick questions. In record time, you’ll be able to let the market know if you’re buying or selling, the quantity, timing and condition of your gear.

Open Orders

Whether you’re managing one or hundreds of open orders, the new list view is now visually scannable, filterable and easy to make changes to several orders with a couple clicks.

Just click on an order to see all the details and make updates.

Simplified Conditions

Before these enhancements, we used to use a confusing letter system to differentiate the various conditions of your hardware. Now, if you’re a seller, you simply let us know what you have – new or used. If you are buying gear, let us know what you want – brand-new or pro-certified gear that has been inspected, refurbished and guaranteed. Nice and easy.

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Simplified Dates

Timing has been streamlined and all orders are now open for two weeks. If you want to stay on the market a little longer, just renew your order.

Planning ahead?
By default, your order goes on the market right away. But what if you’re making plans for future purchases? No problem – just pick your date and we’ll start lining up supply and demand now.

Matched Orders

Our two-sided exchange loves to match orders. Buyers make an offer, sellers ask a price and MarkITx helps bring them together. Now, with this new overhaul, once your order is matched with a buyer or seller, it’s easier to manage the associated shipping, payments and tracking update process.

Checkout

Last, but certainly not least, we’ve improved the way you pay for orders. The redesign now enables you to keep multiple credit cards and addresses on file for quick checkout. You can now pay via wire transfer, too.

It’s January and we’re only getting started. Watch this blog for many more exciting new enhancements in 2014 or Subscribe to the MarkITx feed and have our news sent to you!


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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
  • LunchMetrics-Dec2013

    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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Flubbing my Four Minutes of Fame at the Bloomberg Business Summit

As a startup CEO, there are many opportunities to pitch your company. Between fundraising, press interviews and scrappy word-of-mouth tactics that often involve testing your elevator pitch on unsuspecting family members during the holidays, I’ve had a lot of practice. With a continual loop of feedback from a broad range of people, I like to think I’ve honed my MarkITx story into a strong pitch that gets better over time.

Yet somehow, all the repetitive practice couldn’t have prepared me for my four minutes of fame at the recent Bloomberg Business Summit in Chicago. Naturally, it was incredibly humbling to be invited to present at an event that included Madeleine Albright, Eric Schmidt, Walter Isaacson and many other esteemed figureheads on the same bill. This was definitely the coolest collection of leaders I’ve ever been around. It also might explain why I was so incredibly nervous to tell the MarkITx story to a room full of business royalty, press and my wife.

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For those who know me, nerves are not something I typically deal with. I can pretty much talk to a rock if said rock were in a position to buy a seat on the MarkITx exchange or discuss the latest Blackhawks or Bears game. But I learned something really important about myself after this event. In short, I over-prepared.

For weeks, I read and re-read a carefully crafted pitch that told a sweeping tale of how some of the biggest commodities exchanges got their start. For days leading up to the event, I memorized key stats and trend data. Hours before the pitch, I continued to practice and remember all the words I had to cram into four minutes. All of this careful planning was to no avail. When the time came to stand up and tell my tale, I froze.

Just look at me. I was a fumbling, bumbling ball of nerves up there, reading word-for-word from the slides and breaking every presentation best practice that’s ever been written. All I could do was look at my wife and will her to run out and pull the fire alarm or set the carpet aflame to distract from my Bloomberg breakdown.

It’s a given that there will most certainly be nerves when you are presenting to an important audience. And many experts will tell you that the best way to combat those jitters is to be prepared.

In my case, I went to a preparation extreme – a tack that was way outside my normal modus operandi. And I now know that over-preparation doesn’t work for me. (Interestingly, once I let go of the fear and just told my story, things got better and I rocked the Q&A!)

Sure, there are hard and fast rules that accompany the perfect startup pitch. And if this were my first rodeo, I would think nothing of following these rules to the letter. But in this specific case, I was so star-struck by the venue and audience, I opted to wear an unfamiliar and obviously ill-fitting hat, one that resulted in a mangled pitch that sounded nothing like the smooth and natural story I’ve been telling for years.

To those of you who were unfortunate enough to have seen that pitch, I’m sorry and will buy you a drink next time I see you. For those startup entrepreneurs who will undoubtedly face a similar room someday, here’s my advice: Know yourself. Don’t try to be something you’re not. Think of these opportunities as one-on-one conversations and just tell your story with as much passion and fervor as you can muster. It is precisely that kind of enthusiasm and authenticity that will fill the room and speak for itself, louder and stronger than the nervous voice in your head telling you to run for the hills.


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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.


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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.