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?

Jawas2

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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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.


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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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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.


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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


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Really, Cisco? Boxes Are Dead?

“The days of boxes are over.”

So says Cisco chief John Chambers.

In a December interview, Chambers announced a seismic shift in strategy. Rattled by growing competition, the world’s largest networking equipment manufacturer says it’s leaving the box world behind and adopting a new software-and-service model.

Cisco’s massive new marketing campaign introduces “The Internet of Everything.” According to Cisco, we’re all connected — just one big, happy family of smiley people. Those that aren’t already connected will be, and sooner than you might think. It’s Metcalfe’s Law on steroids.

In response to this demand for connectivity, the need to reach out and give the world a virtual group hug, Cisco says they’re changing. No longer simple box builders, they’re going to design solutions that do everything. They’re going to work with civil engineers and governments to create optimal traffic patterns, clean water, you name it.

On the Internet of Everything, trees will talk to networks. Networks will talk to scientists about climate change. The power of multiple connections is a sexy, mind-blowing concept. Much more interesting than boring old boxes.

Cisco Internet of Everything

Boxes are dead. Service is where it’s at, says Chambers.

Only he left out one small detail…

The Internet of Everything Runs on Boxes.

Many, many, many boxes.

Boxes sold by Cisco.

Cisco’s making a change because they’ve been bleeding talent. Some of the best SDN innovators used to be on Cisco’s payroll, and now their startups are taking over the hardware space. Chambers may deny feeling the heat, but he’s definitely looking over his shoulder. And seeing some familiar faces.

Cisco products are no longer unique or innovative enough to compete. You can do more with open-source or in the cloud for less money. Hardware has become a commodity, one with lower prices and even lower profit margins.

Cisco needs to differentiate.

So they’re taking a page from IBM’s book. Faced with competition that’s more nimble, they’re investing in the future, a future in which, thanks to SDN, you can change things on the fly, in an instant, across the board.

But even changing things on the fly requires boxes. And Cisco’s certainly banking on all of the happy, connected people of the world buying Cisco boxes while they’re enjoying their smooth traffic patterns and clean drinking water.

Get Your Head out of the Cloud

You can operate in the cloud, but you have to come back down to earth sometime, and when you do, there’s a bunch of boxes down there. You still need hardware. Architecture. Infrastructure.

Cisco’s going to use cloud services to attract new box business. New customers might not be end users. They might be cloud providers. Cisco’s hoping they can use services to create ongoing relationships that increase client retention, a strategy with the potential to be infinitely more lucrative than just hoping for return hardware business.

Breathing Life Into the Box

Boxes are not dead. But Cisco’s right about one thing.

We’re amassing new connections at the speed of light. Innovation is moving at an insane rate. We’re going to need the right boxes to keep the “everything” running, and Cisco knows that. Every time we buy a box so we can talk to the trees, the networks, and the scientists, Cisco makes money. They’ll expand into markets they haven’t been able to tap before. Box customers will become service customers. Customers that pay licensing fees and recurring service fees. And Cisco will build ongoing relationships with them.

Which will help them sell more boxes.

Hardware vendors like Cisco are not getting out of the box business. They’re just figuring out new ways to make money on the box business. Adopting a new service model will help them move more product.


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MarkITx Raises $1.06 Million to Begin Disrupting a $348 Billion Industry

MarkITx has some exciting news we thought was worth sharing. We’ve raised over $1.06 million in angel funding which will allow us to move forward quicker than ever to begin disrupting a $348 billion industry, an industry that is currently screaming for disruption. For the past year our team has been hard at work building out a product that will make the process of buying, selling and upgrading IT equipment painless and most importantly we’ll provide real-time data analysis of the market which will ultimately help our members make smarter business decisions on behalf of their company. Thank you for your continued support, we cannot tell you how thrilled we are to continue building this platform out to reach its greatest potential. It’s nothing but up from here, folks!

Check out the announcement released in the press:

MarkITx, a transparent marketplace for buyers, sellers and wholesalers of secondary IT equipment, today announced that it has raised more than $1.06 million in angel funding led by Michael Balkin, Francis Wisnewski, Jack Keenan, John Ward and joined by other prominent Chicago Business Leaders.

Founded in 2012, MarkITx has developed a technology platform with a unique and proprietary algorithm to offer predictive pricing around the exact value of the depreciating IT. It allows for a major market disruption in a marketplace where there are currently no trusted, neutral parties, no clear brand leader or governance.

MarkITx’s unique platform manages the exchange of IT hardware, providing buyers and sellers with a real-time, transparent view of the secondary market. Using the platform, sellers are able to ship equipment to MarkITx’s OEM-certified partners where everything is inspected and refurbished before being sent on to the buyer. When delivery is accepted, money is released from escrow. Gartner estimates the secondary IT market is $348 Billion worldwide.

“We founded MarkITx with the vision to address a much needed void in the IT marketplace,” remarked serial entrepreneur and MarkITx Founder/CEO, Frank Muscarello. “MarkITx will effectively level the secondary, IT playing field by accurately and clearly communicating supply and demand to determine actual value.

Since kicking-off in April, MarkITx has already approximately $10M in Demand and $900,000 in Supply posted on its platform with a majority coming from Cisco Networking equipment and Apple iPads for the B2B space. MarkITx is using its seed financing to scale its team to meet customer demand and further build out its platform.

The leadership team consists of experienced entrepreneurs, Ben Blair, Marc Brooks and Muscarello, all of whom bring an understanding of both the trading and technology industries.

Muscarello commented on the fundraising “This is the first step in taking MarkITx toward the ultimate goal of revolutionizing the way that hardware is traded Globally. This funding is a small step towards achieving our goals and we look forward to changing the dynamics of the IT community. I want to thank our members for believing in MarkITx and our team, as well as our initial investors for their continued support.”

About MarkITx 
MarkITx is the premier online marketplace for buyers, sellers and wholesalers of secondary IT equipment. Launched in 2012, the site is already causing a major market disruption in the IT marketplace with over $1.0 million in transactions, $10.0 million in demand, and just under $1.0 million in supply. For more information, visit

Source: http://www.prweb.com/releases/2012/11/prweb10099130.htm