ecoATM is a company that provides automated kiosks where consumers can sell their used mobile phones, tablets, and other electronic devices for cash. Founded in 2008 and headquartered in San Diego, California, ecoATM aims to promote the recycling and reuse of electronic devices, thereby reducing e-waste and its associated environmental impacts.

Key Features and Operations:

1. Automated Kiosks:

   - ecoATM kiosks are typically located in high-traffic areas such as shopping malls, grocery stores, and retail locations.

   - The kiosks use advanced technology, including artificial intelligence and computer vision, to assess the condition and value of the device being sold.

2. Device Evaluation:

   - Users can sell their devices by placing them into the kiosk, which scans and evaluates the device.

   - The kiosk checks for factors like model, condition, and functionality to determine the offer price.

   - After the evaluation, the user is presented with a cash offer, which they can accept to receive immediate payment.

3. Environmental Impact:

   - ecoATM aims to reduce electronic waste by promoting the recycling and reuse of old electronic devices.

   - Devices collected through ecoATM kiosks are either refurbished and resold or responsibly recycled if they are beyond repair.

4. Security Measures:

   - To prevent fraud and theft, ecoATM kiosks require users to provide identification, and the transaction is recorded.

   - The company collaborates with law enforcement to ensure stolen devices are not sold through their kiosks.

 Business Model:

ecoATM generates revenue by reselling the collected devices through various channels, including wholesale buyers, refurbishers, and secondary markets. This model not only helps in recycling electronics but also provides consumers with an easy way to dispose of their old devices responsibly while earning some cash.

Acquisition:

ecoATM was acquired by Outerwall (formerly Coinstar) in 2013, which was later acquired by Apollo Global Management in 2016. This acquisition helped expand ecoATM’s reach and capabilities.

Expansion and Partnerships:

Over the years, ecoATM has expanded its network of kiosks and formed partnerships with major retailers to increase accessibility for consumers looking to recycle their electronics. The company continues to innovate in the space of electronic recycling and sustainability.