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The world’s leading mobile phone recycling firm, ReCellular, has recently announced that Investor Growth Capital (IGC) is investing $15 million in a Series A Preferred Stock financing.
ReCellular plans to use the new money to expand the reach and impact of the company. Among other initiatives, ReCellular plans to:
- Expand operations, opening new office facilities, consolidating processing facilities, and significantly increasing the number of Michigan employees
- Rapidly increase phone collections, focusing on direct-to-consumer and trade-in partnerships, and building consumer awareness of the benefits of cell phone recycling
- Evaluate strategic acquisitions of other electronics recycling businesses that could complement ReCellular’s expertise and operations
During the the past eight years, ReCellular’s revenues have increased an average of 25%. Today, the company is the leading collector, recycler and refurbisher of mobile phones in the world. This year, ReCellular is on track to process more than 6 million phones.
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
