Totem produces first profits since launching in 2009

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Totem, a startup in the mobile phone buyback industry, posted its first profits in October 2011 since launching in 2009.

Since ramping up its operations in April 2011, Totem turned its first profit in October 2011. The buyback program is rapidly earning a reputation as one of the most trustworthy online sources to sell used mobile devices.

Totem provides a simple, no-risk service that allows consumers to sell gently used and severely damaged devices so that they can fund their technology upgrades. Totem currently pays consumers and businesses cash for all generations of the iPhone, as well as select Blackberry, Motorola and HTC cell phones. In October, Totem began accepting all versions of the iPad and iPad 2, and in August, the company launched its highly successful B2B partnership program, allowing businesses to sell cell phones in volume.

Funded by a private group of Philadelphia-based investors, Totem has set the standards in cellular purchasing websites with an unprecedented 9 percent conversion rate. Projections show continued profitability going forward as consumer volume grows and expansion into the B2B space continues.

“It is an honor to discover how quickly and wholeheartedly our customers trust the services we are providing,” says Totem CEO Nicholas Fiorentino. “Our business motto is to only specialize in what we are good at, which is building a bridge between consumers who want cash for their unwanted, outdated technology and experts who specialize in refurbishing, recycling and reselling those products in an environmentally responsible way.”

Totem leads the industry in the services provided, attention to customer satisfaction and commitment to honoring quoted prices. Convenient and secure, Totem offers one of the quickest payment turnaround times in the industry with deposits made to PayPal accounts in less than three days instead of the two-week industry average. Customers regularly report that they receive a 20 percent to 50 percent higher payout from Totem, as well.

Totem is committed to providing the highest quality buyback program in the industry, while remaining true to its values of social responsibility. The company’s expert team of resellers, refurbishers and recyclers work diligently to ensure that consumers have an easy, efficient method to dispose of their old technology in a financially lucrative, yet environmentally friendly manner.


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Nicholas Fiorentino, CEO
(619) 321-6918
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