Sold

Sold was a technology startup that developed a service to streamline the process of selling used items online. The company offered an application for both iOS and Android, which managed the entire sales cycle for its users. By taking a few photos and providing a description, users could rely on the company's proprietary pricing calculator to determine an optimal price for their items. Sold then handled the subsequent steps, including the sale, shipping, and payment processing, aiming to remove the complexities typically associated with online selling.

The company secured $1.2 million in seed funding from a notable group of investors. This included Google Ventures, Greylock Partners, Matrix Partners, and Boston Seed Capital, alongside angel investors such as Rich Miner, Kevin Rose, Dharmesh Shah, and Reid Hoffman. The core mission of the startup was to provide a trustworthy and emotionally resonant service that positively impacted users by simplifying their lives.

In November 2013, Dropbox acquired Sold in what is characterized as an "acquihire." Following the acquisition, Sold ceased accepting new items and shut down its consumer-facing service. The team behind Sold joined Dropbox to contribute to the development of new user experiences, aligning with their original goal of creating products that positively affect people. The acquisition was seen as an opportunity for the Sold team to apply their expertise to Dropbox's large user base. One of the founders, Matt Blackshaw, indicated the move was driven by the chance to work on a new product within Dropbox.

Keywords: e-commerce service, online marketplace, item resale, automated pricing, shipping logistics, payment processing, startup acquisition, Dropbox, acquihire, mobile commerce, seed funding, Google Ventures, Greylock Partners, Matrix Partners, Boston Seed Capital, consumer services, iOS app, Android app, selling automation, user experience