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Recommerce website providing consumers with cash for their unwanted CDs, DVDs, Games and Electronics.
To drive further growth by facilitating the introduction of Faster Payments to customers; supporting the roll-out of the electronics product offering into the US; and increasing investment in Entertainment Magpie’s differentiated technology platform
Established in 2007 by co‐founders Steve Oliver (Group CEO) and Walter Gleeson (Group COO), musicMagpie.co.uk is the most popular recommerce website in Europe, providing consumers with cash for their unwanted CDs, DVDs, Games and Electronics.
NVM’s investment will primarily enable musicMagpie to launch its new ‘faster payment’ consumer offer which will in particular support the rapid acceleration of its trade‐in of electronics such as mobile phones, games consoles and laptops, along with enhancing the musicMagpie offer generally for all consumers who are seeking “quick cash”.
The investment by NVM comes as LDC exits the business following its investment in musicMagpie.co.uk in 2011 to support the business’ international expansion, which saw the business successfully launch its US website “decluttr.com” based in Atlanta.
Steve Oliver, CEO of musicMagpie.co.uk