Brighton-based MPB snaps up $69M to build out its used camera equipment marketplace
https://techcrunch.com/2021/04/06/brighton-based-mpb-snaps-up-69m-to-build-out-its-used-camera-equipment-marketplace/
Used-goods marketplaces, an online staple since the beginning of the internet as we know it, have really come into their own during the Covid-19 pandemic: they’ve been a place for people clearing out their domestic spaces to list items that they have that are still in good shape, making some money in the process; and for buyers, they are a resource for finding items at a time when shopping in person and spending money in uncertain economic times have both fallen out of favor. Today, MPB — a popular marketplace that specializes in used cameras and photographic equipment — is announcing significant funding to double down on the opportunity after seeing its platform “recirculate” some 300,000 items of kit globally each year and pass £100 million ($139 million) in revenues this year.
The Brighton, England-based startup has snapped up £49.8 million (about $69 million at current exchange rates). It plans to use the money both to expand into more markets — it currently has offices in Brooklyn and Berlin — and into more product areas, specifically, extending the marketplace concept to serve content creators.