Ever wondered just how much of a lucrative business the second hand market is? Just ask Game Trading Technologies Inc, a company in Hunt Valley MD that has just raised an investment of $3.9 million to buy, refurbish and resell used games and consoles.
The recent public offering will enable the company to expand and purchase 320,000 used games and accessories. It will make for the second-largest acquisition in its history, according to spokesperson Jody Janson. The refurbished items will then be sold on to retailers such as 7-Eleven, to sell once more to consumers.
It's an example of just how much business the used games market rakes in, and on the back of this news it's little wonder that supermarkets in the UK such as Tesco and Asda are also jumping onto the lucrative industry.
Via Trading Markets