Phobo

About Phobo

Phobio, founded in 2010 by Stephen Wakeling and Drew Yeaton, operates as a specialized provider of device trade-in and buyback programs. The Atlanta-based company was born from the founders' desire to participate in the burgeoning tech startup culture they observed in the early 2000s. Wakeling, a wireless industry entrepreneur with a journalism background and a Harvard Business School alumnus, brings a passion for building better technology-powered services. Yeaton, the CTO, contributes his expertise as a designer and developer, having previously worked on projects for major tech companies like Google and Microsoft.

The core of Phobio's business is facilitating the trade-in of used electronic devices for retailers, enterprises, and other organizations. Its clientele includes major retail brands such as Apple, Costco, and Verizon. The company developed Apple's original Trade-In for Business program in 2018. Revenue is generated by managing the entire trade-in lifecycle, from providing the initial quote to processing the device and maximizing its value on the secondary market.

Phobio offers a suite of software platforms tailored to different market segments. "Phobio for Retail" provides a web-based, brandable platform that allows stores to offer trade-in services both online and in-store. For corporate clients, "Phobio for Business" serves as an IT asset buyback platform for companies to get value from their used desktops, laptops, tablets, and smartphones. The company also provides a self-service web portal, Phobio Portal, for smaller businesses or individuals, and a platform called "Phobio for Good" that allows non-profits to accept used electronics as donations. A key feature across its services is a proprietary software and real-time market analysis engine to determine competitive trade-in values. In 2021, the founders launched a new company, Assembly, to provide direct access between organizations selling used devices and Phobio's established network of buyers.