TipTop, a new venture from Postmates founder Bastian Lehmann, was recently joined by TechCrunch’s former editor-in-chief, Matthew Panzarino. With TipTop, forget about the hassle of traditional online selling—TipTop promises a smoother experience with instant cash offers and pickup services.
Panzarino’s transition to TipTop adds a layer of authenticity to the startup. However, TipTop has shifted its focus from collectors’ items to consumer electronics, providing quick payouts for smartphones, iPads, computers, game systems, cameras, and more.
Lehmann’s inspiration for TipTop stemmed from a desire to declutter a crowded garage, eventually honing in on consumer electronics due to their predictable price trends. TipTop’s team meticulously tracked 50,000 consumer products, primarily electronics, predicting their values over different timeframes. The result? TipTop Cash, an innovative approach to selling items you own.
TipTop Cash operates similarly to Shopify’s Shop app’s delivery tracking feature. By connecting your Gmail account (and soon, other emails) and optionally your Amazon account, TipTop compiles an in-app catalog based on your purchase data from digital receipts. Ready to sell? Choose between dropping the item off at a UPS Store or opting for an Uber courier pickup, leveraging Postmates’ delivery API.
According to Lehmann, TipTop Cash is like a “reverse Postmates.” It streamlines the process of getting your stuff out of the house, contrasting Postmates’ delivery of the city’s best into your home. While sellers might fetch more by handling sales themselves, TipTop emphasizes the convenience of instant cash offers, catering to those with limited time or inclination.
Since its September launch, TipTop Cash has cataloged an impressive $50 million in total receipt value among users. Looking ahead, TipTop plans to introduce push notifications, prompting users to sell when the price is right. A camera feature is also in the works, allowing users to scan items or receipts for cash offers, albeit without instant results due to higher fraud risks.
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