When did ReCellular come into existence?
We've been around since 1991, which means that we've been around long enough to be called an overnight success. [laughs] Initially, our business revolved around leasing cell phones to users back when a handset would cost thousands of dollars. But when carriers started subsidizing their phones at dramatically lower costs, we were stuck with a lot of old phones. It was then that we transitioned from a leasing company to a used phone sales company.
What is the need that you're trying to meet?
As cell phones have become more ubiquitous, we estimate that there are between 100 million and 130 million phones that are thrown away every year. That's a tremendous glut and it poses questions on what we should do with tech we no longer want or need. What we do is run the cell phone industry's program for , and other major industry players. They use us to handle their recycling program.
How big of a problem is electronic waste?