SquareTrade
 |
This article appears to be written like an advertisement. Please help improve it by rewriting promotional content from a neutral point of view and removing any inappropriate external links. (September 2010) |
 |
|
| Type | Privately held |
|---|---|
| Founded | 1999 |
| Headquarters | San Francisco, California |
| Area served | USA |
| Key people | Steven Abernethy, Co-founder & CEO Ahmed Khaishgi, Co-founder & COO |
| Products | Consumer Electronics and Appliances Warranty |
| Website | SquareTrade.com |
SquareTrade is an extended warranty service provider for consumer electronics and appliances headquartered in San Francisco’s financial district.
The company started off as an online dispute resolution service in 1999. In 2004, SquareTrade moved into the consumer electronic warranty segment.
The company’s underwriter is AmTrust Financial Services, Inc.
Contents |
[edit] Origins and History
Founded in 1999 by Steve Abernethy, Ahmed Khaishgi, and Lalitha Vaidyanathan, SquareTrade began as the first online dispute resolution service to resolve e-commerce disputes. In February 2000, SquareTrade launched its service in partnership with eBay and other online marketplaces providing a neutral dispute resolution service that was accessible for both buyers and sellers. It automated the dispute resolution process through an online direct negotiation tool.[1]
In 2000, SquareTrade also launched a merchant verification service, the SquareTrade Seal, for online sellers to display their credibility to potential buyers.[2][3]
In April 2000, SquareTrade received nine million dollars in second round venture funding led by Weston Presidio Capital and Chase Capital Partners [4] SquareTrade later discontinued its dispute resolution services in early 2008.
[edit] Products and Services
In 2004, SquareTrade began providing a direct to consumer warranty for electronics, appliances, computers, and other devices. The warranties are considered an alternative to instore retail warranties.[5] The company does not include loss and theft as part of their coverage.[6] SquareTrade is also the primary warranty provider for Amazon, Buy.com, Crutchfield, eCost, Vanns, and Woot, Abt.
[edit] Awards and Recognition
SquareTrade was named a Technology Pioneer in 2001 and 2002 by the World Economic Forum.[7]
CPR Institute of Dispute Resolution’s 2002 Outstanding Practical Achievement Award [8]
SquareTrade named one of the top 100 Web sites of 2010 by PC Magazine.[9]
SquareTrade was a finalist in 2010 American Business Awards(SM) [10]
[edit] Notes and Controversy
In February 2008, SquareTrade released information regarding notably high failure rates for the Xbox 360. The company found that the failure rate for the game system was 16.4% (almost 60% of the consoles that failed were due to general hardware failure, or the "Red Ring of Death"). [11] Microsoft spokesman, Joe DiMiero, responded by questioning the methodology, but did not release any data to refute SquareTrade's report.
Many fraudulent offers and emails were sent for automobiles, motorcycles and event tickets claiming that SquareTrade provides escrow or protection for these transactions.[citation needed]
[edit] References
- ^ "Getting to Yes - Online! SquareTrade's Online Dispute Resolution Service", http://www.auctionbytes.com. Retrieved 2010-09-08.
- ^ "How Online Retailers Go The Extra Mile for Clients". Retrieved 2010-09-08.
- ^ "Are eBay Users Getting a Square Deal from Square Trade?". Retrieved 2010-09-08.
- ^ "SquareTrade Secures $9 Million In Second Round of Venture Funding", http://findarticles.com. Retrieved 2010-09-08.
- ^ "Dealing with a cracked iPhone screen: Repair, other options", www.cnet.com. Retrieved 2010-09-08.
- ^ "Repair Contracts a betting game". Retrieved 2010-09-08.
- ^ "Building Large-Scale Online Dispute Resolution & Trustmark Systems", http://www.odr.info. Retrieved 2010-09-08.
- ^ "CPR's Recommended ADR Library List", www.cpradr.org. Retrieved 2010-09-08.
- ^ Heater, Brian (2010-08-16). "The Top 100 Web Sites of 2010". http://www.pcmag.com (PC Magazine). http://www.pcmag.com/article2/0,2817,2367732,00.asp. Retrieved Retrieved 2010-09-08.
- ^ "SquareTrade Named as Finalist in 2010 American Business Awards(SM)", http://www.marketwire.com. Retrieved 2010-09-08.
- ^ "Xbox 360 failure rate 23.7%, PS3 10%, Wii 2.7% - Study" http://www.gamespot.com Retrieved on 2010-09-08
