SquareTrade

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SquareTrade
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

SquareTrade is an extended warranty service provider for consumer electronics and appliances[1] headquartered in San Francisco's SoMa district.

Dispute resolution services[edit]

Co-founded in 1999 by Steve Abernethy and Ahmed Khaishgi, SquareTrade launched as the first online service for resolving e-commerce disputes. Working with online marketplaces such as eBay, the company utilized an online negotiation tool to automate the dispute resolution process between sellers and buyers. Between 1999 and 2001, SquareTrade raised $15M from JP Morgan Partners, Weston Presidio Capital and Draper Richards. That same year, the company launched a merchant-verification service, the SquareTrade Seal.[2][3] Both original services have since been discontinued.[4]

Warranty services[edit]

In 2006, SquareTrade began providing consumer protection plans for portable devices, appliances, and other electronics, both on-line and through large retailers. PC Magazine listed it as number 93 in its list of the best 100 web sites of the year.[5] In 2012, Bain Capital and Bain Capital Ventures announced they were investing $238 million in the company, marking the second largest venture capital deal of the year.[6]

The company's underwriter has been AmTrust Financial Services, Inc., but as of 2013, SquareTrade was shifting toward Starr Indemnity.[7]

References[edit]

  1. ^ Ramsey, Donovan X. (May 22, 2014). "Is It Worth It to Insure Your iWhatever?". Ebony. Retrieved 27 May 2014. 
  2. ^ Collier, Marsha (2007-08-27). Starting an eBay Business For Dummies. John Wiley & Sons. pp. 106–. ISBN 9780470230312. Retrieved 27 May 2014. 
  3. ^ McGrath, Lissa (2006-01-01). 20 Questions to Ask Before Selling on EBay. Career Press. pp. 56–. ISBN 9781564148544. Retrieved 27 May 2014. 
  4. ^ Cortés, Pablo (2010-09-13). Online Dispute Resolution for Consumers in the European Union. Routledge. pp. 149–. ISBN 9781136943508. Retrieved 27 May 2014. 
  5. ^ "The Top 100 Web Sites of 2010". PC Magazine. 2010-08-16. Retrieved 2013-04-03. 
  6. ^ "Top 15 venture capital deals of 2012". Venture Beat. 2012-12-28. Retrieved 2013-04-03. 
  7. ^ "Appliance Service Contract Underwriters, 17 October 2013". Warranty Week. 17 October 2013. Retrieved 27 May 2014. 

External links[edit]