YBUY is a unique subscription service that lets individuals test out tech gadgets before fully investing in the product. By subscribing to the service for $25 per month, individuals can try out everything from iPads to advanced espresso machines for 30 days.
To help the company grow, YBUY recently received $1 million in funding from Google chair Eric Schmidt’s venture capital firm TomorrowVentures, according to a report by VentureBeat.
“YBUY has a strong product market fit,” YBUY CEO Stephen Svajian said, according to VentureBeat. “It’s clear that people love finding out about cool new products and they’ve shown they need to try those products before they commit to them financially.”
Subscribers can choose from any of YBUY’s unique product offerings, use it for its intended purposes for a month and mail it back free of shipping charges. While similar subscription commerce companies are becoming more popular, the ability to leverage next-generation appliances before making a commitment is relatively unheard of, the news source said.
Individuals also have the choice of purchasing the device after trying it out. In this situation, YBUY deducts the subscription price from the already discounted cost of the item and subscribers pay the remaining fee, VentureBeat noted.
As these types of businesses become more popular, it will be important for decision-makers to leverage subscription billing and management platforms that can keep track of different subscriber activity.