Optoro
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| Privately held company | |
| Industry | Computer software, reverse logistics |
| Founder | Tobin Moore, CEO; Adam Vitarello, President |
| Headquarters | Washington, D.C. |
| Website | http://optoro.com/ |
Optoro is a technology company that works with retailers and manufacturers to manage and then resell their returned and excess merchandise. These products, which range from consumer electronics to home goods to clothing, are automatically listed on online marketplaces, including Amazon, eBay, Buy.com, BestBuy, and its own eCommerce website BLINQ.com. Through these channels, Optoro has access to more than 500 million customers. Optoro also liquidates goods in bulk through its other proprietary website, BULQ.com.
Optoro was founded in 2004 by Tobin "Toby" Moore as eSpot while he was a student at Brown University. Moore and co-founder Adam Vitarello, now Optoro's president, opened one of the first eBay drop off stores in Washington, DC. In 2008, the company became Optoro, Inc., and the pair opened an office and warehouse in Lanham, Maryland, where they process goods from retailers. In September 2013, Optoro moved its corporate headquarters to a 13,000-square-foot office in downtown Chinatown, D.C. In June 2016, Optoro moved again to an office space located in the Metro Center neighborhood of Washington, D.C. with double the square footage, which now holds around 160 people.
Optoro's main product is a software-as-a-service called OptiTurn, which is used in retailers' warehouses to sort, process, and resell clients' returned and excess inventory. The software tracks and dispositions inventory as it flows through a warehouse until it reaches consumers. Using OptiTurn, workers mark the conditions of returned products as new, open box, refurbished, or used in good condition. OptiTurn analyzes this, along with other product information, to divert items to the channel that will get retailers the most money back. Possible dispositions include selling directly to consumers, reselling to wholesalers, returning to vendors for repair, donating, or recycling.
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