SquareTrade
Parent Allstate | | |
| Website | squaretrade squaretrade squaretrade | |
|---|---|---|
SquareTrade Inc. is an American extended warranty service provider for consumer electronics and appliances[1] headquartered in San Francisco's SoMa district.
Dispute resolution services
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
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
In 2006, SquareTrade began providing
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
AmTrust Financial Services, Inc., but as of 2013, SquareTrade was shifting toward Starr Indemnity.[7]
SquareTrade was acquired by Allstate in late 2016, for $1.4 billion,[8] joining Allstate's suite of consumer asset protection services.
Lawsuit
A class action law-suit was filed late 2016 against SquareTrade for selling protection plans to customers for products that are not eligible for coverage, where customers would only find out when filing a claim.[9]
References
- ^ Ramsey, Donovan X. (May 22, 2014). "Is It Worth It to Insure Your iWhatever?". Ebony. Retrieved 27 May 2014.
- ISBN 9780470230312. Retrieved 27 May 2014.
- ISBN 9781564148544. Retrieved 27 May 2014.
- ISBN 9781136943508. Retrieved 27 May 2014.
- PC Magazine. 2010-08-16. Retrieved 2013-04-03.
- Venture Beat. 2012-12-28. Retrieved 2013-04-03.
- ^ "Appliance Service Contract Underwriters, 17 October 2013". Warranty Week. 17 October 2013. Retrieved 27 May 2014.
- ^ "Allstate just shelled out $1.4 billion for a money-losing company". Crain's Chicago Business. Retrieved 2017-08-11.
- ^ Reformado, Wadi. "SquareTrade hit with class action". Retrieved 2017-08-26.
