Gazelle,  a popular high-end consumer electronics trade-in site, recently announced the introduction of a new referral program which has been designed to reward those customers who recommend the company website to their friends. Anytime a friend sells a gadget to Gazelle, the customer who recommended the company website stands a chance to win a $10 reward. Furthermore, Gazelle will also reward the referred friend with a $10 gift card. The rewards are redeemable at Amazon.com (News - Alert), the iTunes Store, Zappos, among others.

Boston-based, Gazelle is a privately owned company which is backed by premier venture capital firms  including - Venrock Associates, RockPort Capital Partners, Physic Ventures, and Craton Equity Partners.

In a statement, Sarah Welch, chief marketing officer at Gazelle, said that, "We're fortunate that the most common way customers hear about us is already from a friend or family member who had a great experience with Gazelle. We launched this program to thank our customers for the referrals and build on our word-of-mouth growth."

Visitors to Gazelle can sell high-end smartphones and Apple (News - Alert) products. Customers keen on earning rewards for recommending their friends can register on the website

Customers can also e-mail a message or post a Gazelle recommendation through social media sites such as Facebook (News - Alert) or Twitter. Once the friend or contact is ready to transact, all he or she has to do is access the Gazelle site using the unique link provided by their friend. As soon as the transaction is complete, both parties involved will be given their $10 reward. The referral program does not come with any limit which means a customer can refer any number of friends to the site. However, only referrals that have not previously transacted with Gazelle are eligible for the reward. Other terms and conditions also apply which can be looked up at the company website.