They're running a scam. They offer some of the best available trade-in values on the web. Once you send them your phone, they then send you far less by claiming you sent them an older model than you actually did.
I recently was quoted a value of $68 for my old iPhone 3GS. They sent me a check for $4 instead, claiming the phone was a iPhone 3G instead, despite lots of evidence to the contrary.
They refused to return the phone, citing their ambiguous "user agreement". They provide no phone number to contact them, and stopped returning emails once I threatened legal action.
Avoid doing business with this company.
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