Listia

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Listia Inc
TypePublic
Foundation dateAugust 5, 2009 (2009-08-05)
Area servedWorldwide
Founder(s)Gee-Hwan Chuang
Key peopleGee-Hwan Chuang (Co-Founder, CEO, & Metrics Junkie)
James Fong (Co-Founder & Badge Collector)
Net income$1.5 Million
Websitelistia.com
 
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Listia Inc
TypePublic
Foundation dateAugust 5, 2009 (2009-08-05)
Area servedWorldwide
Founder(s)Gee-Hwan Chuang
Key peopleGee-Hwan Chuang (Co-Founder, CEO, & Metrics Junkie)
James Fong (Co-Founder & Badge Collector)
Net income$1.5 Million
Websitelistia.com

Listia.com is an online marketplace for trading goods between individuals, by using a virtual credit system instead of real money. The marketplace uses an auction system where users bid on each other's items until the auction ends and the highest bidder wins. The user who listed the item then arranges for a pickup or ships the item directly to the winner.[1]

Users earn credits during sign-up and then continue to earn more as they place items in the marketplace. Purchasing credits is also an option, and is Listia's main business model. Users also gain points by leaving feedback, buying credits directly, reporting listings that are against the rules, participating in promotions, and general courtesies. [2]

Listia is funded by the startup funding firm, Y Combinator.[1] Users must leave feedback at end of transactions and there is a dispute system available, should someone not follow through with stated rules. The Listia managing team handle cases sometimes within one or two days, otherwise up to one week. Points may be accumulated on various levels. Sellers have the option to charge shipping, but buyers can also sort through the menu via categories and include sorting said items with free shipping.

Listia was launched in August 2009.[1] In 2010, the site passed the 1,000,000 auction mark and was named one of the top 100 websites of 2010 by PC Magazine.[3]

In April 2011, Listia raised an additional $1.75M in funding from Andreessen-Horowitz, SV Angel and other investors. [4] They also announced the launch of their iPhone app to bring the marketplace to mobile devices.

To encourage bidding, the site occasionally adds in new "rewards" items. These are typically new consumer goods or electronics, generally purchased from Amazon.com or donating companies.[5]

References[edit]

  1. ^ a b c Michael Arrington (2009-08-05). "Listia Is An Awesome Way To Give And Get Free Stuff". 
  2. ^ Ben Parr (2009-08-19). "Listia Is eBay, But for Free Stuff". 
  3. ^ Heater, Brian (2010-08-16). "The Top 100 Web Sites of 2010". PC Magazine. 
  4. ^ Leena Rao (2011-04-19). "Andreessen Horowitz Leads $1.75M Round In Freebie Marketplace Listia". 
  5. ^ David Colker (2009-08-05). "Listia is like EBay, except everything is free (almost)". Los Angeles Times. 

External links[edit]