Giveaway operates a peer-to-peer marketplace that uses a virtual currency called Karma to let users list and claim free items. Users earn Karma coins for listing items, bid Karma in a timed auction to claim items, and complete transactions through the app where winners confirm receipt to trigger Karma exchange. The platform also supports user ratings and a purchase flow for Karma (one Karma ≈ $0.30). Giveaway takes a percentage of all Karma coins purchased on the platform (purchased Karma accounts for about 30 percent of all Karma) and sees an additional revenue opportunity via an enterprise product for corporate recycling. The founders are Artem Artemiuk, Siarhei Lepchankou, and Siarhei Stasilovich; they launched in Belarus, saw strong early growth, and since expanded to Russia, Ukraine, Kazakhstan, and the United States. The company emphasizes pre-moderation using a mix of machine learning and human review to block inappropriate items, and it has raised $150K from Y Combinator ahead of the accelerator’s demo day.

Total raised

$0M

Funding rounds

1

Latest round

Equity

Latest activity

Mar 2020