Listia operates a peer-to-peer marketplace where users buy and sell used and free goods using an internal credit currency. The platform also runs a rewards store that lets sellers spend earned credit on new items; initial partners include Best Buy and added Amazon Gift Cards. Mobile usage has grown rapidly: about one-third of buying and 20% of listing activity occurs on mobile, and mobile use rose 100% in the prior three months. Listia has native iPhone and Android apps (iPhone launched ~two years earlier, Android in early 2012) and is investing in making the apps standalone. The company is exploring additional offerings such as a broad trade-in program for household items and expanded digital goods (game and gift card codes, potential CAD files for 3D printing). International expansion is planned but deferred until 2014 at the earliest, with Canada and the UK cited as early targets. Listia operates a marketplace that lets users list items they want to give away and bid on others’ items using site points that can be earned or purchased. The platform enforces engagement so items go to users who actually want them. Listia launched in 2009 and was incubated by Y Combinator. The company has expanded into mobile with a newly launched iPhone app that lets users browse, bid, list and find local pickup listings directly from their phones. It also introduced a business offering allowing companies to run contests and raffle items. Since launch Listia’s community has grown about 15% month-over-month, it coordinates thousands of transactions per day from thousands of users, and has facilitated transactions of goods worth $25 million. Listia operates an online marketplace that lets users list unwanted items for free and have others bid using site points rather than cash. Users earn points for signing up, listing items, and referring friends, and can also purchase points at $5 for 50 points. The points system is designed to reward users who value items most, reduce no-shows, and simplify handling responses compared with Craigslist. Charities can receive 100% of any paid-for points when a lister donates proceeds. Listia has rolled out Sponsored Listings for companies and organizations to manage free giveaways; the feature is currently free but the company plans to charge for it in the future. The company launched two months before the article and announced a $400,000 angel financing from Implistic Capital, with partner Adam Pearsall joining the board.

Total raised

$11M

Funding rounds

3

Latest round

Series A

Latest activity

Oct 2013