Letgo is a free, person-to-person mobile phone app, launched in 2015. It allows users to buy, sell, and chat with others locally.
Video Letgo
History
Launched in January 2015 by Alec Oxenford, former CEO of OLX, an online merchandise market used by colleagues from outside the United States, along with Jordi Castello and Enrique Linares, the app initially targeted the US market, competing with eBay and Craigslist. , online market leaders since the 1990s. In September 2015, the company said its apps had 2 million downloads and half a million product listings.
Letgo raised $ 100 million in 2015, one of the five largest rounds of venture capital financing since 2008. After the merger in May 2016 with Wallapop, a competitor with a reported valuation of around $ 570 million, the company earned an additional $ 100 million.
Three quarters of the first-round investment of $ 100 million is scheduled for marketing. Crispin Porter Bogusky Miami advertising agency created a television advertising campaign for the app, directed by filmmaker Craig Gillespie. Each ad is based on extreme situations, such as someone hanging over a cliff that might fall because he is holding a bowling ball, where the sensible thing to do is to release the item. CP B Miami also created a series of four ads that allow customers to include pictures and descriptions of their items for sale directly to satirical video ads, such as featuring action films from Dolph Lundgren as mercenaries.
In May 2016, Letgo joined Wallapop, another mobile startup line. Letgo remains the majority owner of the company and the brand remains a letgo. At that time, there were about 10 million monthly active users between the two apps, according to SurveyMonkey data published by TechCrunch.
The company's valuation of more than $ 1 billion, as of September 2017, makes Letgo a unicorn company in startup terminology. At that time, Letgo has also raised $ 375 million in total capital. Letgo is the second fastest growing app in the United States, according to a comScore report released that month.
In January 2018, the Letgo app had about 75 million downloads, compared with 30 million in August 2016. In addition, it has 200 million second-hand lists and about 3 billion messages exchanged between users. The company says that they have repeat visitors every month in "tens of millions."
Letgo was launched in Canada in October 2016 and in Norway in November 2016.
Maps Letgo
Products
The letgo mobile app, offered for iOS and Android, facilitates the purchase and sale of used goods. The market, optimized for smartphones, displays great product photos for sale. No login required. Goods are displayed based on geo-locations closest to the buyer to make people-to-person transactions more likely. This app integrates with instant chats to facilitate communication between buyers and sellers. In January 2018, the housing section was added to the app.
See also
- Tech companies in the New York metropolitan area
References
Source of the article : Wikipedia
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