How Does LetGo Make Money
LetGo is the most famous New York-based mobile classifieds app where you can buy, sell the goods from other persons locally. It is absolutely free to use. LetGo was founded by Alec Oxenford, Jordi Castello, and Enrique Linares. LetGo holds good for both iOS and Android devices. Let us see in detail about How Does LetGo Make Money.
Features of LetGo:
- LOGIN–No login is required to access this App.
- SALE AND BUY– You can sell and buy any product which you do not want to use anymore.
- PHOTOS– You can place products photos to make the customers attractive and sell your product easily.
- CONTACT– You can chat with the product owners or the people who are interested in your product. No charges for the messages you send.
- CATEGORIES– App provides various categories like books, music, children, auto, clothing, fashion, and accessories etc. Each and everything fits into these categories.
How does LetGo make money:
- It’s not clear how LetGo app makes money exactly but it does have rumors that its revenue is $175 which might be true of course nothing comes for free.
- LetGo might be selling its huge app users mobile behavior data which itself is very valuable enough as its user base is quite large.
- Due to the large user base transacting through the app, LetGo may plan to introduce payment gateway through which it may facilitate payments directly through the app for buying and selling the products with easy and convenient way.
- It might also allow advertisements on the app like most of the other similar category apps do.
- LetGo can monetize by selling the data they have already to the retailers which may give valuable and priceless insights.
- LetGo also may make money by applying some minimal fee on each transaction and get huge revenue due to its large user base.
- LetGo already occupies largest market share particularly in the United States in the e-commerce buy and sell industry and has more than 2 million users.
- LetGo also sells equity stakes in the company and make money.
- Investors are already looking to invest huge money as LetGo is co-founded by Alec Oxford who was also the co-founder for hugely success e-commerce buy and sells popular app called OLX.
- LetGo app also is expected to raise $23 million worth of transactions in six months span of time which clearly indicates that company is already planning how to make money from these transactions.
- Investment firms such as Naspers, New Enterprise Associates, Accel increased the lifetime investments to huge $375 million.
- Though there are a lot of rumors, some facts, some investments and a lot more but still at the moment, it’s still purely speculative how LetGo app makes money despite its aggressive marketing advertisements and app promotions.
How Does Letgo Works :
Letgo is a startup that works like mobile classified site/app where public buy and sell their used/new stuff easily and very quickly.The main theme of Letgo is to make people to buy and sell their stuff locally through them.
At present Letgo only focusing on United States and Canada which are giant markets in the world.You can sell an item on Letgo very simple by taking a snap of the item in Letgo app and list the details,chat with potential customers and sell the item.You can post an item within a matter of seconds.Also there is an option to chat with the buyers .
How Does LetGo Make Money Conclusion :
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