OfferUp C2C eCommerce – a considered business in competition with Craigslist declares funding figures


Buying and selling marketplaces are on a rise. You will find at least one buy-sell marketplace that you are regularly using. It is the buy-sell marketplace that has made the customer-to-customer model of buying and selling a huge hit. The marketplace started out as a broad concept, just like the marketplace itself.

But, most marketplaces are global, which is why they don’t cater to local needs. The niche needs are increasing, and there is a need for local selling and buying. Who will cater to this need? You could not find a place that would offer buyers and sellers space to sell their products online. You have too many goods in your backyard, which needs to be disposed off. What will you do? Well, you will go to the offline stores and sell them. But, what if you could find your buyers while sitting at home?

OfferUp: A Brief Overview

OfferUp was created to fill in this gap, which was existent in the local markets from buying and selling perspective. Any seller or buyer could identify the local markets they wanted to connect with, and choose to sell or shop there. If you selected a particular market, you would be shown the products within that market. As a seller, you would be visible only in those markets which are defined by you.

It works on the premise established by Craiglist, but is more organized. As against the cluttered Craiglist platform, this one gives out a more methodic approach to buy/sell marketplace. It contains images instead of text, which makes it visually appealing. The easy to use interface along with the simple and easy to view list of items, makes this space attractive.

Unlike ebay, this deals locally, and it is easy to look for products in the local markets with this application. Craiglist is more like a classified site online, where you can post your ads and get connected with the buyers. But, this is an image based listing. The fact remains both serve to be a marketplace for services and products. Craiglist is similar in many ways to OfferUp, and differs only in the niche local, and the way the listings are done on the two sites. Of course, you need to have good photos, ensure you have mentioned all details in the ad before posting it to the application.

How OfferUp Works?

This site works more on the web 2.0 format. It works with the user reviews, which are essentially important in judging the products/services listed out on this site. If you are a buyer, you will check out the seller’s profile, the ratings provided to them, and the reviews that have been achieved by them over the period of their existence. The response time of the seller is also accounted for when you are selecting your seller. Along with the interface, the communication model developed by OfferUp is also pretty simple and easy to use. This is a more localized concept, which is why it is a hit. You don’t need to go through all the products/services that are offered on the site, and which are not offered in the local markets. The app is available for free for download, and has understood the mobile application importance well.

You just click a photo, post it to the site and make it live. It is as simple and easy as that for you to sell products and find prospective buyers on this site. It is basically a C2C ecommerce site segment, which is gaining visibility and popularity.

OfferUp Revenue Model

Currently, the company does not have a single source of revenue, and as per sources it does not generate any revenue as such. It is looking for funding to run its cause. The app can be downloaded for free, and the ads can be posted for free on this website. The company is currently looking at VCs to raise around $60 to $100 Mn fund to keep the start-up going. Eventually, it could start charging for posting the selling ad on this application. In-app ads could be a possible chance of revenue for this website, but as it is still growing that is too less against the revenue needs of this iOS app development.

Currently, Craiglist has more popularity as compared to OfferUp and other such start-ups. It will take OfferUp some more time to emerge as the winner in the C2C marketplace development segment.

Looking for similar ecommerce website development, get started with your niche idea, before building it into a complete application. You can also consider iOS and android app development for your idea.

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Vishal Nakum

Vishal Nakum is a tech enthusiast with a passion for exploring the latest developments in the world of technology. He has a keen interest in emerging technologies such as Artificial Intelligence, Machine Learning, and Blockchain, and enjoys keeping up-to-date with the latest trends and advancements in these fields. Vishal is an avid learner and is always on the lookout for new ways to expand his knowledge and skills. He is also a creative thinker and enjoys experimenting with new ideas and concepts. In his free time, Vishal enjoys playing video games and reading books on technology and science.