Listia
Encyclopedia
Listia is an online marketplace
for trading goods between people using a virtual credit system instead of real money. The marketplace uses an auction
system where users bid on each other's items until the auction ends, and the highest bidder wins. The user who listed the item then arranges for a pickup or ships the item directly to the winner.
Users earn credits during sign-up and then continue to earn more as they place items in the marketplace. Purchasing credits is also an option, and this is Listia's main business model
.
Listia is funded by the startup
funding firm
, Y Combinator
.
Listia was launched in August 2009.. In 2010, the site passed the 1,000,000 auction mark and was named one of the top 100 websites of 2010 by PC Magazine.
To encourage bidding, the site occasionally adds in new "rewards" items. These are typically new consumer goods or electronics.
Online marketplace
Online marketplace refers to a type of ecommerce site where product and inventory information is provided by multiple third parties, whereas transactions are processes by the marketplace operator. Online marketplaces have become a driver of new business for online merchants that leverage them as...
for trading goods between people using a virtual credit system instead of real money. The marketplace uses an auction
Auction
An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder...
system where users bid on each other's items until the auction ends, and the highest bidder wins. The user who listed the item then arranges for a pickup or ships the item directly to the winner.
Users earn credits during sign-up and then continue to earn more as they place items in the marketplace. Purchasing credits is also an option, and this is Listia's main business model
Business model
A business model describes the rationale of how an organization creates, delivers, and captures value...
.
Listia is funded by the startup
Startup company
A startup company or startup is a company with a limited operating history. These companies, generally newly created, are in a phase of development and research for markets...
funding firm
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
, Y Combinator
Y Combinator
Y Combinator is an American seed-stage startup funding firm, started in March 2005. Y Combinator provides seed money, advice, and connections at two 3-month programs per year...
.
Listia was launched in August 2009.. In 2010, the site passed the 1,000,000 auction mark and was named one of the top 100 websites of 2010 by PC Magazine.
To encourage bidding, the site occasionally adds in new "rewards" items. These are typically new consumer goods or electronics.