Tagged: OfferUp Toggle Comment Threads | Keyboard Shortcuts

  • Geebo 9:05 am on May 10, 2017 Permalink | Reply
    Tags: , , OfferUp   

    AIM Group confirms our suspicions about OfferUp and LetGo 

    AIM Group confirms our suspicions about OfferUp and LetGo

    In a recent blog post, classifieds industry watchdog organization the AIM Group, appears to have confirmed some of our suspicions about classifieds apps OfferUp and LetGo. In our blog post about the Forbes article that called us ‘for naught’, we questioned the financial and userbase stats put out by the two apps. While we postulated the use of clickfarms may be involved, AIM Group founder Peter M. Zollman seems to believe the claims of success put out by both apps are fabricated.

    Regarding the claims of monetary success from both apps, Mr. Zollman had this to say…

    OfferUp “says it will handily surpass $20 billion in goods sold this year, with about half coming from car sales.” (To which we reply: “Oh really? And how do you value transactions when they never take place on the site, when listings are reposted over and over, when your users don’t have any transaction capabilities, and when user visits are no indicator of who’s actually buying or selling?” We don’t take estimates of sales on OfferUp, LetGo and similar sites with a grain of salt; we take them as unmitigated baloney, to use the polite term.)

    Mr. Zollman also calls LetGo’s claims that they will facilitate $23.4B in transactions baloney.

    With all due respect, the allegedly fictitious claims made by both apps seem to exhibit a desperate attempt to not only please current investors, but also to try to attract new investors in the ever-increasing shell game that is startup funding.

     
  • Geebo 8:57 am on May 4, 2017 Permalink | Reply
    Tags: , Forbes, , , OfferUp   

    Geebo is not for naught, despite what Forbes may say 

    Geebo is not for naught, despite what Forbes may say

    Recently, Forbes.com published a blog post about startup classifieds apps LetGo and OfferUp and how one of them may be the latest craigslist killer. By that we mean a proverbial David taking on the Goliath of craigslist, and not one of the 100+ murderers that have used craigslist to find their victims. We’ll get to those startups in a moment, but first a comment in the article made about Geebo needs to be addressed.

    Halfway down the page Geebo is dismissed by the Forbes blogger in the following manner…

    Every few years, someone in Silicon Valley looks at Craigslist and thinks he or she can do better. In the late 1990s, the startled newspaper companies tried collaborating with each other on various projects, and in 2000, Geebo launched as the “safe” Craigslist. In 2004, there was Oodle, a well-financed website that later tried to incorporate Facebook identities. All these efforts basically came to naught.

    The Forbes blogger seems to have not done his research as very little what he wrote about Geebo is correct. Geebo was founded in 1999, however, it was not launched as the “safe” alternative to craigslist as he put it. Geebo CEO Greg Collier founded Geebo to provide a better user experience than what was being put out by hard-copy newspapers. Not only that, but at the time of Geebo’s founding Mr. Collier had not even heard of craigslist as it had not yet become the brand that we know today. Mr. Collier even said that he didn’t want Geebo to be anything like craigslist. He also wanted Geebo to have its own users rather than trying to take users away from craigslist. Since that time Geebo has in fact marketed itself as a safer community classifieds. That’s a claim that Geebo takes very seriously considering the number of murders and other crimes that have been committed through the so-called industry leaders craigslist and Backpage. Even relative newcomer LetGo has had a couple of murders committed through its app.

    The rest of the Forbes blog post seems to be nothing more than a love letter to OfferUp. While OfferUp may not be headquartered in Silicon Valley, it still follows the same old Silicon Valley routine. They went to venture capitalists looking for seed money in order to get their startup off the ground. And let’s face it, apps like LetGo and OfferUp are usually founded for one primary reason and that’s to be bought out by a larger company. Geebo has always been a self funded company and has maintained profitability in an industry where many startups don’t even have a monetization plan. In fact Geebo generates more net profit than craigslist per 1 million users.

    Speaking of users, the Forbes post states that LetGo has a userbase of 7.3 million while OfferUp users come in around 6.3 million. Legitimate user numbers can be tricky in determining since a number of companies use click farms overseas to inflate their numbers. These click farms can also be used to scrape content from other sites.

    This isn’t even taking into consideration that Forbes.com isn’t the financial journal of record that it once was. A few years ago they opened up their website to just about anyone who cared to write for them. They have basically become a content farm for the financial sector.

    In conclusion, Geebo has been a successful business in an industry that has seen many proverbial bodies left in its wake. We were here before the startups and we’ll be here after they’re gone. All while maintaining a reputation of being an ethical and safer classifieds.

     
c
Compose new post
j
Next post/Next comment
k
Previous post/Previous comment
r
Reply
e
Edit
o
Show/Hide comments
t
Go to top
l
Go to login
h
Show/Hide help
shift + esc
Cancel