Accel Partners a venture capital firm managing more that 8.8$ billion has just closed a multimillion-dollar investment round in a mobile app for second hand classifieds.
Wallapop, a standalone app for second hand classifieds with 3 million users just got an investment from Accel Partners of around 6$ millions (5 million euros), the company didn’t state the total amount of investment but I believe you got the point.
Wallapop had received funding of 1.5 million dollars in April earlier this year, but okay let’s stop talking about the money and talk about the interesting part.
The young app
This mobile app started in October 2013 and in merely 6 months of starting up it broke the one million download record and right now they already have offices in Spain UK, France and Portugal. This shows you that there is a great appeal for using classifieds websites and apps.
But what’s different about this app from every other classifieds portal we covered is that in such a short time it got to this advanced level! When I first started researching classifieds sites I imagined that they’re a money making machine but a slow one, where you can start making real money only after a couple of years. But Wallapop breaks that misconception about classifieds portals, and this actually tells you that you can start covering your market now and start getting real money much sooner than expected.
How they did it?
Basically they tapped into a huge expanding market, if you look at the numbers since 2004 in Spain alone people re-using second hand items doubled in number in 2014 reaching 50.7% of the population. And the best way to deal in second hand items is through classifieds portals.
This trend is not only limited to Spain, I’m sure the trend will repeat itself in many other countries but now is the time to act and be dominant in that sector.
I keep saying that it’s really easy to do it now, but it got even easier with the new service we launched: yclas.com I mean, now with Yclas you don’t need to worry about website creation basics nor advanced knowledge, you just need those couple of minutes to create that website and tap into that market.
So don’t wait and I hope that I will be covering your website at some point here in this blog talking about the great success it became. Let me know your thoughts about this in the comment section below.
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