What do you think of when you hear the word “startup investments”. eCommerce of course. One of the known digital retail market that’s evolving for almost decades now. This scene is changing a bit now with, thanks to the rise of classified mobile apps.
This domain has, of late, seen some remarkable funding happening, that too from some of the most popular venture capitalists. More than $400 Million USD is what Buy Sell marketplace mobile app market has been funded with in 2016.
Undeniably Craigslist is the ‘Google’ in classified ads mobile app market but the veteran’s top spot is in jeopardy with the entry of some disruptive players like LetGo, Carousell and Offerup. These are the emerging players in the comparatively lesser known startup sector which are inspiring and will inspire more number of players to build clones or apps inspired off them.
Before that, aspirants need to know about the monetization opportunities that this domain holds. Read on to know more.
Business Model of LetGo, Carousell & Offerup
All of these these have one thing in common. None of them have come up with the business model yet or, in other words, are still tight lipped about their monetization plans. These Buy Sell mobile apps neither charge a fee for user profiles, transactions or number of listings. It is the waiting game that these players are up to and have sacrificed immediate revenue to beef up their user base.
Though it is still uncertain of the ways to earn money by letting people sell and buy things for free, there are certain possibilities for those planning to generate money by building a Letgo Clone App or Offerup app clones. Here they are.
The secret lies here: More User = More Transactions = More Revenue.
- Online transactions – Offline user-to-user live transactions could be turned online (mandatorily of course)
- In-app purchase – Additional pay for personalized suggestions or verified listings
- Shipping – Mediating shipping for a fee. This might even widen the location constraints prevailing over buying only from users located in close proximities
- Ads – Not external ads, promotions by user who list their products could make for an in-house ad network based revenue system.
Having done with the monetization prospects let’s dive into the efforts involved in developing a Carousell app clone or Letgo clone app.
The two best modes to fuel your dreams of building a Buy Sell marketplace mobile app like letgo clone is either to go for a custom app development with a dedicated team developing app from the scratch or ready-to-go solution.
Ready-to-go solutions cut down investment capital by a greater margin and reduce your time to market. All the essentials needed for building a classified mobile app like letgo will be pre-built leaving the development effort to just customizing it to business specific priorities.
Apptha Sell Buy is a readymade Letgo clone app that simplifies the job of creating a fully functional buy and sell mobile app.
Be it a Carousell app clone or a one that’s similar to LetGo, Apptha Buy Sell can get it done.
Apptha Buy Sell’s essentials for a Buy Sell Marketplace Mobile App
Buy Sell apps especially letgo, caraousell attract loads of customers as it allows users to sell and buy for free. With time the user base can be put to use with various improvisations. Now you know the big league players to compete with, multiple revenue streams to monetize from and less time-to-market to quick launch your own Buy-Sell Classified App.
My personal research 2021 best letgo clone (classified script) is classibuy, from Mindleef technology.