Swaptree: The new eBay?
Submitted by admin on Monday, 22 September 2008One Comment
Tags: 6 million, books music, boston, cds dvds, ebay, group trade, match, prints, safeguard scientifics, shipping, swaptree, trades, transaction fee, video games
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We’ve been covering Boston-based Swaptree since mid 2006. The company, which is creating a network of users who swap books, CDs, DVDs and video games, just raised a third round of financing - $3.3 million from Safeguard Scientifics. The total raised over three rounds is now $5.6 million.
To create a trade the company finds up to four users who have and want items that form a match. Then everyone prints out address forms from the site and pays the shipping (usually $2.50) to mail it directly to the next person.
One of the coolest features is the ability to enter a few items that you have that you are willing to trade - show you all of the items that you can receive for your items.
This is a model that was tried and later abandoned by the recently acquired Peerflix. Peerflix was DVD trading only, though, and charged a transaction fee. Swaptree doesn’t charge a transaction fee, and the group-trade approach that covers books, music, movies and games means lots more matches.
The company first launched a little over a year ago, and says more than 100,000 trades have been completed to date.
Source:TechCrunch.com
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