What Is the Monetization Model of Popular Marketplace Apps like Letgo and OfferUp? But, how these apps make money? Let’s check out.Īlso Read: How UrbanClap Works – On Demand Service Marketplace Business Model This once again proves that making applications in this arena is a sure shot way to success. According to statistics, it is proven that the individuals are spending an equal amount of time in these applications as they spend on Instagram and snapchat. Isn’t that stunning? In such a short span of time these applications are causing a ripple effect as mobile hybrids between Craigslist and eBay and so far users are loving it. Now that you know the business model of these popular apps, let’s see what results these key online buy-sell platforms are achieving: To put a cherry on the cake, the developers of apps like OfferUp have also integrated the feature in which sellers can upload the pictures of items they want to sell utilizing inbuilt camera functionality.Īside from the basic functionality, the OfferUp application also ensures privacy and let buyers and sellers build a profile page on which they can rate each other. Moreover, these apps also allow buyers and sellers to communicate and discuss the product specification privately using chat and call features built-in the app. Once the sellers come on-board, they can simply create Ads for the product they want to sell and the platform lets them connect with potential buyers. These apps are so easy to use that users can come on-board in just a few taps and start buying and selling in minutes. To put it simply, OfferUp and Letgo enable users to sell their stuff online in a specific area – effectively and profitably. Using these apps, people can easily advertise products, for which they are not able to find local buyers. The main functionality of applications like LetGo and OfferUp is that they give sellers an opportunity to advertise their products or services free of charge. Now that we know enough about the e-commerce marketplace apps and how the online shopping market is booming, let’s move forward and see how these apps work and the business model they follow to bring money to the table.Īlso Read: 3 Retail Mobile App Trends for 2019 that You Can’t Miss Now, before we proceed onward into the marketplace application development – how they work, the features your app like Offer up should have or the cost to develop sites like Walmart, OfferUp, letGo, let’s first put some spotlight on user’s behavior and sentiments towards shopping online: The stats mentioned above are the reason why your idea of investing in local marketplace apps like OfferUp and LetGo is a win-win.
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