If you’re looking to get rid of some old furniture or knickknacks, Letgo could be a viable option for you to sell goods quickly and easily within your local area.
But how does a free app like Letgo make money? Read more below to find out!
Letgo makes money through:
‘Bump’ is a premium feature which puts the listed item in the spotlight to gain more attention from potential buyers. The feature costs $1.99 (per listing) for 24 hours.
Letgo raised $100 million in 2015.
Then, after the merger with the app Wallapop in 2016, Letgo raised an additional $100 million.
By 2017, Letgo had raised a total of $375 million.
Letgo is a free classifieds application where users can buy and sell items within their geographic area. It is currently available on iOS and Android.
The app uses instant chat to facilitate communication between buyers and sellers.
In order to start using Letgo, just follow these quick and easy steps:
Letgo claims it takes mere seconds to post an item for sale. All you need is a picture of the item you want to sell, and the application.
Their image recognition technology will automatically create a title and select the appropriate category for your listing. The listings are sorted based on relevance and distance from the user – and best of all, LetGo is free to use for every category.
If you are a buyer, you are able to filter your searches based on category, distance, price, and posting date.
The platform also lets buyers and sellers connect via chat to inquire more about items and/or determine pick-up date and location.
According to the Letgo Community Guidelines, here is a list of prohibited items:
The official statement from Letgo is, “Yes! Letgo is 100% free and doesn’t charge sellers a fee for posting their listings. We don’t take a percentage of our users’ sales either. Letgo offers in-app purchases to allow you to feature your listing. It’s an optional feature that we added to help users who want to draw extra attention to their listings.”
Letgo as a mobile app and company is reputable and has millions of users, and is safe to use on your mobile device.
However…Buyers and sellers should both be cautious when completing any transaction for goods and services sold online. Letgo does not offer any payment processing options and expects payments to be handled by the buyer and the seller. While most transactions will not pose any issue for either party, there are people out there waiting for the opportunity to scam others.
Letgo recommends that all payments be made using cash in-person or completing the transaction through PayPal. They suggest against checks or wire transfers.
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