| URL | http://www.listia.com |
|---|---|
| Type of site | online marketplace |
| Registration | Yes |
| Launched | August 5, 2009[1] |
| Current status | Active |
Listia is an online marketplace for trading goods between people using a virtual credit system instead of real money. The marketplace uses an auction system where users bid on each other's items until the auction ends, and the highest bidder wins. The user who listed the item then arranges for a pickup or ships the item directly to the winner.[1]
Users earn credits during sign-up and then continue to earn more as they place items in the marketplace. Purchasing credits is also an option, and this is Listia's main business model.[2]
Listia is funded by the startup funding firm, Y Combinator.[1]
Listia was launched in August 2009.[1]. In 2010, the site passed the 1,000,000 auction mark and was named one of the top 100 websites of 2010 by PC Magazine. [3]
To encourage bidding, the site occasionally adds in new "rewards" items. These are typically new consumer goods or electronics.[4]