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April 11, 2013

Introducing Sold.

One can hardly spend ten minutes online without hearing a new complaint about marketplaces. “I don’t have time for eBay.” “Craigslist is sketchy!” We’ve heard it all and seen a number of attempts at solving this dilemma. But the issue is not that eBay and Craigslist are broken, it’s that they’re not one size fits all. That’s why we believe the solution isn’t creating a new marketplace, it’s solving an overlooked problem: the selling experience.

Think about it. Buying online gets all the attention. And it continues to get better. So, why is it still difficult to sell online? We believe it's because people are trying to create solutions that look great, instead of feel great. The only way to create a truly new solution is to start from the ground up.

Which brings us to Sold. (available on the App Store) - the new service that sells so you don’t have to. Through smart pricing analytics, a refined user experience, and genuine customer service, we’re reimagining the way people sell online - by taking the burden completely off their shoulders.

But why do people need someone to sell for them when they can just do it themselves? We know that affluent consumers have far less free time on their hands (138 hours of leisure time per year less than the average American), and they’re spending much of that precious time driving the growth in online retail spending (from $200b in 2011 up to a projected $327b by 2016). With buying being so much easier than selling, these consumers are storing instead of selling (US self storage rentals have increased by 65% since 1995). Not to mention the more than $30B sitting in the growing closets and drawers nationwide.

So, for the people in need of a service that sells for them, how do we fit into their busy schedules? Well, while they go on about their lives, we will:



  • Price their item
  • Find and negotiate with buyers
  • Handle shipping
  • Protect them from fraud
  • Never charge additional fees
  • Securely deposit funds into their bank account


It’s all about simplicity. Which is what our three co-founders, Matt Blackshaw, Tony DeVincenzi, and Dávid Lakatos learned after sleepless nights studying the idiosyncrasies of marketplaces at the MIT Media Lab, followed by endless rounds of user research. What it comes down to is people aren’t looking for an easier way to sell online, they want someone to do it for them.

That’s why we raised seed funding from Google Ventures, Greylock Partners, Matrix Partners, Boston Seed Capital, Dharmesh Shah, Greg Kidd, Matt Ocko, Eric Chen, and Anil Dharni. Then assembled a team inspired by the intersection between technology and culture. Together, we are an unconventional mix of scientists, engineers, writers, and designers in downtown Boston trying to solve a problem for all the busy people out there.

At the moment we are accommodating higher value items that fit into one of our three free shipping boxes, and are serving US-based customers only. But rest assured, we are working to expand.

Download the app and go find all your hidden treasures. If you need a little more convincing, watch the film below and see how easy it is to get money for things you don’t need anymore.

- The Team at Sold.






 

The Sold. team

Thoughts from Sold. headquarters