Listia is an online marketplace for trading goods between individuals. The platform has a system known as PTS to facilitate the trades. Users earn PTS for giving away items they no longer need and can then use those PTS to get items that other users have listed. 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.
History
Listia originally received funding of $15,000 from startup funding firm Y Combinator. Listia was launched on August 6, 2009.[1] In October 2009, Listia received $400,000 in funding from Implistic Capital in an angel round with Adam Pearsall joining the board of directors.[2] Listia uses a system called "Listia Credits" to help facilitate trading on the site. Users can either purchase credits directly from the company, or earn credits by participating in the site such as by placing items in the marketplace.[3]
By 2010, the site passed the 1,000,000 auction mark and was named one of the top 100 websites of 2010 by