A company that provides you a platform both website and app where you are able to buy and sell stuff and also can chat locally with others, this is what Letgo is. This app is used in the United States,and the product was launched in 2015. Letgo app got downloaded around 2 million people on September 15. According to the ComScore, Letgo is the app that is growing very fast and is considered as the second fastest product growing in the United States in 2017. As currently, Letgo is able to have more than 100 million downloads.
As this article is about how does Letgo make money and earn a profit, it will be discussed shortly, but before that, you should know a little bit about what Letgo really is.
Letgo
Letgo is a platform independent product. It is available in play stores, apple store and is also available as a website. It is great because it can provide a lot of ease to the user. You can use Letgo in any kind of device whether it is an Android device or an iPhone or PC. You just need internet connectivity.
The product is specifically designed for purchasing and selling stuff by the users. Most people used this app using their smartphones gadgets as it is considered as more comfortable than using PCs as PCs cannot be available everywhere with the user. Also, the goods you will see on your app will be based on your geo-location. The ones closest to you will be displayed to you so you can be able to get them easily in case you want to. Another feature of this app is instant chats. Also, features like image recognition as well as video listings are also added to the app for pricing suggestions. As of last year, another section which is housing section was also added to the app which is great. You can say that Letgo is an online marketplace where you can get a lot of things for yourself.
If you want to buy, buy. If you want to sell, sell. Or, you can do both.
It is quite common for users to be curious about such apps that how they are able to earn money and get profits by providing free use of the app to them. Letgo is able to earn so much money and is successful is also due to the reason of being using a specific business model. The business model Letgo uses is quite reliable.In case, you are one of those people who are curious about how Letgo or such apps are able to make money then you should read below. Just so you know, this is specifically just for Letgo. So, some of the different ways that Letgo uses to earn money are as follows:
Attract Users
The most common strategy used by every app or product or whatever you are doing to attract as many customers or users you can to increase your app usage to generate revenue using different methods. Letgo is already successful in achieving such status that is to have a lot of customers and a marketplace. Letgo has already been downloaded in millions.
Ads
Another common strategy that is used by many of the apps is using the power of advertisement. Letgo uses the same power. Letgo has already a lot of users. It has been downloaded in millions of different users. So they just have to sell their advertising space to different companies. Ads services are also based on geo-location so the user can see ads relevant to their own area. Also, the products you mostly visit or view are the kind of products and ads you are more likely to receive and see on Letgo.
Bumps
Another recent feature that was introduced in the Letgo is Bumps. It is a premium feature. This feature provides a way to set the listing of your products to be shown to the top so that your products can be visible to the shoppers who are looking to buy things first. It is for a specific period of time. Letgo charges for this and is able to generate income through this feature. This feature is available with a limit of 24 hours.
Letgo Pro
Another way of making an income and generating profit is by using the premium version of Letgo, known as Letgo Pro. It is quite reliable and makes a lot simple to its audience to use. You can get a lot friendlier kind of dealerships using the pro version of Letgo. You are able to get exclusive excess. In case you do not trust this pro version, you can also have access to this version for free which will be available to you for 30 days. You can also. Letgo Pro provides such satisfaction that people uses its pro version too and this way Letgo can generate income and profits both as compared to the free version.
Some of the fun facts about Letgo are that it is growing a lot faster as compared to its predecessor. Craigslist can be considered a predecessor of Letgo. But, Letgo is a lot better than Craigslist due to its providence of mobile apps. Users can easily be able to connect with each other using the feature of instant messaging or live chats. It also uses the help of modern technology like artificial intelligence to deliver such ads which are interest to the users. The valuation at which Letgo stands as of now is around 1 billion dollars which are quite amazing.
These are some of the few ways that Letgo utilizes to earn money and make maximum profit.
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