Finderly GmbH, the Vienna-based, Schibsted-owned company that operates flea market shopping app Shpock, announced a change in leadership this week.
Co-founders Katharina Klausberger and Armin Strbac stepped down, and Shpock’s former chief marketing officer Bernhard Baumann took over as CEO.
In a news release (here in German), the company said Klausberger and Strbac will remain involved in company strategy as board members.
The co-founders said, now that the project has grown up, it is time to set new accents and “start the next chapter in the success story” with new leadership.
With the Shpock app, sellers photograph and post their items for sale (or to give away at no cost) to buyers in their neigborhoods. Buyers make offers and exchange messages with sellers via the app. Once parties have agreed a purchase price, the buyer pays per PayPal, or pays the delivery man when he knocks on the door.
The service is free for both parties. Sellers can buy premium functions, so that their items appear higher in searches. Finderly also sells display-ad placements.
Finderly launched Shpock in 2012 in Austria and Germany, and grew quickly to become the No. 2 mobile stuff classifieds platform after EBay Kleinanzeigen. It soon added the U.K. to its core markets.
Less than a year later, it received seven-figure investment from Schibsted Classifieds Media (SCM), which then purchased a controlling stake (82 percent) in 2014. The terms of the deal were not disclosed.
In 2015, Finderly’s co-founders sold all but nine percent of their stakes in the company to SCM (again, terms not disclosed) but agreed to remain on as CEOs, retaining the original staff of 45 in Vienna. At that time, Shpock reported 10 million users, and the value of used goods listed at €2.5 billion ($2.6 billion U.S.). Media reports put the company’s value at €200 million ($214 million U.S.).
The company then began scaling even faster, adding Sweden, Norway and Italy to its core markets.
According to its site, the Shpock app today counts 10 million active users per month, and the value of used goods traded has risen to over €6 billion ($6.4 billion U.S.). The news release this week stated that in the last year, app downloads tripled to 30 million, and the Shpock team doubled from 60 to 120 people.
In addition to EBay, Shpock faces competition from similar second-hand marketplace apps, such as Gumtree, LetGo and Vinted.
Although, it seems as if LetGo is far more ambitious than Shpock. At this stage, the LetGo app operates in 53 country markets. Although Shpock is the older flea market, it still is only available in three languages and six countries, namely Austria, Germany, the U.K., Norway, Sweden and Italy.
Shpock has 33 vacant positions. Look at the team and the jobs here.