U.S. mobile classifieds app Letgo has added two new features to its platform: video listings and Letgo Reveal which will help users competitively price their unwanted goods.
In a news statement, the company said the new tools were “designed to transform the idea of a secondhand marketplace.”
“The most popular two-way marketplaces, like Airbnb, got there by focusing on simplicity, and that’s what’s behind Letgo’s thinking and success as well,” co-founder Alec Oxenford (LinkedIn profile) told VentureBeat. “These new features are the result of listening closely to users and finding new ways to use technology and smart design to make buying and selling secondhand much simpler.”
Letgo Reveal uses patented artificial intelligence technology to draw insights from listings across the marketplace. This information helps users price “for sale” items more competitively. It’ll also help them see what their unwanted goods are worth.
When posting a listing, the app will now automatically suggest a price, title and category. Letgo and VentureBeat have published a video explaining the process.
Letgo sellers can also start adding videos to their listings. The videos will appear alongside photos within listing pages, search results and home feeds and will help users show off all the angles of an item, the company said.
“Video listings are a new way to show off whatever you want to sell when photos won’t do it justice,” Oxenford added.
Founded in 2015, ComScore has named Letgo as one of the fastest growing apps in the U.S.. The app has been downloaded more than 75 million times and boasts “hundreds of millions of listings” across categories including real estate, vehicles and general used goods.
The company has offices in New York and Barcelona. It has raised $475 in funding from Naspers, Accel, Insight Venture Partners, New Enterprise Associates, 14W, Eight Roads Ventures, Mangrove Capital Partners and FJ Labs.