Vigorous growth of the mobile Internet gains steam extensively in the development of mobile advertising services.
Mobile classifieds Letgo — mobile marketplace to buy and sell locally. Users can easily browse items for sale in their area, chat instantly and privately with other buyers and sellers nearby and complete transactions with confidence thanks to user ratings.
Letgo allows users to post an item for sale in just seconds, and, using cutting-edge image recognition built on proprietary artificial intelligence, letgo even auto-titles sellers’ listings for them.
Letgo Mobile classifieds has invited $200M investments. The Naspers is among investors that earlier invested in classifieds platform OLX, Avito and other.
Features of Letgo
— Focus on mobile audience of sellers and buyers.
— Focus on local sellers, who are near you.
— Automatic detection of class of goods (phone or channels) and names of
goods (model of goods) using the picture of goods, which was taken on the mobile phone of the seller 2 seconds ago.
— Chat and an opportunity to bargain about the price.
The new markets
Backgrounds for entry into new markets
1) Letgo focuses on mobile audience of local sellers and buyers.
2) Growth of mobile internet users is very important for the Letgo. The Company enters the markets, which grow extensively (Turkey, Poland and other markets) or the markets, which only start to grow (Ukraine) with an audience of mobile Internet due to implementation of 3G/4G/5G Internet. This is also a potential entry of the Letgo into the market of the Russian Federation (Avito) and other CIS markets, where the growth of mobile audience is also observed.
3) The users already have an experience of sales and purchases by means of OLX and other classifieds platform. In other words this audience is skilled and has an experience in C2C (customer-to-customer).
4) Perhaps, the OLX grows not so extensively as wished it to be, because сlassifieds platform OLX arose as desktop platform, though it doesn’t have mobile applications and mobile audience of users.