Listia Raises $9M in Series A Funding, Will Expand Mobile Platforms of Online Trading Marketplace

MOUNTAIN VIEW, Calif., Oct. 2, 2013 /PRNewswire-iReach/ -- Listia, Inc., the world's largest trading marketplace, today announced a $9M Series A funding round led by General Catalyst. Listia will use the capital to continue multiplying growth of their mobile app, while improving user experience. General Catalyst Partner Neil Sequeira will join Listia's board.

As the fastest-growing trading marketplace on the web, Listia has become the go-to resource for users who want to trade-in unwanted items for spendable credits. Credits can then be applied to any item posted on Listia, allowing users to acquire items they actually need and want, from the latest gadgets to jewelry, gaming systems to baby clothes.

"Our mobile app takes the hassle out of decluttering your home, and let you upgrade just about anything with just a few snaps from your phone's camera," said Gee Chuang, CEO of Listia. "The average home in America is riddled with over $7,000 in unused stuff, so we're thrilled to help people leverage that value to get things they actually want."

With a community of over 4 million users and over 12 million items traded to date, Listia has seen a 100% increase in mobile activity, with more than 20% of trades made via Listia's app on Android and iOS.

"We landscaped the entire trading marketplace because we believe it is a powerful and largely untapped multi-billion dollar market set to disrupt commerce and consumption," said Neil Sequeira, Managing Director at General Catalyst. " Listia rose to the top as the clear marketplace leader due to its remarkable traction, compelling mobile experience, strong monetization and astonishing consumer engagement."

About Listia

Listia is a trading marketplace that helps anyone turn their unwanted clutter into things they want and need, all for free. Founded in 2009, Listia is headquartered in the heart of Mountain View, CA and is backed by General Catalyst, Andreessen Horowitz, SV Angel and Y Combinator. For more information, visit www.listia.com. Download Listia's mobile app for both iPhone and Android devices.

Media Contact: Mabel Yoshimoto, Listia Inc., 925.586.4870, mabel@listia.com

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SOURCE Listia Inc.

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