How has Letgo managed to grow?
The application, in which second-hand goods are traded, attracted more attention than expected. Cleverly designed advertisements also contributed to the spread of the application.
Letgo was founded in June 2015 by Alec Oxenford, Jordi Castello and Enrique Linares. This application, which was founded by three young men, managed to win the admiration of users all over the world in a short time.
Letgo achieved a rapid rise in the United States, where it was first released. The application, which was released in English, received updates in more than 10 languages in a short time and opened to other country markets. Its competitors are eBay and Craigslist.
In May 2016, the company merged with Wallapop, another mobile classifieds platform. According to SurveyMonkey data released by TechCrunch, at that time there were about 10 million monthly active users between the two apps. Since its launch, the company has not been charged for services as part of its rapid growth strategy. As of June 2018, some features have been made paid.
The app went live in Canada in October 2016 and Norway in November 2016. Again in 2016, 30 million downloads and 13.2 million monthly active users were reached. They also started to reach their annual target of 13.2 billion dollars quickly.
in 2018
They have reached 10 million users globally. Turkey became Letgo's second largest market after the USA. Auto is one of letgo's most popular and fastest growing categories. In 2018, the South African-based Naspers Group invested heavily in Letgo.
In September 2019, Naspers turned its investments in Letgo into a separate company, Prosus.
In March 2020, competitor OfferUp announced that they would acquire Letgo.
27 July 2022
Otoplus, the business branch of Letgo in the purchase and sale of second-hand vehicles, became a partner in the company by purchasing 25 percent of Pilot Garage, which provides auto expertise services in Turkey. As part of the partnership, a signing ceremony was held in Istanbul.