Thank you to the @teamstoryapp member & founder of @hubyard for posting us to PH. Relaced came about after we pivoted from our previous product MyCampus- which was a mobile marketplace for college students wasn't gaining traction as anticipated. Before we launched we posted a launch rock page that received 1500 signups in just 1 month from only 3000 visitors (50% conversion rate!!). Instead of starting from scratch we modified the existing application to be a suitable 1.0 for our new target market. Since we released the app on June 30th we've received over 9,000 registered users, who have posted over 13,000 pairs of shoes totaling $2,300,000! While this was great to see, our engagement within the app was what really struck us. We have over 1200 DAU's who open the app at least 3 times per day, and send over 2,500 messages between each other each day. We are seeing that this is a largely underserved market. We were able to establish partner channels early on that reduce our paid acquisition costs down to $0.08 per user in most cases. We're currently rebuilding the app completely from the ground up to incorporate improvements a result of collecting a mass amount of user feedback over the course of the last 2 months. We ultimately see ourselves not just being a marketplace for sneaker enthusiast, but eventually a marketplace for high-dollar-hard-to-find items. There have been a large amount of requests between users for trades, which poses a risk to most, so we have begun testing an MVP of a middleman trade service that is doing quite well, many user's are really receptive to it as it protects them by guaranteeing the delivering of the other user's shoes in which they are trading for. We are a team of 4, all of which work remotely (for now). We would love your feedback, as well as any insight's from individuals with experience scaling a marketplace.
Relaced