Swap.com

Swap.com
Private[1]
Industry Consignment
Founded January 2013 (January 2013)[2] in Bolingbrook, Illinois[3]
Founders
  • Juha Koponen
  • Jussi Koskinen
Headquarters Bollingbrook, IL[4], United States
Key people
  • Juha Koponen (Co-founder & CEO)
  • Jussi Koskinen (Co-Founder)
    Kelly Norris (SVP Operations)
  • Justin Knechtel (VP Marketing)

[5]

Products Pre-owned Baby, Kids’, Maternity and Women’s Clothing and accessories[6]
Website swap.com

Swap.com is an online consignment store offering pre-owned baby, kid's, maternity, and women's apparel and accessories. The company operates out of the Chicago suburb of Bolingbrook, Illinois.,[7] and is the U.S. subsidiary of Netcycler Inc., an international company based in Helsinki, Finland.

Sellers price their own items and Swap.com handles the fulfillment and returns process for items sold. Users can also trade or swap items on the site for free, which can be initiated when at least two users agree to swap items they have. Three-way trades are created when at least one user has something to trade, but wants something other than what their trade partner has to give.[8][9]

Company

Swap.com is a platform for buying and selling pre-owned items. Sellers send their items to the Swap.com fulfillment center in Bolingbrook, IL, and then Swap.com checks the items for quality, individually packages the items and holds the item(s) in their warehouse for sale to a shopper on the platform. Swap.com charges a service fee of $1.50 + 25% of the selling price of each item, as well as a $8.90 valet service fee for processing and listing items that are sent to its logistics center.

The service started in late 2012 when Netcycler Inc. acquired Swaptree, operating on the Swap.com domain. The company closed Swaptree and launched what is now Swap.com in 2013 in 12,000 square foot facility in Addison, IL and relocated to a 67,000 square foot facility in Bolingbrook, IL in 2014.

In March, 2014, Swap.com launched a women's apparel service with 25,000 women's apparel and accessory items. The service is now the largest online consignment retailer with more than 380,000 items available for purchase.

In September, 2015, Swap.com will relocate again to a 360,000 square foot facility in Bolingbrook, IL and employ more than 200 people.

References

  1. ↑ "Company Overview of Swap.com / Netcycler Inc.". crunchbase.com. CrunchBasek. Retrieved 17 August 2015.
  2. ↑ "Swap.com". crunchbase.com. CrunchBase. Retrieved 17 August 2015.
  3. ↑ "European Swapping Site Netcycler Confirms Acquisition Of U.S. Rival Swap.com; Launches New Service For Parents To Offload Kids' Kit". techcrunch.com. Retrieved 17 August 2015.
  4. ↑ "Swap.com". linkedin.com. Retrieved 17 August 2015.
  5. ↑ "About Swap.com". swap.com. Retrieved 17 August 2015.
  6. ↑ "About Swap.com". swap.com. Retrieved 17 August 2015.
  7. ↑ Kirsner, Scott (September 5, 2012). "After spending more than $11 million, Boston-based Swap.com acquired by Finnish startup for undisclosed amount". Retrieved 4 December 2014.
  8. ↑ Vantz, Ashlee (2006-05-24). "Six startups from the Web 2.0 swamp". The Register. Retrieved May 20, 2009.
  9. ↑ Copeland, Michael V. (2006-05-11). "The eBay of swap, but better". CNN. Retrieved May 20, 2009.
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