Market Overview

letgo Introduces Reveal Technology and Video Listings to Help Millions Sell Their Extra Stuff

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letgo Reveal instantly displays an item's secondhand value and more
on screen

Users can now add video to listings to showcase anything from a denim
jacket to jewelry

letgo,
the biggest and fastest growing app to buy and sell locally, today
introduced letgo Reveal and video listings, two innovations designed to
transform the idea of a secondhand marketplace. Reveal combines
real-time image recognition and other artificial intelligence to
instantly display an item's estimated value and other details on screen
when a user simply points a smartphone camera at it. letgo plans to
expand the technology over time to include additional insights. Video
listings enable the tens of millions of people who have downloaded
letgo's free app to add short clips to listings to showcase anything
from sneakers to a mountain bike. letgo is the only marketplace of its
kind with video listings or a feature like Reveal. Both are now
available to letgo users in the U.S.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180724005590/en/

letgo, the biggest and fastest growing app to buy and sell locally, today introduced letgo Reveal an ...

letgo, the biggest and fastest growing app to buy and sell locally, today introduced letgo Reveal and video listings, two innovations designed to transform the idea of a secondhand marketplace. (Photo: Business Wire)

letgo Reveal

Reveal's patent-pending technology helps users price their listings
competitively and sell more quickly by drawing insights from hundreds of
millions of other listings across letgo's marketplace. Users can
effortlessly see what almost anything they own is worth and how high
current demand is for similar items. With a tap, they can post something
for sale and letgo will automatically suggest a title, price and
category. Users can easily edit these details and add others anytime.

The new feature is built on the kind of cutting-edge technology that has
helped letgo become one of America's most popular apps since it launched
three years ago. More than 75 million people have already downloaded
letgo, which comScore
ranks second among the fastest growing apps in the U.S.

Video Listings

letgo users can now add videos to their listings, making it easy to show
an item from all angles. Videos appear alongside photos within listing
pages, search results and home feeds.

"We've created a new kind of marketplace - built on intuitive technology
and radical simplicity - because it should be as painless to resell
something as it was to buy it in the first place," said letgo cofounder
Alec Oxenford. "Reveal takes the guesswork out of selling secondhand,
while video listings are a new way to show off whatever you want to sell
when photos won't do it justice."

About letgo

With over 75 million downloads and hundreds of millions of listings, letgo is
the biggest and fastest growing app to buy and sell locally. One of
America's most popular apps, letgo's marketplace is filled with
everything from electronics, cars and collectibles to housing, clothing
and furniture. With innovative features like image recognition, video
listings and letgo Reveal, the free app makes it easy to list what you
don't need and find great deals nearby on anything you do. Listing
something is as simple as taking a photo because letgo's advanced
technology automatically suggests a title, price and category. letgo was
founded in 2015 by Alec Oxenford and Jordi Castello, with cofounder
Enrique Linares joining soon after.

Named among the "Hottest Startups" by Wired and "Best Apps" by Google,
letgo has raised capital from Naspers, Accel, Insight Venture Partners,
New Enterprise Associates, 14W, Eight Roads Ventures, Mangrove Capital
Partners and FJ Labs. The company's offices are located in New York and
Barcelona. For more information, visit letgo.com and
download letgo's app for Android and iOS devices.

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