Introduction
Faida.com is a unique, one-of-a-kind marketplace which revolves around the use of bartered goods. Unlike in the US, people in India normally have a use-and-throw attitude towards most goods. However, bartering brings about a significant amount of flexibility in use, besides allowing users to find articles of immediate necessity very easily. This concept is being tapped to the fullest in India by Jaipur-based Faida.com, which was set up by Vipul Paliwal and Radhika Sharma.
About Faida’s platform
Faida’s platform is marked by its ease of use. Bartering involves putting up for use unwanted articles, and then finding the articles which one is interested in. An exchange request is sent, and the goods are exchanged after meeting is facilitated. The marketplace exchange model works without payment transactions-the only principle it operates on is that both users find each other possessing articles requiring use. Hence the name “faida”-meaning utility.
Currently, the goods which are bartered the most on this innovative marketplace include mobiles and tablets, electronics goods, music, movie and gaming CD’s, books, clothes and stationery. The offline and informal bartering campaigns which Vipul and Radhika found many people to be indulging in were thus given a massive boost by the startup, which was founded in March. Over 7000 items are currently listed on the easy-to-use online portal. It also lists articles based on how popular they are. Currently, the services are available in 12 cities-Hyderabad, Mumbai, Pune, Delhi, Ahmedabad, Gurgaon, Bangalore, Indore, Chandigarh, Jaipur, Kolkata and Chennai.
Bottom line
As Faida.com expands, one can expect a much larger scale of bartering to occur. Over one lakh exchanges have already occurred, and Faida.com is expected to notch up 50,000 listings soon. The portal’s innovative concept, its facilitation of the easy exchange on in-demand items and excellent market understanding are likely to propel its growth in the years ahead.
Visit the website to participate in this exciting venture, or for more info.
