Why Wallapop CEO Agustin Gomez Doesn’t Want To Talk About Fundraising

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Wallapop, up to now, has reportedly raised a ton of cash. However regardless of that, Wallapop CEO Agustin Gomez doesn’t need to speak about it as a result of he thinks it’s a distraction. Gomez spoke on stage at TechCrunch Disrupt London 2015.

“A very long time in the past we thought there was no upside to speaking about fundraising, we by no means remark, we hold a really low profile,” Gomez stated. “This can be a private viewpoint, the one ones keen on how a lot cash we now have within the financial institution are our rivals. I don’t see any upside about speaking about monetary elevating. We focus our communications and PR in subjects which are fascinating.”

That’s not all that shocking. Wallapop has stored a really low profile, although it has continued to develop and increase internationally. Most lately it acquired Promote It, based mostly out of New York, to construct a group in the USA. When requested how many individuals had heard of, and even used, Wallapop at TechCrunch Disrupt London 2015, there was hardly a hand raised within the crowd.

And it’s a far cry from many startups in Silicon Valley and in any other case, which are sometimes shouting from the mountain tops about how a lot cash they’ve raised. With the sum of money Wallapop has raised, it’s affordable to assume that it’s properly on its approach to unicorn standing (if it’s not already there). So there’s additionally the valuation query, which Gomez doesn’t assume is value speaking about.

“One thing that in Wallapop we now have management over fairly nicely isn’t speculating with the valuation of the corporate,” he stated. “Lots of people get mad — they assume the corporate is best if it has a better valuation. However if you assume in the long run, particularly in business of classifieds the place it takes years to take the market, you need to handle your valuation and be very coherent.”

Wallapop is a second-hand market application the place anybody can submit items they need to promote. The service then connects the consumers and sellers in the actual world the place they will full the transaction. The truth is, Wallapop was partially constructed to encourage these in-individual conferences, Gomez stated.

When it comes to the place the cash was going, Gomez was just a little extra candid: advertising. The corporate runs loads of TV campaigns, he stated — which is a medium that he inspired corporations to proceed taking a look at for mainstream audiences. The corporate has very low operational bills with simply 80 staff, Gomez stated on stage.

“We’ve discovered so much about the way to mix conventional TV advertising channels with an enormous digital strategy,” Gomez stated. “Wallapop is absolutely TV pushed. TV nonetheless works.”

Nonetheless, that doesn’t imply Wallapop isn’t experimenting with other forms of selling campaigns. At one level, Wallapop ran a type of experiment the place customers might record themselves. However even jokes like that may go a bit awry with some runaway success.

“We love to do these sorts of loopy experiments with a purpose to destroy our enterprise,” Gomez stated. “It was actually humorous, that was an excessive amount of success — we needed to reduce it down.”

Source : TechCrunch