SOURCE: TradeYa

TradeYa

February 04, 2014 08:00 ET

TradeYa Raises $1.1M to Accelerate the Growth of Its Social Trading Platform Aimed at Empowering the Collaborative Economy

Backed by Research That Supports Societal Benefits of Social Bartering, the Platform Facilitates Trade Transactions by Connecting Compatible Users

SANTA MONICA, CA--(Marketwired - Feb 4, 2014) - TradeYa (www.tradeya.com) today announced that it has raised $1.1M from a network of investors to close out its go-to-market funding. This capital will be used to accelerate the growth of its newly launched flagship product -- a social platform for trading goods and services online. TradeYa's investments come from a network of angels across Los Angeles and Silicon Valley including Chris Hameetman, VP of Tech Coast Angels LA and Joe Addiego, partner at Alsop Louie Partners. "TradeYa is positioned to disrupt the current e-commerce platforms with the first viable trading/barter platform," said Addiego.

Aimed at the emerging sharing economy, TradeYa connects users and facilitates trades of items including electronics, gift cards, sporting equipment, vacation homes and much more, as well as any service including web design, cooking lessons and medical care.

"In the otherwise crowded online-goods ecosystem, TradeYa presents a rare and compelling value proposition with its unique mobile & web based barter platform -- positioned to explode through its innovative 'have it' 'want it' approach and its exclusive media alliance with the stars of A&E's Barter Kings," said Hameetman.

As the collaborative economy evolves to meet the needs of ever-changing distribution networks, TradeYa has harnessed social identity and intuitive technology to design a bartering marketplace that focuses on making the instinctual desire to barter frictionless and fun online. A user's targeted 'Wants,' 'Haves' and 'Likes' enable the service to provide a wholly new e-commerce model, anticipating and introducing tradable goods and services within each user's community.

When users join TradeYa they can instantly connect with their online communities through Facebook, Twitter or direct email invites. Users can browse what their friends have to offer or see what's on offer throughout the entire TradeYa community. The simple process for uploading goods and services combined with the immediately clickable "Want" and "Like" buttons allow trading to begin instantly and seamlessly.

"We recognized a need for a marketplace that helps individuals and communities trade goods and services easily and seamlessly," said TradeYa Co-Founder and CEO, Jared Krause. "More and more, people at all socio-economic levels are looking for fun, efficient, sustainable ways to get what they need and want. People are sick of waste and fundamentally want to connect with each other in helpful, useful ways. That's what the sharing economy is all about, and is at the heart of what TradeYa is offering. We provide people with a way to unlock their own value and get whatever they want in an environment that's social, fun, easy and safe."

In order to build the most intuitive and useful barter platform the team commissioned Harvard and Stanford-trained TradeYa Advisor David Baskin, Psy.D. Baskin found that human beings are innately social creatures that have evolved to prioritize mutually advantageous social exchange. Barter is an inherently social activity, and a fundamental form of social exchange that clearly predates any monetary system. Money-mediated transaction fails to account for the particularities of people and the unique ways in which they assign value to objects and services. Barter systems, can help to promote a sense of fairness by allowing each individual to determine the subjective worth of the goods and services on both sides of the transaction.

"The research shows that as humans, not only do we find bartering advantageous and fair, but we also enjoy and benefit from the social interaction and strengthening of community that is involved in the process," said Krause.

To learn more about TradeYa, please visit: www.tradeya.com

About TradeYa
TradeYa is a social, web bartering platform focused on the consumer goods and services market based in Venice Beach, California. TradeYa incorporated in Jan 2012, currently has 30,000 users, $4.3MM of goods and services available for trade on the platform.

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