Rumgr Overview and How it Works? [2024]

About Rumgr

Rumgr is a location-based marketplace. It’s as simple as taking a photo, and your item is for sale to everyone around you—no need to fill in boring descriptions, titles, tags, or even a price. In fact, after downloading the app, you can sell an item in a minute. Please find out how easy it should be to buy and sell. The company’s website lets people buy and sell in a classified format through their mobile devices.

Rumgr is a vibrant community of people buying and selling used goods, from popular electronics to kitchenware, furniture, and collectables. Besides, Shoppers navigate the big screen to discover unique items and get the best deals in their area. So, Sellers love the speed and simplicity of putting their products up for sale: Take a photo, and it’s immediately up for sale to your trusted group of friends, followers and neighbours.

Funding rounds

Number of funding rounds – 1

Total funding amount – $500,000

Know the following Questions About Rumgr:

What types of fundraising raised the most money?

How much money has this organization raised over time?

Rumgr raised a total of $500,000 in funding during one round. Further, It was a funding round raised on February 1, 2012.

Rumgr Overview

Rumgr is a location-based web and mobile marketplace developer. And also, the company’s website allows people to buy and sell in a categorized format through their mobile devices.

Contact information

Website – www.rumgr.com

Ownership Status – Acquired/Merged

Funding Status – Previously Approved by Angel

Primary Industry – Internet Retail

Other Industries – Internet Software

Buyer – eBay

Main Office – 317 South 6th Street, Las Vegas, NV 89104, USA

How Rumgr Work?

• As of now, Rumgr, which is in beta and attracting a small but loyal following to its Las Vegas base, hopes to help solve this problem. And also, the company, founded by former Zappos employees Dylan Bathurst, Ray Morgan and Alex Coleman, has released the second version of its iPhone app. In addition, this tool lets shoppers see what’s selling near the location, where they are in the world now, allowing sellers to post an ad in seconds.
• The idea is simple. It intends around the idea of ​​discovery: allowing shoppers to see what’s on sale near them rather than helping people find specific types of items. For a seller, it’s as simple as clicking the “sell” button in the app and snapping a quick photo of their couch, table, or stack of video games. You can let the image speak for itself, or if you want, you can leave a description in the comments section of the article. And that’s it. In many ways, that’s what a Craigslist mobile app should be, minus the Craigslist ads.
• Since all Rumgr listings are geolocated, potential buyers can quickly see all items for sale nearby. However, for security reasons, only the general location is shown, not the actual address.
• Once the seller and buyer agree on a price, they could keep their conversation private to discuss the final details. Now, however, buyers can click an offer button and enter the price they want to pay. If the seller accepts, they meet in private. Alternatively, the seller can make a counteroffer. Or decline the offer.
• Rumgr has excellent potential. It’s clean and intuitive to use, and sellers must be able to post items for sale with minimal hassle. In short, it could become the best thing ever to garage sale products. But like many promising services, it will take a critical mass of users to have any real value, and it’s always a chicken and egg situation.
• Luckily for Rumgr, it launched with just three employees, so its costs are relatively low. The startup also just pocketed $500,000 in seed funding from a group of Zappos executives, including CEO Tony Hsieh. And that should keep Rumgr humming and building its community for a while.
• Rumgr’s geolocation system allows potential buyers to see the area where an item is for sale, allowing them to decide if they can drive there to pick it up.

Conclusion

Currently, the company does not have a specific revenue plan as it focus on building this community. But over time, said co-founder Morgan, Rumgr plans to add a payment integration system that could allow buyers and sellers to finalize their financial transactions through the app and which could generate revenue. Besides, It’s unlikely the company will be able to topple Craigslist, but its app could be a lot of fun for people to use, and it might even help them find something cool they didn’t expect. Indispensable.

And while Rumgr is focused on facilitating the sale of physical goods and doesn’t seem interested in brokerage services, Morgan said there could easily be room in the app for more ephemeral goods, like food truck products.

Frequently Asked Questions

Where is the Rumgr head office?

Rumgr is in Las Vegas, Nevada, United States.

Who invested in Rumgr?

Rumgr has four investors, including Fred Mossler and Arun Rajan.

How many funds has raised to date?

Further, Rumgr raised $500,000.

When was Rumgr’s last funding round?

Rumgr closed its latest funding round on February 1, 2012, from a seed round.

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