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CardPool (YC W10) Wants To Buy And Sell Your Unused Gift Cards

techcrunch.com

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Re: CardPool (YC W10) Wants To Buy And Sell Your Unused Gift Cards

#31

Post by natep »

anson wrote: post #9
seanos wrote: post #3

"There have been a number of auction-like marketplaces, such as Plastic Jungle and Rackup, that have popped up to allow users can buy and sell their gift cards to each other..." "...CardPool is entering the space but with a slightly different twist to its model. Card Pool allows users to both buy and sell gift cards." What is the twist?

great question, the techcrunch article needs to be updated. but basically, we strive to have the simplest, most hassle-free solution, at the best prices. all our gift cards have no fees and never expire and we offer a 100-day return policy, something no one else can claim. and since we are a small and lean startup, we can afford to focus purely on the consumer while offering the best prices. all of these features are…

Article: "CardPool makes money off the spread between buying and selling cards."

Forgive me for my ignorance, but how does end up making you money? The way I see it, you can't sell more cards than you buy, and if you pay more to get the cards (90%) than you sell them for (70%) then aren't you facing a net loss overall?

Re: CardPool (YC W10) Wants To Buy And Sell Your Unused Gift Cards

#32

Post by JacobAldridge »

natep wrote: post #31
anson wrote: post #9

Earlier quoted context omitted.

great question, the techcrunch article needs to be updated. but basically, we strive to have the simplest, most hassle-free solution, at the best prices. all our gift cards have no fees and never expire and we offer a 100-day return policy, something no one else can claim. and since we are a small and lean startup, we can afford to focus purely on the consumer while offering the best prices. all of these features are…

Article: "CardPool makes money off the spread between buying and selling cards." Forgive me for my ignorance, but how does end up making you money? The way I see it, you can't sell more cards than you buy, and if you pay more to get the cards (90%) than you sell them for (70%) then aren't you facing a net loss overall?

Not sure where you're getting those numbers from. The article talks about paying 90% for a Best Buy card and selling it for 95%, while 1800 Flowers sell for about 70% (no CardPool purchase noted).

Re: CardPool (YC W10) Wants To Buy And Sell Your Unused Gift Cards

#33

Post by tlrobinson »

natep wrote: post #31
anson wrote: post #9

Earlier quoted context omitted.

great question, the techcrunch article needs to be updated. but basically, we strive to have the simplest, most hassle-free solution, at the best prices. all our gift cards have no fees and never expire and we offer a 100-day return policy, something no one else can claim. and since we are a small and lean startup, we can afford to focus purely on the consumer while offering the best prices. all of these features are…

Article: "CardPool makes money off the spread between buying and selling cards." Forgive me for my ignorance, but how does end up making you money? The way I see it, you can't sell more cards than you buy, and if you pay more to get the cards (90%) than you sell them for (70%) then aren't you facing a net loss overall?

I assume the "up to" applies to both the selling and buying. Not all cards will fetch 90% of the face value. Simple arbitrage.

Re: CardPool (YC W10) Wants To Buy And Sell Your Unused Gift Cards

#34

Post by natep »

JacobAldridge wrote: post #32
natep wrote: post #31

Earlier quoted context omitted.

Article: "CardPool makes money off the spread between buying and selling cards." Forgive me for my ignorance, but how does end up making you money? The way I see it, you can't sell more cards than you buy, and if you pay more to get the cards (90%) than you sell them for (70%) then aren't you facing a net loss overall?

Not sure where you're getting those numbers from. The article talks about paying 90% for a Best Buy card and selling it for 95%, while 1800 Flowers sell for about 70% (no CardPool purchase noted).

Ah, I guess I skimmed over the middle of the paragraph, and just saw the 1-800 Flowers at 30% off. So, I guess they're hoping to sell a whole lot more cards at 1-9% off than 10-30% off. I knew I was missing something obvious.

Re: CardPool (YC W10) Wants To Buy And Sell Your Unused Gift Cards

#35

Post by natep »

tlrobinson wrote: post #33
natep wrote: post #31

Earlier quoted context omitted.

Article: "CardPool makes money off the spread between buying and selling cards." Forgive me for my ignorance, but how does end up making you money? The way I see it, you can't sell more cards than you buy, and if you pay more to get the cards (90%) than you sell them for (70%) then aren't you facing a net loss overall?

I assume the "up to" applies to both the selling and buying. Not all cards will fetch 90% of the face value. Simple arbitrage.

Ah, yes, the web site makes that more clear.

Re: CardPool (YC W10) Wants To Buy And Sell Your Unused Gift Cards

#38

Post by browser411 »

tlrobinson wrote: post #36

I'm curious about the decision to put a phone number on the site. Do you answer it personally? Is it worth it?

It may be out of necessity. Many merchant gateways that sites use to process credit cards require phone numbers to be published.
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