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This Startup Is Offering Everyday Kiwis 14,000 Shares In Their Company

AllGoods, the new Kiwi online marketplace that soft-launched earlier this year, is offering New Zealanders a chance to win shares in their company. It’s an interesting tactic to get New Zealand talking about them by offering ‘shares’ for ‘sharing’. The thousands of dollars worth of stock will be given to everyday Kiwis who refer other people to the site.

The company, which promises to “revolutionise the way that Kiwis buy and sell”, has already gained a considerable amount of traction in the past 6 months since their soft launch, with over 500 New Zealand businesses signing up to use their platform.

The site has also been a hit with everyday users, who can list items for sale for free. The site currently has over 100,000 items listed – all of which are physically located in New Zealand.

The team believes that stock options will be a compelling reason for many Kiwis to help spread the word about the new free e-commerce platform.

The Share for Shares Prize.

The company is giving away 1,000 shares to the 5 people who get the most referrals. The top referrer will get 10,000 shares, which AllGoods says is the same amount it has given some of its earliest high-level employees.

10,000 shares is currently valued at $9,000, but could drastically increase in value if the site captures a significant portion of the market. By comparison, the equivalent percentage of shares in Trade Me is currently valued at around 2 million dollars.

Those who don’t make the top 5 can still redeem the points they’ve earned for prizes and products from the site.

CEO Levi Fawcett says, “No one in New Zealand has ever run a referral program like the one we’re doing. We are hoping that Kiwis will realise the potential here and be keen to jump on-board”.

The referral program is based on the extremely successful launch of Jet.com. The winner of Jet’s program received an equivalent percentage of company shares to what AllGoods are offering. When Wal-Mart acquired Jet.com less than two years after the competition, the winner’s shares were reported to be worth upward of $20 million USD.

The site, which allows everyday Kiwis to list items for free, is a service that Fawcett says is “well overdue for Kiwis”. Similar startups overseas have been extremely successful by offering people a dedicated, intuitive and free platform to buy and sell.

The launch of the referral program comes only a short amount of time prior to the release of their mobile app, which is due in October this year.

“The AllGoods mobile app has taken inspiration from similar startups overseas, such as Letgo in the US and Carousell in Singapore, which are both very popular in their respective countries. We’ve done something similar, but tailored it to the New Zealand market”, says Fawcett.

“Everything we’re doing is centered around delivering the free and modern e-commerce platform that Kiwis deserve – it’s been a long time coming.”

The ‘share for shares’ referral competition will end on January 27th, 2019. More information can be found here: https://allgoods.co.nz/landing-page/referrals/

 

Australian based venture capital firm Airtree invests 2.5 million in an Internet Startup.
This Startup Is Offering Everyday Kiwis 14,000 Shares In Their Company
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Australian based venture capital firm Airtree invests 2.5 million in an Internet Startup.