Amid one of the biggest economic downturns in world history a startup has spent £35,000 on a web app which was built with no monetisation strategy and no revenues. Guess what? It’s now for sale.
Developing the site by himself, founder Stas Murzynowski created Letsallshare.com to allow anyone to rent or “share” anything or anywhere. RentMineOnline in the US and Zilok on Europe have had some success putting such “rent anything” sites together, but they at least wrapped their sites in business models.
Letsallshare members build new communities (sharing groups) post stuff, request items and invite others. Unfortunately, has Murzynowski “no idea” how much traffic the site gets, how many people use it or many successful “shares” it has facilitated, since the site’s admin tool is too basic. However since its launch in April 2008, it has had some press from environmental sites and magazines.
Murzynowski told me: “You need to remember that having had the idea I simply went about getting it built. I am not in any way versed in IT or reporting skills. What I had was an idea and the capital to self fund the build (circa £35k). I had hoped that I would have time to learn the various reporting elements but quite simply I ran out of time and my priorities moved elsewhere.”
So what now? Well, Murzynowski is now looking for someone to either take over the running of the site in return for equity or indeed to sell the site lock-stock-and-barrel. He says he no longer has time to run the site, or the cash to pump into it.
My personal view is that there might be something of value here. Freecycle has garnered thousands users globally interested in a) getting things free and b) preventing old items end up in landfill, for environmental reasons. But whether that model is monetisable is anyone’s guess.
“I am not in any way versed in IT or reporting skills.”
Aye, there’s the rub. Do you remember the bad old days when some City refugee would try and get a CTO to work for nothing “because you’ll be a founder member and there’ll be some stock” using the same tactic? At least we got a lunch out of it.
Sigh.
This article made me laugh when I read it. It’s painfully close to what I know I say about LetsAllShare.
However, I feel that there has been a presumption made.
I set up the site with three aims:
1) To provide a site that could be of service and value to people (especially in my local communities).
2) To encourage people to share more and consume less.
3) To see if I could build an attractive and useful website.
Not everything that is built or has value, has to generate revenue….
But hey if someone can think of a way of combining LetsAllShare with a revenue stream and would be prepared to take that idea forward I’d be fully supportive.
Murzynowski, the founder of this website comes across as the biggest retard I have ever read about. Went about building a site with little to no involvement in its production, can’t even tell how many visitors are using the site? Jesus Christ on a bike. I guess the last laugh is all on us as we know he’s has thrown 35k down the toilet. But seriously, the site looks like it was dev’d in Ruby, any proficient Ruby coder could whip up the basic mechanics of this site in 2 days. As I said, the founder is RETARDED.
I think that we are at a point in time where people are actively reducing the clutter they have at home and because of the present financial situation I can see people reducing their level of spending on items which are used infrequently or are considered a luxury, in the words of Morten Lund “I wonder how many people are feeling a BIG relief from having no monay – and stopped buying stuff for good mood”.
I can see some opportunity to address the bartering of goods and services and for small groups of people to fund a purchase of a major item together (fractional ownership style).
A membership and escrow model would work for this. My only negative is that the model only works as a local market.
Looking around me I can see computer equipment, books and some furniture that I would gladly get rid of, but I cannot be bothered to set up an ebay account (or similar). Maybe this portal can create a community where registered members could do all the work for me and share a commission on the sales or I could swap/barter item for item.
Another area which could be lucrative for this site is to introduce surplus/liquidated/obsolete stock. If the community gets large enough it becomes viable.
Note that the LAS site has page rank 4, the same as Zilok, not a bad position.
Whoever wants to take this portal on, if they can think about what is the problem they are solving (and for whom) they have the basis to steer this site and make it a business – the timing might be right.
BTW, I have no links to the people who own this site, just thought I would create some discussion.
PS – God awful site design on LAS, that needs changing :0)
James,
Strong words. No need to flame this post. Let us hope that Stas learns from his business mistake and creates something that will be bigger and better in the future.
You are right though that using RoR is an inexpensive/quick route to setting up (even a community can be launched quickly with lovdbyless in RoR).
I get the impression though that you must be some leading figure in this area to be calling somebody a retard. No need for this, life is too short.
Stas, before the next venture, get out and network, discuss with others who have the technical expertise, get opinions from people linked to the business field. Research your market (to death) and do not run before you can walk.
I share Mike’s view that there is something of value with your portal and I hope you find somebody that can help, you are not in the deadpool yet……….
I don’t think abusing people who are honest and open about what they have done (or not done) is any use.
So James what have you done?