With Spain's property sector booming again, can Wallapop cash in?

Spain

4 min read

Oct 15, 2018

By Gareth Gardiner Jones

Five years on, the online classified advertising platform and darling of Spain's startup scene, Wallapop, is hoping an ambitious move into the real estate market will help it finally turn a profit

Billed as a "local flea market for anybody," Wallapop's success has been driven by geolocalization and chat tools built into the platform which ensure users are shown ads that are locally relevant and additional information is easy to obtain. With an offer of 1 million residential and commercial properties for sale or rent, Wallapop is hoping its launch into Spain's property market will help it unlock the financial potential of the platform.
Despite attracting some US$150 million in funding and with 6 million daily users and 40 million registered users, the company has struggled to mo...

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Edited by Sophie Douez

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