The Webs First Online Bazaar Market Place

Opportunity Summary

My venture is a online startup called Oolag, which is a new and upcoming platform that allows you to swap, sell & buy.

For those who read the old pitch Oolag is no longer putting auctions as its forefront of the business, with a more defined business model oolag new direction allows for flexible growth & better revenue source's, since the first pitch I have been approached by a business incubation firm which takes on internet based idea's and builds the site from scratch as well as marketing and launching the site. instead we are looking into the swap market also known as "barter", Oolag and our partner Ortegra (incubation firm) has agreed that this is the direction we need to take in order to take a hold on the e-commerce market.
 
The swapping market has not seen much development or growth in recent years compared to auction type sites, classified Ads and online retails also commonly know as the collaborative consumption model. The original idea of oolag was to implement a full "true" online market place where one can auction,trade,sell & buy, but getting into the auction market would mean muscling into eBays territory and for a start up could mean being hung out to dry.
 
Swapping is a market area that still needs to be dominated and with oolag's original idea's of swapping we have the features and bright idea's to turn swapping into the new auction!
 
What oolag aims to do is to create the internets first online bazaar a true market type experience as if you were haggling in a market down brick lane london or Stanley market Hong Kong, oolag will be the only site on the net which solves the current problem that most swap sites have on the internet "liner pricing" where most goods have a certain price attached such as CD's, DVD's, Games, Music & books. You would not swap a ferrari for a DVD would you?
oolag solves that basic problem but not in the extreme sense of a ferrari and a DVD, oolag allows users to counter their swap with cash or additional goods.
 
For example:
You list your iPhone 4s on oolag as a swap, someone then offers you a motorola razor but obviously the two products are priced at two different price ranges. This is where oolag differs from anything thats currently on the web, oolag allows you to offer a supporting balance offer I.E The Motorola and £400 which is a far more appealing offer but great thing about oolag you don't have to go with this offer as other people will offer other things as well (in a certain time frame), this empowers the swapper (seller) giving more flexibility over the transaction unlike eBay if you sell something and is unhappy with the amount you got for it you still have to honour the deal.
 
The site makes money from listing fee of £1.50 (although originally there was no listing fee, a £1.50 fee will be added to filter out Spam but you can re list as much as you like within a time frame of 60days once paid) and any cash transactions incurs a 5% fee, there will be some adverts and affiliate links for external revenues.
The business model has changed not only because its a more appealing venture and its uniqueness but also the market potential, as people grow older people tend to have more things and this is a fact and its what people do with those things we are targeting.
 
The idea is still based as a online retailer as people can also just sell goods as an online store.

We are looking for a person or people, to invest a total amount of £50,000 for the first year of growth and operational capital untill we are cash flow positive (plus some minor R&D)

 If you are intrested please drop me a message.

Regards,

Newton Poole