VarageSale, Inc., the developer of free community-focused buy/sell app, has appointed Janet Bannister, Partner of Real Ventures and former Kijiji founder, to its board. Bannister will work closely with the Toronto based VarageSale to help scale across North America and aid in its evolution of a long-term monetization strategy.
VarageSale is funded and backed by Sequoia Capital, Lightspeed Venture Partners and Real Ventures.
Bannister joins Bryan Schreier, Partner at Sequoia Capital, and Jeremy Liew, Partner at Lightspeed Venture Partners, on VarageSale board that also includes wife-and-husband co-founders Tami Zuckerman and Carl Mercier.
“VarageSale is a truly compelling business, serving the very core of what today’s consumers are looking for when it comes to online shopping,” said Bannister. “Trends show us that more and more Canadians are going second-hand, every day – with most gravitating towards marketplaces based on safety and a sense of community. These are the foundations VarageSale is built on.”
With a social-led product geared around consumer preferences for safety, VarageSale has experienced an unprecedented surge in users, over 80 per cent of which are female.
VarageSale’s year-over-year organic growth is underlined by high demand for a mobile-first, socially-driven buy/sell marketplace among Canadians. The company now plans to extend its investment efforts, product development and marketing initiatives.
“VarageSale is now the leading buy/sell app in Canada for women. Ninety per cent of VarageSale users are mobile-first, and 45 per cent of app users come back five to six times a day – many for multiple years,” said Andrew Sider, CEO of VarageSale. “Our unique business strategy enables us to break into new markets by targeting underserved consumers, thereby establishing us as the most relevant platform for local communities. We’ve now achieved this in multiple cities across Canada.”
“VarageSale’s position in the online classified space is unique,” continued Bannister. “The company’s unrivalled organic growth makes it a pivotal and exciting time to be joining the board. The plan is to help continue VarageSale’s extended growth trajectory and ever-advancing market position, cementing its place as Canada’s leading, safety-first online marketplace.”
photo credit: VarageSale
Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.
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