Fxchng: Online Classifieds Startup Leveraging Social Media Credibility

People go online to consume content, be it an advertisement, picture or basic text. It’s always the content that attracts people. Without content no portal can exist. The main agenda of every advertisement is customer acquisition. Every now and then we need to post advertisements- be it for selling, for buying or for discovering. That’s when the online classified industry comes into play, where listing advertisements is absolutely free and effective if used with an attracting content.

About

Fxchng is a User to User platform like OLX and Quikr. But what makes Fxchng so different? Here, a user can connect to his social media account and he’ll be shown mutual friends with the buyer. An audience is always hesitant to buy something that has already been used by someone else and that too online. This factor creates a sense of trust and safety for the user.

Team at Fxchng

“Fxchng is a social classified platform which connects buyers and sellers through their mutual connection(s). Basically, people get to know what their friends/family are buying or selling and if they’re looking to buy or sell, they can get help from their peers,” said the Founder of Fxchng, Rauf Saiyed.

Founded in May 2015, the platform wants to establish itself as the eBay of India. While eBay also aggregates B2C, Rauf stated that the company will stay in the U2U section. The startup is based out of Vadodara (India).

This is Rauf’s third venture after Epsilogic Technologies and Cazbak India (A cashback shopping website). Previosuly he worked with Dialogic Research Inc (A part of Intel) as a SE for 2 years. He pursued his Masters in Computer Science from RIT (Rochester Institute of Technology), NY. The team of Fxchng consists of seven people at present.

The Verification Clause

So how does a seven member team verify every ad they get? Upon being enquired about this, Rauf told us that users are free to post any ads. The company then verifies them, and if the information is wrong/misleading, the ads are deleted from the portal.

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