SANTA MONICA, Calif., Feb. 18, 2014 /PRNewswire/ — Passubuy announced today the release of its Facebook app, an integrated social shopping platform that pays users to sell items of others within their personal networks. Unique to Passubuy, products are free to list, and friends of the seller get paid if they share it and it sells.
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According to McKinsey&Company1, "a high-impact recommendation—from a trusted friend conveying a relevant message, for example—is up to 50 times more likely to trigger a purchase than is a low-impact recommendation."1
Passubuy is designed to leverage the strength of word of mouth recommendations with the viral reach of social networks. The Pew Research Center2 estimated that for each single Facebook user, two degrees of separation (friends-of-friends) on average could reach over 156,000 other Facebook users.
"Everyone has something to sell: a garage full of treasures, or they either know a friend with something to sell or have a favorite store looking for new sales and customers," says Mark Blanchard co-founder of Passubuy. "Users of our app know that they are buying, selling, or sharing something with someone they know or someone their friends know, thus ensuring marketplace safety."
The Passubuy app provides a simple, end-to-end platform for buying or selling unwanted treasures. It handles all details of the financial transaction for both the seller and the friends who are rewarded for helping with the sale. There are no hidden fees, no credit card fees, no fees to withdraw money as cash, and no PayPal fees charged to the seller or the buyer – ever.
"The key differentiator that will drive people to view, access, and use our social marketplace is our unique approach that if your friends are not interested in your product, Passubuy pays them to pass it on for sale to their friends," says Michael Block, co-founder of Passubuy.
Using the "Pass It On" feature, users can earn up to 2% of the item price in cash if a friend, or even someone in a friend's network, buys the item for sale. By hovering over the "Pass It On" button listed with an item, the incentive amount will appear. Passubuy allows individuals to make money without buying or selling anything.
A simple push of a button is all that is necessary to buy from, or share with all your trusted Facebook friends. Passubuy is available for sign-up at www.passubuy.com.
About Passubuy
Passubuy is the fun, trusted way to buy and sell between friend networks. The California startup was created in 2013, when co-founder Michael Block began to look for ways to sell his daughter's softball bat to friends or friends-of-friends. Today, Passubuy aims to revolutionize the Internet marketplace by providing an easy, safe alternative to traditional online exchanges. For more information, please visit www.passubuy.com.
About the Founders
Passubuy is a newly founded venture by entrepreneurs who are driven by a passion for making the world smaller and more community driven through social commerce.
Founding team:
Mark Blanchard: Chief Executive Officer. He brings to the partnership a career in business management and marketing.
Michael Block: Chief Marketing Officer. Understanding the nuances of software development, Michael will initially guide development team as the voice of the end user.
Aaron Downey: Chief Technology Officer. Bringing over 20 years of application development expertise to the team, Aaron has gained the reputation as a visionary and go to person for all things Internet related.
1. McKINSEY&COMPANY, A new way to measure word-of-mouth advertising. Jacques Bughin, Jonathan Doogan, and Ole Jørgen Vetvik, article April 2010
2. PEW INTERNET & AMERICAN LIFE PROJECT, Facebook: A Profile of its 'Friends', Goo Sara Kehaulani, web May 16, 2012
Media Contact:
Natalie Grinnell
Email
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