Petros Georgopoulos is a successful entrepreneur and launched Swapdom (www.Swapdom.com) last fall. Before the term ‘sharing economy’ even existed, Petros was creating companies that helped people use resources efficiently. With Swapdom, he aims to efficiently match up people looking to trade goods. Using an algorithm he designed with his brother and co-founder George, Swapdom creates big, multi-party circle swaps to help users get goods they need without having to deal with the hassle or negotiation typically associated with barter.
It’s a one-of-a-kind swapping platform that has limitless potential.
Swapdom makes peer-to-peer exchange of goods online easier than ever before.
Swapdom, an online swapping community, launched in private beta in October last year and opened to the public in November, 2013. The concept is simple—we all remember swapping stickers or school lunches when we were a kid, and Swapdom is the amped-up version of this age-old pastime. What makes Swapdom distinctly different is the fact that you swap in groups and don’t need to negotiate for your swap. Users simply request items they love, tell Swapdom what they’d offer in exchange, and then sit back and let Swapdom organize a multi-person swap for them.
Unlike a retailer, Swapdom’s inventory of swappable items will be defined by their community, who will upload gently used and like-new items ready for a new home. They’re launching first in fashion, including accessories and shoes. In the future, they plan to expand their breadth of offerings to home goods and infant and kids’ clothing and toys. Swapdom is also polling their community to get feedback about how they should expand.
Swapdom co-founder and CEO, Petros Georgopoulos, loved swapping as a kid, but as an adult it was easier to simply go out and buy something.
“If my brother, George, had a bike I wanted, for instance, I might not have something George would want in exchange,” says Petros. “The only way to make swapping efficient and successful was to develop an algorithm that would make it possible to swap in a group.”
So, Petros developed an algorithm, which has become the foundation for Swapdom, partnering with brother and co-founder George Georgopoulos, who serves as the CTO. The brothers have a 20-year history of developing technology solutions for industries as varied as winemaking and stock-market analytics. Forever fascinated with the sharing economy, Petros and George have set out to redefine swapping in the hopes of making it efficient enough to become a viable means of commerce.
What Makes Swapdom Different?
Easy and Efficient
Their special algorithm organizes multi-party swaps for you (e.g. A gives to B, B gives to C, and so on, until X gives to A), so you get what you want without having to negotiate.
Fairest Swaps of Them All
Their multi-way swapping system guarantees everyone gets a fair exchange without having to worry about valuations.
Their dedicated mail carrier provides transparency and makes shipping easy.
All swappers pay for shipping before swaps are finalized. Their top-notch swapper rating system adds a second layer of accountability.
More Winning, Less Waste
You get something you value in exchange for items you love but would like to pass on to someone new.
Expand Your Options
You can add alternate items when making requests and offers to maximize your swap’s success.
The founders have recognized future opportunities to apply their proprietary algorithm as well. “We see a great void when it comes to efficient exchanges, and think there are other industries that could benefit from this algorithm, for example MMORPG games,” says Petros.
In August 2013, Swapdom received 1.5 million euros in Series A funding from Odyssey Venture Partners, an investment firm that focuses on reinvigorating the Greek economy. Swapdom is based in the founders’ hometown of Thessaloniki, Greece, and has recently begun hiring a team in San Francisco, California.
About Swapdom: Founded in August 2013 and based in Thessaloniki, Greece, and San Francisco, California, Swapdom is an innovative online exchange system for the sharing economy driven by the power of the crowd. Designed to make swapping unbelievably easy and efficient, Swapdom is a new way to find one-of-a-kind previously owned items. Users simply request items they love, tell Swapdom what they’d offer in exchange, and then sit back and let Swapdom organize a multi-person swap for them. Visit www.Swapdom.com for more info.