EBay Rival Letgo Raises $175 Million to Grow Secondhand Market
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Letgo, an online marketplace for buying and selling used goods, said it raised $175 million to invest in growth plans and grab market share from EBay Inc. and Craigslist.
Existing investor Naspers Ltd., Africa’s biggest company by market value, led the company’s Series C round, which also included previous venture capital backers Accel Partners, Insight Venture Partners, New Enterprise Associates and 14W. The startup has raised $375 million in total so far.