letgo was a US-focused peer-to-peer mobile classifieds app launched in January 2015 by Alec Oxenford (co-founder of OLX), Jordi Castello, and Enrique Linares. Headquartered in New York City with engineering and operations in Barcelona and Istanbul, letgo allowed users to buy and sell secondhand goods locally, differentiating itself with image-recognition AI that auto-classified listings from a single photo. Backed primarily by Naspers/OLX Group, the company merged with Spanish rival Wallapop's US operations in 2016 and at its 2018 peak reached more than 100 million app downloads and a roughly $1.5B+ valuation, competing head-to-head with OfferUp and Craigslist. In March 2020, OfferUp announced it would acquire letgo in a deal that included a $120M financing round led by OLX Group; the combination closed and the letgo app was wound down on September 21, 2020, with OLX Group holding 40% of the combined OfferUp entity.
letgo has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2015
Total Funding
$975M
5 rounds
Latest Valuation
$1.5B
August 8, 2018
Total raised $975M across 5 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-25-2026
Latest Round
Type
Series D
Date
August 8, 2018
Amount
$500M
Valuation
$1.5B
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| August 8, 2018 | Series D | $500M | $1.5B | Naspers |
| September 28, 2017 | Series C Extension | $100M | $1B | Naspers |
| January 17, 2017 | Series C | $175M | — | Naspers |
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Valuation indexed to 1.0× at the selected entry round. Valuation marks are estimates and may contain errors. Hover each dot to compare.
Entry · Series C Extension
$1B
Sep 2017
letgo today
$1.5B
Aug 2018 · latest mark
letgo multiple
1.5x
valuation uplift since first round
Y-axis is logarithmic. Hollow dots = estimated valuations. Does not represent realized investor returns.
Alec Oxenford
Co-Founder & CEO
Jordi Castello
Co-Founder
Enrique Linares
Co-Founder
Competitor list is illustrative and may be incomplete, stale, or erroneous.
OfferUp
US-based peer-to-peer local marketplace app and letgo's chief competitor; acquired letgo in 2020 to form a combined entity with 20M+ monthly users.
Craigslist
Long-standing US online classifieds incumbent; letgo positioned itself as a mobile-first, image-driven alternative.
eBay
Global online auction and resale marketplace; competed with letgo in secondhand consumer goods, particularly in the US.
Facebook Marketplace
Local buy-and-sell marketplace embedded in Facebook; emerged as a major competitor to letgo in peer-to-peer classifieds.
Wallapop
Spanish mobile classifieds app; merged its US operations into letgo in 2016 and continues to operate in Europe.
Mercari
Japanese-origin peer-to-peer reselling app with significant US presence; competes in mobile-first secondhand commerce.
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