Mike Isaac

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Web Marketplace Listia Raises $9 Million

listiaLogoListia, an online marketplace for trading unwanted goods and ephemera, announced on Wednesday that it had raised $9 million in its series A round of venture funding.

The round was led by General Catalyst partners, and brings the amount raised to approximately $11 million, after a $1.75 million seed round of funding raised in 2009 that was led by Andreessen Horowitz with participation from SV Angel, Max Levchin and Naval Ravikant, among others.

The company is something of an online home for trade and bartering, similar to Craigslist’s postings. Listia, however, allows users to trade their items for credits that can be spent on the service to purchase goods from other users, as well as items from the company’s own rewards store. Earlier this year, Listia partnered with Best Buy to expand the amount of goods available in its store.

The startup will use the new funds to further build out its mobile app user base, and as a result of the round, General Catalyst partner Neil Sequeira will join Listia’s board of directors.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work