Interview With Chicago Startup: Swapidy

Swapidy,Chicago startup,startup,Chicago TechWeek,Techweek2012,interview,founder interview,18 year old founder,Adam AhmadSwapidy is a brand new Chicago startup that just had it’s public launch Monday as part of Startup City at Chicago’s TechWeek 2012.

Swapidy is a pretty cool idea. The startup serves as the go-between for two people looking to swap, or straight up trade items of value or trade up if you want to and can find someone willing.  For instance if you had an iPhone and you wanted to trade for the new Nexus 7 tablet by Google, you would be able to list your iPhone in an ebay style listing for trade.

Within the platform you would be able to describe the item, the condition and then say what items  you would be willing to trade for. Once someone finds your iPhone and has the item you want to trade for, you set up the trade through Swapidy.

From there the two people trading items would send both items into Swapidy’s headquarters in Chicago. Their the Swapidy team would make sure that the listings matched, the both items worked and in the case of phones, that ESN’s were truly clean and the item was ready to go.

Once Swapidy approves the items for trade they are then sent to their final destinations.

That’s all well and good so far. It’s like an escrow system for trading valuable products. Swapidy brings a new layer of safety and protection to those wanting to trade something with someone not in their immediate area.

At launch though, Swapidy is having both traders pay for shipping along with a fee that gets paid to Swapidy. Swapidy uses that fee to facilitate the trade and then the final destination shipping. Swapidy founder Adam Ahmad suggested in the video below that the entire trade may cost both parties $25.

Now when you’re looking at acquiring an iPhone or a tablet, $25 doesn’t seem like that much money, but in the end it may be frowned upon since none of the money is changing hands from trader to trader.

On the other hand $25 may be worth the piece of mind that you’ll get from completing a trade on Swapidy and knowing that the item you are trading is exactly as it appears. When trading direct with shipping involved there are all kinds of factors that could leave one of the traders either empty handed or with a far inferior product.

We will definitely have to check in with Swapidy in a few months to see how the community of traders is growing and how many trades they’ve successfully enabled.

Check out the video below:

Linkage:

Try Swapidy now at swapidy.com

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