Swapdom Swapping App
There have been a lot of attempts at the perfect swapping app. A ton of startups have come and gone in the space. However, there is a new player. Swapdom thinks that they have figured out the solution. We had a chance to ask the team a few questions about the platform, and why it will work:
What is Swapdom?
We’re a sharing economy platform that’s transforming traditional swapping. Using a special algorithm, we match up swapper requests and offers in closed-loop, group swaps. This means swappers get what they want without the hassle of negotiation necessitated by traditional swapping.
Who is Swapdom aimed at?
Currently, we’re launched in home, baby gear, and fashion, and we plan to expand drastically soon. Thus, our target users are tech-savvy people interested in the sharing economy and efficient use of resources. Since we help people trade items instead of throw them away, we also target environmentally conscious folks.
Why did you build Swapdom?
The world’s resources are currently used in an inefficient manner. This creates a lot of waste and makes it hard for some people to access the things they need and want. In creating an even distribution of goods and resources, we help both consumers hit by the recession and the Earth.
How is Swapdom different from what is currently available?
Current swapping sites run on complicated points or money based systems. Swapdom makes your goods into your currency, no points or money necessary.
Additionally, since Swapdom’s algorithm creates multi-party, circular swaps, the biggest roadblock to traditional swapping—a coincidence of wants—is erased; Sam might want something Jean has, but Jean no longer needs to want something Sam has in order to make a trade happen.
Tell us your founding story. Was there an “ah ha” moment?
When the economic recession hit, our CEO Petros Georgopoulos realized people would be strapped for cash and need a new, non-monetary way of acquiring goods. He’d spent his entire career engineering optimization solutions, and realized he could help by making swapping a viable means of acquiring goods. So, he went to his brother George and asked if he could work on an algorithm for multi-party swaps. George set to work on the problem, and when he solved it, Swapdom was born.
Tell us about your founding team and their backgrounds.
Swapdom founders and brother Petros and George Georgopoulos (CEO and CTO, respectively), have a long history of starting companies together. Their work almost always focuses on optimizing engineering solutions. At the time they thought of Swapdom, the duo was focused on bringing efficiency to trucking, helping to make use of the extra space in empty trucks returning from or traveling to their destination.
Petros is a naval architect by degree and an engineer at heart. When not dreaming up new business ideas and algorithms, he’s often found in his sailplane, teaching others how to glide or simply enjoying the view.
George studied systems engineering at Harvard University and has a knack for turning Petros’ algorithm ideas into practical products. When not at the office, George is often seen whittling away the hours making miniature ships—a hobby he’s had since the young age of 9.
The duo is based in Thessaloniki, Greece, but Petros is currently spending a bulk of his time in the Bay Area.
What’s the next step? What are your short-term goals?
We plan to branch out into many more markets—both goods and services—within a few months and, in particular, will be focused on bringing our algorithm the virtual gaming market.