‘You can’t bootstrap a marketplace any more’: Spacer co-founder says $1m raising will only last 12 months

"Consumer expectations of online marketplaces have risen so much that the cost of inventory acquisition, verification, insurance and payment gateways means they are no longer businesses which can be bootstrapped, says the co-founder of the Spacer storage marketplace, Michael Rosenbaum. “He who has the inventory wins but it doesn’t come free, I know that from DealsDirect,” says Rosenbaum, referencing the etailer he co-founded with Paul Greenberg which weathered a disastrous foray into group buying before being taken over by Grays Online last November." Read more

Michael Bailey BRW 13 Oct 2015

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