letgo Raises $175M in Funding
Summary
letgo, a New York City and Barcelona-based mobile marketplace to buy and sell locally, raised $175M in funding.The company intends to use the funds to accelerate U.S. and international growth, and to invest in areas such as artificial intelligence and image recognition.Thanks to the mobile app’s proprietary, advanced technology, letgo users can post an item for sale in only a few seconds by simply taking a photo, without typing a word or entering a price.The Android and iOS app offers artificial intelligence and image recognition capabilities that automatically title and categorize a seller’s item.The company has also announced it has reached 20M monthly active users of its marketplace and 45M downloads of its free app since launching in 2015.