Libertyville teen launches trading site; ‘I think this can be the next eBay’
Eighteen-year-old entrepreneur Adam Ahmad of Libertyville has recently launched his new online trading site called Swapidy, where people can trade goods over the Internet.
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NAME: Swapidy Inc.
SPECIALTY: Online trading business which allows individuals to swap goods online such as video games, books and gift cards
CEO AND FOUNDER: Adam Ahmad, an 18-year-old Libertvyille High School graduate
CONTACT: www.swapidy.com or on Facebook at www.facebook.com/Swapidy and Twitter at twitter.com/swapidy
Updated: August 13, 2012 6:54AM
Although he’s only 18 years old, Libertyville entrepreneur Adam Ahmad has big ambitions for his new online trading company, Swapidy.
“This is something I’m passionate about,” he said. “Being an entrepreneur, owning my own business and taking risks. I think this can be the next eBay, to be honest.”
The new online website, Swapidy.com, allows people to swap items, such as video games and consoles, books and gift cards.
Unlike many other online sites like eBay or Craigslist, Swapidy acts as an independent verifier between buyer and seller. The products are shipped to Swapidy’s processing center in Libertyville to provide independent verification of each product before items are shipped off to each respective trader. Swapidy charges traders a small transition fee, usually between $1 to $10 depending upon the product, for each trade.
Ahmad said Swapidy helps eliminate the fears many people have about trading items over the Internet.
“We actually verify the products,” he said. “We make sure they’re legitimate, as described and fully functional.”
Ahmad has had business in his blood from an early age. At the age of 11, he engineered customized video game software that he sold online that allowed users to play free video games on the PlayStation Portable.
Ahmad got the idea for his new business venture in December. After graduating from Libertyville High School, Ahmad launched Swapidy Inc., which officially went live in June.
Ahmad said the initial response to Swapidy has been positive thus far. He said as of last week there had already been about 60 or 70 products traded and the website already has about 350 registered users.
Ahmad said many of his former friends and former classmates at Libertyville High School are aware of his new business venture and Swapidy already has more than 3,200 followers on Twitter and nearly 2,400 on Facebook.
“Once trades start coming in, I believe this will grow exponentially,” he said. “eBay didn’t become a multi-million company overnight. It took several years.”
The Swapidy website initially launched three trading categories: video games and consoles, books and gift cards. It plans to add additional categories such as possibly cell phones, iPods and tablet personal computers, based on users’ interest.
In cases where one item being traded is of greater value than another, traders can purchase coins through the website to include as part of the trade. The recipient can then use the coins for future trades or redeem them for cash.
“Trading items has always been old-fashioned,” he said. “I want to introduce a different, revolutionary way of trading items online easily.”
Ahmad operates the business out of an office at the Hilltop Executive Center in Libertyville. Individuals that would like more information can visit www.swapidy.com.