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Edgeio is a company co-founded byMike Arrington, who writes the influential Web 2.0 blog, TechCrunch, and Keith Teare who is also CEO of the company. Edgeio has received a whopping $1.5 million in angel funding from the likes of Ron Conway, RSS Investors, Transcosmos, Louis Monier (AltaVista founder, formerly of eBay and now at Google), and Jeff Clavier.
I recently got a demo of their service, which in simple terms aggregates classifieds published by sellers on their own blogs. Edgeio leverages tags quite a bit, and as a blog publisher you need to simply add a category called listing and you post shows up on Edgeio. So from a publisher standpoint, it is pretty simple and easy to use. You can go into the Edgeio system, and add more details to your listing.
From a buyer’s perspective, find the listings and email the person concerned through the Edgeio system. You can search by geographic locations (very cool slider!!!) and by using tags. One of the best features, which I like about the service is that it can give you a small piece of code that you can then re-embed in your site’s sidebar to give people and easy view of what you are selling. I wish this could be turned into a plugin for more popular blog systems. So what about the business model?
For one, Edgeio plans to charge Powersellers 25 cents a day to buy top positions on the page for their local listings. Later, Edgeio plans to run contextual ads, possibly Google’s AdSense, to let local sellers run ads on the right column. And third, as prospective buyers subscribe to Edgeio RSS feeds for products they’re interested in, those lists of prospects could be sold as qualified leads to sellers. [Business Week ]
However, the big problem facing Edgeio is the presence of nefarious characters who are overwhelming the blogosphere with spam. Craig Newmark of Craigslist, thinks it is a cool idea but he is also concerned about spammers. “Considering that spam blogs are already a huge problem, and how easy it’ll be to falsely tag viagra ads, the volume of bad ads will be tremendous,” he wrote in response to a post by Jeff Jarvis. My suggestion to the boys was that they should try and team-up with Matt and use Akismet to suss out the nefarious blogs.