Clueless Idiots Running Hipstamp

Last October Hip closed a 5 million dollar round of funding. If the article below is to be believed it has over $18 Million in annualized GMV. They may not be General Motors but it is not chump change. The issues discussed in this topic are inexcusable given the amount of funding in place and sales volume. No?

https://www.businesswire.com/news/h...29005138/en/

I didn't realize they had those kinds of big tranches. Very interesting info, thanks Rog.

Unless the bulk of that funding has gone into one or two people's pockets rather than into the business itself. Just sayin'...

The guy Hip sent to shows was tight with Langs. 'nough said.

Just to put things in perspective re Hipstamps 18M GMV;

Interesting numbers of GMV of Hip vs Siegel. Also that $18MM includes comics and postcards, so only some fraction is stamps (maybe 50%?). Do we know what GMV of eBay stamp sales are? And SAN? Not sure if those numbers are published, but the raw data should be available for anybody to add up. It would also be interesting to know size of total stamp market these days. In 2020-21, probably vast majority of stamp sales are online and not brick & mortar.

Does anyone know what Siegal's numbers were for previous 3-5 years? Or eBay, Hip, Delcampe stamp sales totals for that and previous years?

And probably 2022, 2023, 2024, 2025, etc.

Online has given access to and from almost everyone. Actual brick and mortar shops have been closing down for the last few decades. I moved to the Seattle area (no stamp mecca, but a semi-major metro area) about 30 years ago. Every single stamp shop that I patronized when I got out here is now gone. I am sure there are a few, but none that I am aware of. It is just too easy to shop from one's living room, search with a search engine, and save money. I cannot argue that it really sucks for those that have devoted their lives to local collectors.

I'm in kitsap county (West of Seattle across the sound) and there's only 1 shop I know of in the area - and I've never been inside of it!

Siegel 2018 sales were 38 million.

If you look on the first page of this thread you see the HIPCommerce company personnel makeup (46), and that it's very top heavy. More chiefs and corporate than production and support workers (10). So you can guess where the money is flowing. It would be interesting to see what the new 5MM funding is slated for.

Just a quick question - on Hipstamp, are monthly seller fees paid in advance or arrears? Thanks.

Out of the total sales, how much do they take for themselves in commissions and/or fees?

It could probably be estimated from their rates: 3 cents/auction + 8.95% transaction fee + membership/store rates. But I'm not sure how easy the member/store (levels) rates would be to est. Their costs are another thing hard to estimate with a degree of accuracy but I'm sure if you put your mind to it, you could come close enough. Also, have to figure out HIP owned lots presented... if/how many? Much of this was probably in a presentation deck and supporting handouts for the investors during the most recent round of funding. Good luck getting your hands on that.

Investors?