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Clueless Idiots Running HipStamp

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Posted 10/19/2021   5:52 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
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/
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Posted 10/19/2021   6:01 pm  Show Profile Bookmark this reply Add shermae to your friends list  Get a Link to this Reply
I didn't realize they had those kinds of big tranches. Very interesting info, thanks Rog.
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Edited by shermae - 10/19/2021 6:02 pm
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Posted 10/19/2021   6:21 pm  Show Profile Check revenuecollector's eBay Listings Bookmark this reply Add revenuecollector to your friends list  Get a Link to this Reply

Quote:
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.


Unless the bulk of that funding has gone into one or two people's pockets rather than into the business itself. Just sayin'...
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Posted 10/19/2021   7:31 pm  Show Profile Check eyeonwall's eBay Listings Bookmark this reply Add eyeonwall to your friends list  Get a Link to this Reply
The guy Hip sent to shows was tight with Langs. 'nough said.
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Posted 10/19/2021   7:55 pm  Show Profile Check KRelyea's eBay Listings Bookmark this reply Add KRelyea to your friends list  Get a Link to this Reply
Just to put things in perspective re Hipstamps 18M GMV;


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Posted 10/19/2021   8:13 pm  Show Profile Bookmark this reply Add tsmatx to your friends list  Get a Link to this Reply
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.
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Posted 10/19/2021   11:06 pm  Show Profile Bookmark this reply Add jamesg to your friends list  Get a Link to this Reply
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?
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Posted 10/19/2021   11:40 pm  Show Profile Bookmark this reply Add mootermutt987 to your friends list  Get a Link to this Reply

Quote:
In 2020-21, probably vast majority of stamp sales are online and not brick & mortar.

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.
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Edited by mootermutt987 - 10/19/2021 11:42 pm
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Posted 10/20/2021   12:06 am  Show Profile Bookmark this reply Add jamesg to your friends list  Get a Link to this Reply
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!
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Posted 10/20/2021   12:14 am  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
Siegel 2018 sales were 38 million.
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Posted 10/20/2021   08:47 am  Show Profile Bookmark this reply Add jconey to your friends list  Get a Link to this Reply
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.
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Posted 10/20/2021   11:19 am  Show Profile Bookmark this reply Add Oracle of Delphi to your friends list  Get a Link to this Reply
Just a quick question - on Hipstamp, are monthly seller fees paid in advance or arrears? Thanks.
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Edited by Oracle of Delphi - 10/20/2021 12:06 pm
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Posted 10/20/2021   2:27 pm  Show Profile Bookmark this reply Add jogil to your friends list  Get a Link to this Reply
Out of the total sales, how much do they take for themselves in commissions and/or fees?
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Edited by jogil - 10/20/2021 2:30 pm
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Posted 10/20/2021   4:03 pm  Show Profile Bookmark this reply Add jconey to your friends list  Get a Link to this Reply
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.
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Posted 10/20/2021   5:32 pm  Show Profile Bookmark this reply Add GMC89 to your friends list  Get a Link to this Reply
Investors?
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