'Danggeun Market' vs. 'Craigslist'

While chatting with my friend Mr. Kim—who proudly claims the title of "living legend 🤭 in online secondhand trading" ever since he started dabbling in it back in 2001—I discovered something fascinating. Apparently, the U.S. has its own version of Korea's Danggeun Market, and it's called Craigslist. Naturally, my curiosity got the better of me, and I decided to dig into both platforms. Spoiler alert: the comparison turned out to be quite an interesting ride!

---

South Korea's 'Danggeun Market' vs. the USA's 'Craigslist'

The two giants of online secondhand trading

These days, buying and selling secondhand items is just a few clicks away, thanks to online platforms. But which platform suits you better: one that focuses on local transactions, or one with global reach? Today, let's take a closer look at South Korea's popular app Danggeun Market and the U.S.-based giant Craigslist, comparing their features, strengths, and future prospects.

• secondhand trading - 중고 거래
• dabble in - ~에 손을 대다, ~을 취미로 하다
• apparently - 보아하니, 듣자하니
• get the better of - (감정이) ~을 이기다, ~을 압도하다
• dig into - 파헤치다, 깊이 조사하다
• comparison - 비교
• local transactions - 지역 거래
• global reach - 글로벌 도달 범위
• features - 특징들
• prospects - 전망, 가능성

1. Membership Numbers and Economic Impact

Danggeun Market

Image Source : 위키백과

 
Danggeun Market, founded in 2015, boasts around 21 million users and generated ₩29.7 billion (about $22 million USD) in revenue in 2023. Its current company valuation stands at ₩3 trillion (approximately $2.2 billion USD). This platform is popular in Korea for local, trust-based transactions, allowing users to meet in person and verify items before completing the deal.

Craigslist

Image Source : Wikipedia

 
On the other hand, Craigslist doesn’t reveal its exact number of members, but it attracts millions of visitors each month globally. In 2023, Craigslist earned $660 million USD, positioning itself as a massive player in the worldwide secondhand market.

Comparison

Danggeun Market focuses on local transactions and prioritizes trust between neighbors, while Craigslist is a global platform with a broader range of categories. However, Craigslist tends to have a higher risk of scams, due to its global and largely anonymous nature.

2. History and Name Origin

Danggeun Market

Danggeun Market was founded in 2015. Initially launched as a simple secondhand app, Danggeun Market changed its name in 2016 to reflect its core mission: "당신 근처의 마켓" (which translates to "Your Nearby Market"). Co-founded by Jae Hyun Kim and Yong Hyun Kim, both of whom previously worked at tech giants like Naver and Kakao, the platform was designed to foster local connections through safe, direct transactions.

Craigslist

Craigslist was started by Craig Newmark in 1995 in San Francisco. It began as an email list for local events and job postings but quickly expanded into the global classified ads platform we know today. The site’s name, unsurprisingly, comes from its founder, Craig.

Comparison

Danggeun Market is hyper-focused on local community interactions, encouraging users to trade with people in their neighborhoods. Craigslist, on the other hand, has expanded to a global audience, offering everything from job listings to housing and services.

3. Key Features and Pros & Cons

Danggeun Market

Features:

• Local-based transactions: Users can trade items within a close radius.
• Trust and safety: The platform uses local verification, ensuring a reliable environment for users.

Pros:

• Low risk of fraud: You meet the seller in person and can inspect the item.
• Community-building: It’s more than just a marketplace — it helps foster interactions with your neighbors.

Cons:

• Limited reach: If you live in a small area, the number of available items might be fewer.
• Inconvenient for some: You have to meet the buyer/seller in person, which can be a hassle.

Craigslist

Features:

• Craigslist isn’t just for secondhand items. It includes job postings, real estate listings, and services.
• It’s used globally, which means you can buy and sell practically anywhere.

Pros:

• Wide variety: It’s easy to find what you’re looking for, whether it’s used furniture or a new job.
• Huge user base: The sheer number of listings makes it fast to find things.

Cons:

• High risk of scams: Craigslist lacks robust feedback or security systems, so you might end up dealing with unreliable sellers.
• Complicated interface: Some users find it tricky to navigate, especially compared to newer, more user-friendly platforms.

4. Future Market Outlook

Danggeun Market’s Future

Danggeun Market plans to expand internationally, focusing on O2O (Online-to-Offline) services. They aim to collaborate more with local small businesses, helping them connect with broader audiences through the platform.
Analysis: With a strong user base and the ability to customize its services to fit local cultures, Danggeun Market is well-positioned to grow globally, especially in regions that value local community connections.

Craigslist’s Future

While Craigslist still maintains a strong user base, it’s somewhat behind in technology. Improvements in user experience, like fraud prevention systems and better interface design, will be essential for keeping up with newer competitors.
Analysis: Craigslist’s broad range of categories and established reputation mean it’s not going anywhere soon, but it will need to innovate if it wants to stay ahead of the competition.

---

Which Platform is Right for You?

Both Danggeun Market and Craigslist have their own unique strengths and weaknesses.

• Danggeun Market is ideal if you value local, safe transactions and want to connect with people nearby.
• Craigslist offers global reach and a wide variety of listings but comes with a higher risk of scams.

Ultimately, the right platform depends on how you prefer to trade. Do you want to trust your neighbors and keep things local, or do you prefer having a global pool of options? Which platform would you choose?
 
• boast - 자랑하다
• revenue - 수익
• valuation - 평가액
• trust-based transactions - 신뢰를 기반으로 한 거래
• verify - 확인하다
• local transactions - 지역 거래
• anonymous nature - 익명성
• core mission - 핵심 사명
• foster - 촉진하다
• classified ads - 분류 광고
• fraud - 사기
• community-building - 커뮤니티 형성
• inconvenience - 불편
• competitors - 경쟁자들
• broad range - 넓은 범위
• established reputation - 확립된 명성
• weaknesses - 약점
• global pool of options - 전 세계적인 선택지