L.A.-based KarmaGoat lets consumers sell their goods for charity
Many companies donate a small percentage of their revenue to charities during the holidays. One Los Angeles start-up, KarmaGoat, has built its entire business model around the idea of giving back.
Launched in May, the Westwood company is similar conceptually to Craigslist but combines transactions in secondhand goods, donations to charity and social fund-raising.
Here's how it works:
-- A seller posts an unwanted item -- say, a handbag -- on KarmaGoat for $50.
-- A buyer in the market for a new purse sees it and, using Facebook to log in, makes the purchase through the site.
-- The money from the sale will go to a charity of the seller's choice, such as Red Cross or United Way.
-- The seller and buyer arrange a time and place to make the exchange.
-- Andrea Chang
Photo: KarmaGoat's website. Credit: KarmaGoat