Jiraffe

About Jiraffe

Jiraffe Inc. is a Japanese company that has carved a niche in the online reuse and collector's market. The company was founded in October 2014 by Teruaki Aso, who started the venture while still a student at Hitotsubashi University. Aso's journey began after experiencing frustration with the lack of transparent services for selling used goods, which prompted him to create a solution himself.

The company's inaugural and flagship service is "Hikakaku!", a price comparison website for used goods. This platform addresses the information asymmetry in the second-hand market by allowing users to compare買取 (kaitori - trade-in) prices for a wide array of items like smartphones, electronics, and books from various merchants. This service caters to individuals looking to efficiently sell their pre-owned items at favorable prices. The business model for "Hikakaku!" likely involves lead generation or commission fees from the listed merchants.

Over the years, Jiraffe has demonstrated a pattern of strategic expansion and divestiture. A notable acquisition was the anonymous Q&A service "Peing-QuestionBox-" in December 2017, which had gained significant traction on Twitter, reaching 200 million monthly page views shortly after its launch. Jiraffe later sold this service in 2021. Similarly, the company developed and later sold a smartphone repair portal. This agile approach to its portfolio allowed the company to pivot and focus on high-growth areas.

Currently, Jiraffe's primary focus is on the collector's market, specifically through its flea market app, "magi". Launched in 2019, "magi" is a specialized online marketplace for trading cards, sneakers, and other collectibles. A key feature of the platform is an integrated authentication service, which helps to prevent the circulation of counterfeit goods and builds trust within the community of collectors. To complement its online presence, Jiraffe also operates physical "magi" retail stores, including a location in the collector's hub of Nakano Broadway and its first overseas store in Taipei. The company generates revenue through transaction fees on the "magi" platform and sales from its physical stores. The firm has successfully raised significant capital over several funding rounds, with a cumulative total of approximately 3.3 billion yen, from investors including Mercari, East Ventures, and Dream Incubator.