The idea surrounding the Web 2.0 trend is the ability to let Internet users become more involved through social interaction (i.e. MySpace). The trend, however, also seems to be sparking ideas for new ecommerce ventures as well. Re-inventing this idea is a new web venture startup called iletyou.com; a site that is offering users the ability to start up their own online rental DVD business similar to Netflix or Blockbuster.com. In addition to over 100,000 DVD's available to rent out, 'iletyou' users will also be able to rent out nearly 5,000 video games. In case you were interested in joining, the site is currently in Private BETA and requires an invitation code so you're out of luck at the moment. Unfortunately, the site is not yet open for public viewing, and their is little information available on the company as of yet.
My Speculations About the New Service:
According to the site, you can open a store and join its rental community within a matter of minutes and even choose your pricing, which can start as low as $2.00 per rental. As far as profit margins are concerned - it is not yet clear what portion of the profits iletyou.com plans on charging for its services. However, I'm assuming its probably in the $1.00 - $1.50 range per DVD, but at this point it is just speculation. The site doesn't state whether plans are in the making for a monthly subscription based service either; however, it seems obvious that it would benefit store owner's by promoting customer loyalty. The site also looks as if it will be using a feedback system based on percentages similar to eBay:
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- Billy's DVD & Games
Started: Nov 06, '06
Movies: 69
Games: 0
Feedback: 0.00%
1 comment:
Rodger Visitacion, one of the owners of ILetYou.com also owns another company Netmagazines.com (which is owned by his other company NetVision Associates). Netmagazines.com never fulfilled my magazine subscription order which was placed in July 2007. It is now the end of November and I have not received one issue. Netmagazines, as ILetYou.com, offers no means of contacting their company. After numerous attempts at trying to e-mail Rodger Visitacion and NetMagazines.com I have not received any response. I hope that they will refund my money. I've read a lot of other people's complaints about Netmagazines.com and NetVision Associates on the internet and on the Better Business Bureau website. I hope that ILetYOu is not another one of Rodger Visitacion's internet scams.
Sincerely,
Maria Chadwick
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