simple business models are the best

Filed in archive Venture Capital on December 25, 2003

Auctiondrop a provider of eBay drop-off service has recieved $3 million in a thrid round of funding. The drop-off business model, means establishing stores and taking a provision for sold items. This is one of the most simple business models (with small entry barriers) I've seen with substantial funding for a good time. Amazing that Auctiondrop could attract $ 6.5 million venture capital since inception. Seems KISS is still good for a company motto - Keep It Simple, Stupid.