“Core issues included quality, defensibility, user experience, and an inability to address value propositions offered by new competitors in a scalable way,” he added of Riley’s demise.
Riley was founded in 2015 and offered an automated personal assistant service that could find listings for potential homebuyers. The company used an automated system to begin conversations with consumers, but humans would eventually get involved to pull together listings that the homebuyer might be interested in.
The company’s products evolved over the years, and in 2017 Riley began offering a lead-qualification service, the pricing of which started at $200 per month.
In his post this week, Ahmadizadeh said that the lead-qualification product “took off.”
Read more here
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