Whether becoming a personal driver for a company like Uber or other service, carrying out tasks on Taskrabbit, or other services, sharing economy is creating incentives for the general public to offer their services, whether on the side or full-time, in exchange for other goods and services. Bartering went out of style centuries ago as a widespread system of trade, but Barcelona-based startup Cronnection wants to bring it back with a fresh definition and allow its users to rack up hours and points that can be then cashed in for other items.
As you would expect, users get started on Cronnection by creating a profile, which allows them to track the hours and points that they have racked up. Users who sign up are awarded a small number of both points and hours to get them started. Part of the service involving performing tasks for others, but another allows users to assign value to unwanted items and to put them up for sale on the site.
Cronnection started last year, but the company remains coy about their total number of users and funding. The platform remains in beta, so it is pretty understandable. They will say that they are supported by a private investor, but have opted to keep the figures private due to their current stage of growth. Though based out of Barcelona, Catalonia, they have already gone international and operate an American office in Miami, Florida.
Cronnection is free and ad-free, so we were naturally curious about how the startup will generate revenue. Alvaro Castano, who co-founded the service and handles design, tells me that they are preparing to unveil new functions and will reveal a business model to begin to generate revenue. Castano says that they are aiming to create and alternative to capitalism, so it will be interesting to see if the service truly takes off.