Penn State students have a new classified Web site, much like eBay, to help with all buying and posting needs thanks to a student who, with the help of his brother, put his ideas to work.
Brothers Jared Newman (senior-management) and Matthew Newman (senior-bio-chemical engineering) combined their talents to start The Lion Market, www.thelionmarket.com, for Penn State students and residents of State College.
The Web site features eight categories in which users visiting the site may post information or items for sale. Using the Web site, users can find roommates, rentals, apartments to sublet, textbooks and tickets for sporting events and concerts.
The textbook feature allows students to place up to five books on his or her account and choose the price he or she wants for the sale.
Jared said he got the final push to create the Web site after taking a cooperative education program at Johnson & Johnson last semester.
"I had a great time at my co-op, but I realized that I just did not want a typical nine- to-five job," Jared said.
"I was always interested in eBay and buying and selling, and realized that State College didn't have a Web site for that, so I decided to try it out," he added.
Jared decided to put the thought of the Web site into action this semester. In less than a month, he and his brother created and designed the site, and put it online last month.
Jared contacted marketing instructor Andrew Bergstein for his input on the idea.
"He has made his idea profitable for many students. Instead of them at the end of the year selling something to their friends for ten dollars, they can put stuff on the site and make a higher profit," Bergstein said.
Bergstein said the model Jared is using allows him to profit from the Web site's traffic, not the exchange and sale of items, as users can buy and sell on the site for no outside fee.
He said Jared has a system that monitors traffic on the site, and then is able to use the information as a marketing tool for gaining advertisers on the Web site.
Bergstein said many potential advertisers are interested in seeing the student traffic to determine if they would like to use the site for their companies.
"The concept behind the site is excellent and it is a real issue [for many students]," Bergstein said. "It is something that many students would be interested in checking out."
Some students are receptive to the idea of The Lion Market.
Brian Gabazzi (sophomore-mechanical engineering) said he has previously used sites such as eBay and would definitely consider a similar local site.
"I will probably have to sublet next year, and it would be good to list it on the site," Gabazzi said.
Alice Portalatin (senior-English) said she would keep in mind the site when wanting to sell books, music and games.
"I would use it as long as the site has a lock on it and the information is secure," Portalatin said.
In just one week, The Lion Market has logged in 600 users and acquired 200 advertisements.
The Web site has become a family affair; the men's father is a former Penn State marketing professor and has given advice throughout the process of creating The Lion Market.
Matt never had formal Web training, but is skillful with computers and helped devote his time to get his brother's idea off the ground.
Matt, who attends Penn State Abington, manages the design end of the business out of his home, while keeping constant contact with his brother through telephone, e-mail and instant messaging.
"Jared's got the idea. I've had some input on some ideas, but mainly it's him," Matt said. "Although it has nothing to do with my major, it is a lot of fun and I will continue to help out with whatever he needs."
