Pittsburgh Innovates

Bartering, the world’s oldest form of commercial enterprise, has taken an online twist.

Pittsburgh-based Green Apple Barter Services offers customers an opportunity to swap goods and services, trading everything ffrom surplus inventory to heat exchangers, vacations, even meals at local restaurants. The online company, founded by Michael Krane in 1991, manages $4 million in bartering activity for more than 1,500 clients from Boston to Honolulu.

GAB works like a bank, awarding sellers with credits for goods sold that can be turned around to buy other products and services offered by GAB. The company has moved a total volume of almost $58 million.

For example, when the Firehouse Lounge on the South Side needed a new roof deck, they went to GAB who helped them find a deck company who installed it on trade. The whole deal was sealed with credits, says Justin Krane, director of marketing.

What sets GAB apart from other online sellers is its team of brokers who bring buyers and sellers together to seal deals. GAB employs 15 people in its two offices at its distribution center in the North Hills and administration center on the South Side.

“Most (bartering) companies rely on the Internet to put things together,” Krane adds. “We’ve found we need that direct contact to service people’s needs.”

Large and small companies and individual sellers are welcome. For Pittsburgh traders, credits can pay for a meal at one of 90 local restaurants. “With the economy being a bit long and tall, it’s often better for a company to buy something on trade credits rather than spend the money,” says Krane.

Writer: Sara Brown and Debra Smit
Source: Michael and Justin Krane, Green Apple Bartering Services

Image courtesy Green Apple Barter Services