A warning to all the experts: on January 1st we must start charging a fee on the money you win. The fee will be 7%.
When we first started this site, we charged the askers 6% plus .60 cents. PayPal charges us 5% plus .30 cents. They charge us 2.9% when the money first comes in, and then they charge us 2% when you withdraw the money. We have other costs of course, including the cost of the servers.
We eventually raised our prices to .99 cents plus 12%. At this point the growth of the site stalled.
Over the summer we experimented with carols prices, including a flat price of $2.49. This was a disaster. You can see in our charts that in late July and August we lost business:
Then, for several weeks, we got rid of all listing fees. We took a loss on every question. Activity on the site revived.
We are for now charging the askers a small .90 cent fee. This is not enough to cover our costs, not even our PayPal costs.
We realize now that any listing fee holds back the growth of the site. So in the future, we will have to charge the experts a fee. Hopefully this will be a win-win situation – the site will grow and we all make more money, despite the 7% fee.