Liquidity Services (NASDAQ:LQDT) operates a network of leading e-commerce marketplaces that enable buyers and sellers to transact in an efficient, automated environment offering over 500 product categories. The company employs innovative B2B e-commerce marketplace solutions to manage, value and sell inventory and equipment for over 11,000 business and government sellers worldwide. The company has generated over $7 billion in completed transactions and has over 3 million buyers in almost 200 countries and territories.
Its online auction marketplaces include: Liquidation.com , GovDeals.com, Network International, GoIndustry DoveBid, IronDirect, Machinio, and Secondipity.com.
The company is based in Bethesda, MD and has warehouses and offices throughout the U.S. and the globe.
Liquidity Services' annual revenue totaled $270 million for the fiscal year ending in September 2017.
Liquidity Services' is listed on the NASDAQ stock exchange under the symbol LQDT and completed its initial public offering (IPO) in 2006.
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History
Liquidity Services was co-founded by William P. Angrick III, Jaime Mateus-Tique, and Ben Brown in 1999. It was branded as Liquidation.com, and was a B2B auction marketplace that connects sellers to buyers. The platform allowed retailers to resell retail returns and overstockand enabled buyers to access bulk lots of surplus merchandise. In June 2000, Liquidity Services received $11.2 million in venture-capital funding from Europ@web. In 2001, the company acquired SurplusBid.com, which included a contract with the United States Department of Defense.
The company's Initial public offering (IPO), valuing the business at $76.9M, took place on February 23, 2006, and the company began trading on the NASDAQ stock exchange under the symbol LQDT. Prior to going public, Liquidity Services opened online auctions for European corporations and government agencies to sell their surplus goods on the international market.
Between 2008 and 2011, Liquidity Services acquired four new marketplaces: Network International, GovDeals, TruckCenter.com, and the remarketing business of Jacobs Trading Company. In 2012, it acquired GoIndustry DoveBid, a provider of surplus asset management, auction and valuation services.
In 2015, the company lost two large contracts. Walmart terminated its deal with Liquidity Services, and the company lost a bidding war for the right to sell the Department of Defense's surplus tanks, trailers, and other vehicles. Liquidity Services holds the DoD's scrap property contract.
In September 2016, Liquidity Services launched IronDirect.com, an online marketplace selling large construction equipment.
In July 2018, Liquidity Services acquired Machinio.com, an online platform for used equipment listings.
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Services
Liquidity Services' online marketplaces include: Liquidation.com, Secondipity.com, GovLiquidation.com, GovDeals.com, Network International, GoIndustry DoveBid, and IronDirect. They offer over 500 product categories organized into categories across 12 major industry verticals: government, energy, construction and mining, transportation, industrial manufacturing, biopharmaceuticals, electronics manufacturing, consumer goods and OEMs, automotive manufacturing, retail,fast-moving consumer goods, and aerospace and defense.
Environment
Liquidity Services works with the US federal government to divert scrap material from landfill, and supports clients with zero-waste initiatives.
Awards and recognition
- Defense Logistics Agency's Vendor Excellence Award
- Honors Laureate for Sustainability by Computerworld
- Asset Disposal Firm of the Year
- 2013, America's Best Small Companies- Forbes, #79
- Top Technology Innovator
- Top 25 Growing Tech Companies- Forbes
- Washington Post Top 200 Companies
- 100 Great Supply Chain Projects.
References
Source of article : Wikipedia
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