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Proxibid Announces Successful 2015

The company achieved record online sales and strong double-digit growth over 2014.

Thu February 25, 2016 - National Edition
Construction Equipment Guide

The company achieved record online sales and strong double-digit growth over 2014.
The company achieved record online sales and strong double-digit growth over 2014.

Proxibid announced record-breaking results for 2015. The company achieved record online sales and strong double-digit growth over 2014. Gross merchandise value (GMV) for 2015 was the highest in company history, representing a nearly 50 percent increase over total GMV in 2014. Continued strength in the heavy construction equipment, industrial machinery and collector car categories helped to drive this growth.

“Our 2015 results clearly reflect the hard work our teams have put in to securing the best clients with the best inventory, while at the same time forging partnerships that will have a lasting impact on our company and the industry at-large,” said Ryan Downs, president and CEO of Proxibid. “We are excited about what the future holds for our company as we continue to introduce meaningful products and services that impact the way goods are bought and sold online.”

Proxibid also is experiencing growth in response to its partnership agreement with eBay. In February 2015, the companies announced an agreement to integrate item listings in the heavy construction equipment and industrial machinery categories directly into the eBay marketplace. This technology went live in November, and the partnership is already generating revenue for both companies.

“We're very excited about our partnership with Proxibid,” said Pooja Piyaratna, DMM, Business & Industrial of eBay. “This partnership provides eBay customers with access to a wide breadth of inventory that was previously out of reach in the marketplace, while offering Proxibid exposure to eBay's massive global customer base. We're pleased with the positive feedback we've received thus far from both buyers and sellers.”

In August, Proxibid received a significant growth investment from Primus Capital, Ohio-based private equity firm. This capital infusion has allowed the company to expedite product technical development and increase capacity in both sales and marketing. The ability to innovate at an even faster pace was another factor propelling the company forward in 2015.

“Since 2006, we have relied on Proxibid as a strategic business partner to bring online buyers to our equipment auctions,” said Steve Anderson, manager of information services of JJ Kane Auctioneers. “Thanks to Proxibid's commitment to innovation and its industry expertise, our online sales have increased exponentially, year-over-year. We are already looking forward to a successful 2016 with Proxibid as an integral part of our business.”

Proxibid offers a sophisticated risk management system, specifically designed to facilitate transactions for high value items like heavy construction equipment, industrial machinery, collector cars, antiques, real estate, and more. The company's industry-low non-pay rate of 0.15 percent means sellers get paid at the end of their sales. That, combined with a robust online platform that boasts 99.9+ percent uptime, makes Proxibid a trusted place to buy and sell highly valued items online, according to the company.

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