Machinio.com Acquired By Liquidity Services International In Multi-Million Dollar Deal

Machinio.com was founded by Dmitriy Rokhfeld, 31, and Dan Pinto, 30, in 2012. While playing video games together during middle school, the duo realized there was a market to sell virtual items for Diablo 2 on eBay. That turned into their first business. They now solve one of the biggest pain points for the used machinery industry: finding and selling used equipment. Solving this “information discovery” problem is the reason they founded Machinio back in 2012, and remains the driving force behind the startup. In the beginning, Rokhfeld and Pinto understood that they could leverage technology in a way not previously done in that industry by aggregating millions of listings from thousands of global sellers onto one platform.

Rokhfeld and Pinto aimed to do for used machinery what Expedia and Kayak did for hotels and flights, and launched Machinio.com in early 2013. Machinio aimed to save buyers time by eliminating the need to visit dozens of different websites and instead created a website where buyers could begin and complete their entire search. In 2014, they established an office in Chicago, which is now Machinio’s global headquarters. Very quickly, they experienced strong interest and demand from equipment buyers and sellers all over the world, leading to the opening of their second headquarters in Berlin, Germany in early 2017.

Further Accelerating Growth

Before the multi-million dollar acquisition, Machinio.com had previously raised $4 million dollars from a group of high-profile investors and corporations. The acquisition by Liquidity Services, a company that operates a network of eCommerce marketplaces in more than 500 product categories, was the perfect adoption. “This acquisition supports our strategy as the world’s largest marketplace for business surplus by expanding the services and channels we offer our sellers to maximize recovery and growing our network of buyers in important global equipment verticals,” says Bill Angrick, Chairman of the Board and CEO of Liquidity Services. “Machinio is delivering superior value to their customers and our combined offering will enable us to grow our transaction volume, expand our recurring revenue service offerings, and utilize technology and innovation to improve our seller and buyer experience.”

“We are excited to partner with Liquidity Services and look forward to leveraging their expertise and resources to deliver significant value to our customers. Liquidity Services’ global brand and strong relationships will further accelerate Machinio’s growth. Together, we will continue to enhance our platform and services to meet the needs of global sellers and buyers of used equipment,” says Rokhfeld.

To date, Machinio.com has signed more than 2,300 dealers of used equipment to annual recurring subscriptions. It also generates over 70,000 qualified buyer-seller connections per month and attracts over 600,000 highly-interested buyers.

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