Liquidity Services

Liquidity Services
Nasdaq: LQDT
S&P 600 component
IndustrySurplus asset management
E-commerce
Founded1999 (1999)
FoundersWilliam P. Angrick III
Jaime Mateus-Tique
Ben Brown
Headquarters
Bethesda, Maryland
,
United States
Key people
William Angrick III (CEO)
BrandsGoIndustry DoveBid
GovDeals
IronDirect
Machinio
Network International
Liquidation.com
Secondipity
sierraauction.com
Number of employees
687
Websiteliquidityservices.com

Liquidity Services, Inc. (Nasdaq: LQDT) is an American e-commerce company providing surplus asset management services through a network of online marketplaces. It serves businesses and government agencies by facilitating the resale of surplus, returned, and end-of-life goods. Founded in 1999 and headquartered in Bethesda, Maryland, United States.[1][2]

History

The company was founded in 1999 by William P. Angrick III, Jaime Mateus-Tique, and Ben Brown, in 1999, launching initially as Liquidation.com, a B2B auction marketplace.[3][4][5]

In 2001, it acquired SurplusBid.com, gaining access to contracts with the United States Department of Defense.[6]

Liquidity Services went public on NASDAQ on February 23, 2006, with an initial valuation of $76.9 million.[7] Prior to going public, Liquidity Services opened online auctions for European corporations and government agencies to sell their surplus goods on the international market.[8]

From 2008 to 2012, the company expanded through acquisitions, including GovDeals, Network International, the remarketing division of Jacobs Trading Company, and GoIndustry DoveBid.[9][10]

In 2015, it lost major contracts with Walmart and the Department of Defense for surplus vehicle auctions, though it retained the DoD's scrap property contract.[11][12]

In September 2016, the company launched IronDirect, a marketplace for construction equipment.[13][14]

It acquired Machinio in 2018, Bid4Assets in November 2021, and Sierra Auction in 2024.[15][16][17]

Services

E-commerce
Digital content
Retail goods and services
Online shopping
Mobile commerce
Customer service
E-procurement
Purchase-to-pay
Super-apps
Business logistics
Distribution methods
Management systems
Industry classification

Liquidity Services operates several e-commerce platforms including:

Its marketplaces support over 500 product categories across sectors such as:[23]

See also

References

  1. ^ "Online shopping drives surge in holiday returns, and what happens next may surprise you". The Star. January 15, 2017. Retrieved July 17, 2017.
  2. ^ "Liquidity Services Inc. (Liquidity Services, Inc.) Initial Public Offering". Find the Company. Retrieved June 26, 2017.
  3. ^ Richardson, Karen. "Supply chain gains". kellogg.northwestern.edu. Retrieved June 26, 2017.
  4. ^ Swiatek, Jeff. "Where do returned gifts end up? Probably Plainfield". IndyStar. Retrieved June 26, 2017.
  5. ^ Bhattarai, Abha. "Capital Business After shoppers return items, some buyers try selling them again". Washington Post. Retrieved June 30, 2017.
  6. ^ Reeves, Scott. "An IPO For The Scrap Heap". Forbes. Retrieved June 23, 2017.
  7. ^ "Liquidity Services Inc. (Liquidity Services, Inc.) Initial Public Offering". IPO Find the Company. Retrieved June 26, 2017.
  8. ^ Ramstack, Tom. "Liquidity Services Fosters Growth". press reader. The Washington Times. Retrieved June 26, 2017.
  9. ^ "Liquidity Services to acquire remarketing business of Jacobs Trading". BizJournals. Washington Business Journal. Retrieved June 26, 2017.
  10. ^ Steiner, Ina. "Liquidity Services Buys UK's GoIndustry DoveBid". Ecommerce Bytes. Retrieved June 26, 2017.
  11. ^ Moore, Tad. "D.C.-based Liquidity Services takes stock of its own business". Washington Post. Retrieved June 26, 2017.
  12. ^ "Liquidity Services Awarded New Scrap Contract With The U.S. Department Of Defense". The Street. Retrieved June 26, 2017.
  13. ^ "Introducing IronDirect.com". Constructionequipment.com. Retrieved March 27, 2017.
  14. ^ Gruver Doyle, Marcia (September 15, 2016). "Rising from ICP's ashes, IronDirect wants to be the Amazon of construction equipment". Equipment World. Big Iron Dealer. Retrieved June 30, 2017.
  15. ^ "Press Release | Liquidity Services". investors.liquidityservices.com. Retrieved August 22, 2018.
  16. ^ "Liquidity Services Acquires Bid4Assets, a Leading Online Marketplace for Government Real Estate". Liquidity Services. Retrieved August 23, 2024.
  17. ^ a b "Liquidity Services Acquires Sierra Auction, a Leading Auctioneer of Vehicles, Equipment, and Surplus Assets for Government and Commercial Organizations". Liquidity Services. Retrieved August 23, 2024.
  18. ^ Levey, Brandon (October 31, 2014). "Rid Your Business of Zombie Stock Before the Holidays". Entrepreneur. Retrieved July 10, 2017.
  19. ^ Lopez, Sandy (June 30, 2016). "Business lets customers purchase other stores' surplus online, pick up at North Las Vegas warehouse". Review Journal. Las Vegas Review Journal. Retrieved June 26, 2017.
  20. ^ Nguyen, Jason (February 16, 2017). "Good deals from the government: How to buy surplus items online". KATU. Retrieved June 30, 2017.
  21. ^ Harte, Tricia (January 16, 2017). "Where do all the Christmas returns go?". Fox 59. Retrieved June 30, 2017.
  22. ^ Censer, Marjorie. "Fort Meade acts as warehouse site for 'eBay for the Pentagon'". Washington Post. Retrieved July 10, 2017.
  23. ^ "Liquidity Services: Hidden Growth Comes To The Surface". Seeking Alpha. Retrieved June 26, 2017.
  24. ^ Aviles, Candice; Williams, Lydia (August 17, 2016). "Indiana's returned-merchandise mecca". theindychannel. Retrieved June 30, 2017.
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