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EcommerceBytes-NewsFlash, Number 1835 - July 16, 2008 - ISSN 1539-5065    4 of 4

ECO International Acquires eBay Drop-off Store turned Liquidator

By Ina Steiner
EcommerceBytes.com
July 16, 2008




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The company that sparked the eBay drop-off store craze has been acquired by a New York electronics asset recovery and recycling company. ECO International LLC acquired AuctionDrop, which had raised over $6 million in venture capital funds with its eBay consignment store business model.

Randy Adams, Bill Rollinson and Andy Jeffrey founded AuctionDrop in 2002 and received venture capital funding from Draper Associates and Mobius Venture Capital. G-51 was also an investor.

AuctionDrop made a deal with UPS Stores in 2004 when it said it realized it couldn't profitably build and operate a large network of its own retail stores.

AuctionDrop changed its business model and is now an online retailer for the liquidation of wholesale surplus and salvage inventory and assets, helping manufacturers and retailers "maximize yields on the disposition of excess inventories, customer returns, and damaged overstock goods."

ECO is a privately held company with sister companies serving high technology electronic manufacturing, research and development, international electronic component distribution, with annual revenues in excess of $700 million.

http://www.auctiondrop.com

About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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