Auction site Proxibid reported double-digit growth in online sales in 2015 and a nearly 50% increase in Merchandise Value (GMV) compared to 2014. The company attributes the strong growth in part to a partnership with eBay.
“Company growth was fueled by a key partnership announcement with eBay and a capital infusion, which has allowed Proxibid to innovate at an even faster pace,” Proxibid spokesperson Dana Kaufman said.
Last year, Proxibid announced an agreement to integrate item listings in the heavy construction equipment and industrial machinery categories directly into the eBay marketplace. The technology went live in November.
Strength in certain categories also had a direct impact on Proxibid’s growth last year, Kaufman said, specifically heavy construction equipment, industrial machinery, and collector car categories.
Proxibid reported that over $4 billion in inventory passes through its Marketplace annually via live and timed auctions, and Buy Now and Make Offer capabilities, across 15 categories that include heavy equipment; industrial machinery; real estate; fine art; antiques and collectibles, and more.
In August, Proxibid received a significant growth investment that the company is using to expedite product technical development and increase capacity in both sales and marketing.
Proxibid CEO Ryan Downs said the company is excited about what the future holds “as we continue to introduce meaningful products and services that impact the way goods are bought and sold online.”