Surplus equipment site goes live

GoIndustry.com, a business-to-business website for surplus equipment, has been launched on the Internet. The multi-lingual site is claimed to be the first such trading platform in Europe.

GoIndustry.com, a business-to-business website for surplus equipment, which is intended to bring together buyers and sellers throughout Europe, has been launched on the Internet. The multi-lingual site went live at the end of March and is claimed to be the first such trading platform in Europe.

With operations in Munich, London and Paris, the site offered 5,000 pieces of equipment at a value of $60million at launch. GoIndustry.com estimates that the market for surplus equipment in Europe is $100 billion.

The site is focused on selected equipment categories, initially manufacturing machinery and office equipment. ‘We are focused on creating a comprehensive choice of equipment for buyers,’ said Andrew Heath, GoIndustry.com’s co-CEO. ‘Sellers bring buyers, and buyers bring sellers – this depth of offering will lead to a liquid, thriving marketplace.’

Equipment will initially be sourced from the UK, France and Germany but by the third quarter of this year, it is planned that Asia and the Middle East will also be providing equipment for the site. GoIndustry.com has entered into strategic partnerships with various providers to offer additional services. Partners include Deutsche Bank, SGS, Allied Pickfords, CreditReform and SDL International.

Founded in April 1999 by David Nahama, Alex Hoye and Andrew Heath, GoIndustry.com raised $10million funding from Atlas Venture in October 1999 – one of Europe’s highest first round B2B Internet investments. At that time the site went live with version 1.0. Trading went live with the tri-lingual version 2.0 on March 31st.