IronPlanet Reports Record 2011 Sales, Improves Volume 15 Percent
IronPlanet, a leading online marketplace for used heavy equipment, announced record annual sales in 2011, with gross merchandise volume exceeding $568 million, a 15-percent increase from 2010.
“I am pleased with our 2011 results, closing another year of record sales as we continue to build the world’s largest online marketplace for used equipment,” said Greg Owens, CEO of IronPlanet.
In 2011, IronPlanet conducted a record 114 auctions worldwide, 16-percent more than in 2010. In total, more than 37,000 items were sold, up approximately 14 percent from 2010.
IronPlanet averaged more than 10,000 new user registrations a month in 2011, a 13-percent increase from 2010. IronPlanet auctions in the U.S. generated significant international participation with approximately 40 percent of items sold receiving international bids and 22 percent of the items sold to buyers outside of the U.S.
“This year we will continue to focus on driving value for our customers as we strengthen our geographic footprint, continue to expand into new vertical markets and drive new marketing initiatives to grow our worldwide buyer base,” said Owens.
During its first onsite and online auction Feb. 21-24, IronPlanet sold more than $50 million of GMV with more than 42,000 attendees from 146 countries. The four-day sale was IronPlanet’s largest auction in company history.
Pleasanton, Calif.-based IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.