IronPlanet sales top US$ 560 million
By Sarah Ann McCay26 March 2012
Online heavy equipment marketplace IronPlanet saw a +15% increase in gross merchandise volume (GMV) for 2011, with sales exceeding US$ 568 million.
In 2011, IronPlanet conducted a record 114 auctions worldwide, an increase of +16% over 2010. More than 37,000 items were sold through the website, up +14% over 2010.
IronPlanet averaged more than 10,000 new user registrations a month in 2011, a +13% increase over 2010. Its international spread also grew, with 40% of items sold receiving international bids and 22% of the items sold to buyers outside of the US.
The company's record growth has continued into 2012. During its first onsite and online auction in February, IronPlanet said it sold more than US$ 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.
For 2012, the auction house said it wanted to strengthen its geographic footprint and expand into new vertical markets. According to CEO Greg Owens, IronPlanet aims to become the world's largest online marketplace for used equipment.