MatexNet introduces online B2B verticals

By SiliconIndia   |   Wednesday, 27 June 2007, 07:00 Hrs
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Bangalore: MatexNet, a Material Exchange company, has launched two new business verticals for Used Vehicles and Surplus Retail Goods. While the Used Vehicles Division will be a common B2B platform for the vehicle e-trading, the Surplus Retail Division will facilitate and deal with the slow moving, readily available finished retail goods.

According to Yogeshwaran, Director, MatexNet, the division for used vehicles will fulfill the specific needs of corporate such as BPOs, airlines, travel bureaus etc when they want to dispose their existing fleet of vehicles in bulk in order to upgrade to other models. In Surplus Retail Division, auction will start at a minimum reserve price for a fixed quantity above which the buyer can place his bid. Items will be available for sale on a first come-first serve basis. The company is also in the process of launching new verticals to its core business of Inventory Disposal Solutions in near future.

MatexNet has been in the B2B business for more than a decade conducting auctions for products and services as varied as copper, chemicals, desktops, human hair, transportation services, etc. Mainly operating out of Mauritius, MatexNet has now expanded across the country to 28 locations including places such as Nasik, Rajkot, Baroda and Chandigarh . It plans to expand to the neighboring markets such as Nepal, Bangladesh, Srilanka and Singapore.

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