MIAMI, May 9, 2019 /PRNewswire/ -- HUBX, the first anonymous B2B marketplace platform disrupting and democratizing the trillion dollar secondary distribution industry, today announced it has closed out the company's first year with $216 million in revenue. HUBX, which was bootstrapped and founded without outside capital, began to make a profit within months of the company's launch and acquired customers in 100+ countries.
Derek Wall, former founder and CEO at a Rakuten subsidiary, took his decades of technology and business experience to found HUBX, an anonymous marketplace platform connecting worldwide B2B buyers and sellers. The company's technology infrastructure gives manufacturers, distributors, vendors, buyers and customers the ability to connect and communicate anonymously throughout its ecosystem.
"The success we have seen in our first twelve months is due to the application of technology and innovation in an industry that has long been considered broken," said Derek Wall, Founder and CEO of HUBX. "For decades, manufacturers and distributors didn't have a formal channel to sell their excess, end of life, and factory refurbished inventory. The lack of a secondary distribution channel caused erosion in their margins. Our mission is to provide a technology infrastructure giving them complete control by enabling them to sell direct, which ultimately increases their margins and profits."
Leading manufacturers have joined the platform such as Dell, Lenovo, MSI, Samsung and traditional distributors including Ingram Micro, Synnex, Techdata, D&H, ASI as well as hundreds of retailers, refurbishing facilities and vendor partners. This offers HUBX's customers a wide range of access to an exclusive collection of top brands, below wholesale prices. Unlike platforms that came before it, HUBX controls the supply chain, from taking title, procurement, distribution to logistics, all the while keeping the financials digital. This keeps buyer/supplier relations anonymous from each other, while still offering full cost and sales transparency.
Wall added, "Similar to Amazon starting in books, HUBX started with computers. Our vision is to become the first and largest anonymous B2B marketplace in an effort to empower hundreds of thousands of worldwide manufacturers and distributors."
In the coming months, HUBX has plans to infiltrate new markets as well as bring on additional talent to its current roster. HUBX is already supported by industry leaders including David Arredondo, who previously served as Global VP of Brightstar – a SoftBank company – and who was recently appointed to the position of Chief Revenue Officer at HUBX. David heads the mobile division at HUBX and is leading the charge to bring the company into the mobile industry, where it plans to conduct billions in mobile phone sale transactions.
"I'm thrilled to have come on board with a company that is already showing tremendous signs of growth, and hope to only advance this growth through our new mobile division," said David Arredondo, Chief Revenue Office at HUBX. "There is a huge need for a platform to streamline B2B commerce in the mobile industry, and we are excited to be one of the first to succeed at this."
For more information on HUBX and its plan to emerge into new markets, please see here.
HUBX is the first marketplace platform democratizing the trillion dollar secondary distribution industry by empowering manufacturers, brands and distributors to sell anonymously direct to worldwide B2B buyers. Founded by serial entrepreneur Derek Wall, the company aims to improve the fragmented and costly distribution industry that has left manufacturers without a distribution channel for their excess, end of the line or factory refurbished inventory. HUBX is designed to act as a formal secondary distribution channel, providing sellers' cutting edge marketplace technology to enhance and grow their business while offering global buyers access to an exclusive collection of products below wholesale prices.