B-Stock Solutions Closes $1.2 Million in Series A Funding
MENLO PARK, CA, February 19, 2009 – B-Stock Solutions, Inc. today announced that it has secured $1.2 million in Series A venture capital funding led by True Ventures that will help the company complete development on its proprietary private marketplace platform and to further help its customers optimize their recovery rates on liquidation sales. The B-Stock Solutions founding team has been helping Fortune 2000 retailers and manufacturers improve liquidation performance since launching eBay’s Private Marketplace business in 2004. Since that time, the team has facilitated the liquidation of nearly $1 billion of distressed inventory.
“Liquidation is a neglected and inefficient part of the supply chain that B-Stock Solutions has improved substantially. B-Stock has successfully built a technology-enabled service solution that allows companies to liquidate from a position of strength,” said John Burke, general partner at True Ventures. “We were especially impressed by the way they help their customers turn liquidation into a regular, ongoing business process resulting in substantial reductions in excess inventory build-up on the balance sheet which, in turn, eliminates the need for massive quarter end sales at typical liquidation pricing. This improvement in recovery rates drops almost entirely to the customers’ bottom line.”
The Series A funding will enable B-Stock Solutions to deliver the most advanced private marketplace technology solution on the market and build-out world-class sales and service organizations.
“This funding will allow B-Stock Solutions to take what my team had been doing for the past 5 years at eBay to the next level.” said Howard Rosenberg, the company’s CEO. “I am excited to be able to implement our vision for a full service solution that allows our clients to take full advantage of our 20+ years of combined auction strategy and marketplace management expertise.”
B-Stock Solutions works with clients, as partners, to bring efficiency to the liquidation process. By building robust buyer bases for our clients’ products and enabling a truly competitive sales process, the company has been able to improve recovery rates by 20% -100%. In addition to improving recovery, the company’s solution allows clients to manage their liquidation with less overhead.
About B-Stock Solutions
Headquartered in Menlo Park, California, the B-Stock Solutions team has more experience helping Fortune 2000 retailers and manufacturers improve liquidation results via privately branded auction marketplace than anyone in the world. The company’s turnkey liquidation solution significantly increases recovery rates while more efficiently using your internal human resources. B-Stock Solutions’ world class team of professionals was responsible for the launch and growth of the eBay Private Marketplace business and the building of eBay’s private marketplace technology platform. B-Stock Solutions is a private company funded by True Ventures and Harrison Metal Capital. For more information on B-Stock Solutions please visit http://www.bstocksolutions.com for more information.
About True Ventures
Based in the Silicon Valley, with offices in Palo Alto, CA, San Francisco, CA and Great Falls, VA, True Ventures invests in promising entrepreneurs a the earliest stages in the highest-growth segments of the technology market. The partners at True Ventures have started over ten companies as founders, and the venture firm is designed by entrepreneurs, for entrepreneurs. The firm clearly understands both opportunities and challenges in the earliest stage of development and provides young companies with a powerful, seasoned partner. True Ventures has raised two venture capital funds to date and manages $375 million in limited partner capital. For more information, please visit www.trueventures.com for more information.