Tradeshift, an Internet portal for industrial buyers and sellers, is growing in multiple ways as a provider of trading services, the company says.
Launched in 2010 and now based on San Francisco, Tradeshift says its portal is used by 500,000 companies across 190 countries. Among its newest participants are airline Air France-KLM, automotive technology providers SNOP and Eberspacher, and apparel company Inditex.
Although Tradeshift doesn’t report the number of transactions between buyers and suppliers, it says the number of monthly transactions has grown by more than 200% over the last six months.
Tradeshift opens its technology platform to companies that develop software applications for integrating the Tradshift portal with the business software systems of the portal’s buyers and sellers. Such applications, which developers can build for their own companies or for others, include desktop applications and mobile apps for creating and editing purchase orders and invoices shared among buyers and suppliers on the portal.
Tradeshift is also increasing the number of companies offering technology and services to the buyers and sellers on the portal. In the past few months, it has started working with Quyntess to provide supply chain management software to the portal’s buyers; EcoVadis for a supplier rating system; and C2FO for managing the exchange of invoices.
Bill McBeath, chief research officer at supply chain research firm ChainLink Research, says Tradeshift has shown unusually strong momentum for a trading portal in recent months in attracting both users and providers of technology and services. “That appears to be what we are witnessing on Tradeshift’s networked platform with the steady stream of new capabilities, partners, and customers in recent months,” he says.
Tradeshift has its roots in Copenhagen, the capital of Denmark, where founder and CEO Christian Lanng and his co-founders started the company in 2010. They moved their headquarters to San Francisco in 2012, but still maintain offices in Copenhagen; London; Paris; Munich, Germany; Tokyo; and Suzhou, China.
Earlier this year, Tradeshift named as president and chief operating officer Jigish Avalani, who has served as an executive and board member of several technology companies. Prior to joining Tradeshift in May, Avalani was senior vice president at Concur, a developer of software used for such purposes as managing business travel schedules and expenses. He is also a former executive involved with developing corporate accounts at Microsoft Corp., which is listed in the 2015 edition of the Guide to B2B E-Commerce.
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