Hard numbers on B2B marketplaces remain still hard to come by, even though there are now more than 400 U.S. marketplace platforms and marketplaces are a part of the business digital commerce mainstream, according to data and analysis from the newly published 2022 B2B Marketplace 400 research report from Digital Commerce 360.
But new numbers from Bowery Capital, a New York investment firm that invests in B2B marketplace companies, provide a glimpse of just how big marketplaces are becoming — and they show that marketplaces are emerging as significant ecommerce employers.
For example, a pair of marketplaces, EquipmentShare, a B2B marketplace serving the construction industry, and IndigoAg, Boston agriculture marketplace, now each generate a $1 billion or more in annual gross merchandise volume, according to data from Bowery Capital.
B2B marketplaces also are adding to their ecommerce head count
EquipmentShare, which helps contractors rent out their under-utilized equipment, or rent safety-tested equipment, now has a workforce of 3,000 employees.
“We’ve grown from a small group of founding members to 3,500 employees,” the company says. “And we’re not stopping any time soon on our mission to change how construction gets work done.”
Another B2B marketplace, Flexport, now has a workforce of 2,800 employees, according to the Bowery Capital data. Flexport, which was founded in 2003, services the freight forwarding and customs brokerage industry. In June, Flexport hired Dave Clark to be its next chief executive officer. Previously, Clark worked as CEO worldwide consumer at Amazon, which he joined in 1999. In February, Flexport raised $935 million in new investment money led by Andreessen Horowitz and MSD Partners. The company says its marketplace technology moved $19 billion of merchandise across 112 countries in 2021.
Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at [email protected]. Follow him on Twitter @markbrohan.
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