MatexNet,
the first internet-based material exchange company in
the country, is in an expansion mo-de and is launching
used vehicles and surplus retails goods verticals.
The used vehicles division will be a common e-trading
platform for used vehicle trading, the surplus retail
division will trade in the slow moving, readily
available finished retail goods.
The Bangalore-based company has been in B2B for over a
decade and conducts auctions for products and services
as varied as copper, chemicals, desktops, human hair and
transportation services
Mr Jagannivasan, managing director, MatexNet, said, that
the company had transacted about Rs 1,000 crores
business through the Internet and “we would continue to
explore new opportunities in the e-trading platform.”
“We are in talks with a companies providing
transportation service to the IT ITES and SME sector,
which dispose of their vehicles after 3-4 years. We are
confident that we can bring them on our platform and
make them available to the customers,” he added/
The company is aiming to reach 400 cities in the next
one year.
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