Amsterdam—August 5, 2015—WeMarket, founded by the creator of WeTransfer, launched the world’s first members-only business-to-business (B2B) marketplace in which renowned brands and small businesses actively trade with distributors, wholesalers, retailers and stocklot traders. WeMarket accelerates cross-market trade by bringing together suppliers and buyers from all industries around the world on a smart, safe and simple online marketplace.
Global users connect and work directly with each other to instantly buy or sell products through an innovative easy-to-use interface. WeMarket currently operates a horizontal business model that includes a wide variety of members in different sectors, including fashion, consumer electronics and (online) retail. Current members include T-Mobile and Philips, who are already engaging in their first business transactions on WeMarket.
“Estimates show that more than $1.75 trillion is lost annually due to retail inventory distortion: overstock, out-of-stock and returns. With that in mind, we wanted to build a truly international business-only marketplace,” said Gijs van den Broek, chief commercial officer of WeMarket. “WeMarket was designed with our members in mind. Many businesses miss out on their core activity: doing trade. It isn’t always clear which products are available or in demand in international markets, and reliable trade is hindered by difficult identification of suitable business partners, credit analysis or international clearance. WeMarket removes these final barriers with just a click of the mouse.”
WeMarket creates a flow of multi-market trade opportunities, offering safe trading in a way that is as easy as online shopping. With the introduction of WeMarket Karma, a reliability score based on the user’s profile, reviews and trade analytics, the reliability and credibility of each business partner will be clearly marked on the member pages. In this way, WeMarket Karma enhances the safety and satisfaction of the exchanges. Verification and immediate credit scoring of new members is done by Dun & Bradstreet.
Products may include next year’s product lineup, overstock, refurbished products or returned merchandise. Members pay $500 a year for unlimited trading, and WeMarket does not ask for a percentage of the trade deals or any placement fees.
Through a personalized trade dashboard, such as saved search notifications, personalized product suggestions and bookmarking product offers, members receive real-time updates on the products they need. The user-focused interface is designed to bring buyers and suppliers in direct contact to do business with as little hassle as possible, effectively enabling true end-to-end trading.
Service partners include Dun & Bradstreet (business verification); IDchecker (identity verification); PayPal (B2B payments); UPS (shipping and clearance); SGS (quality inspection); and Bird & Bird (commercial contracts).
WeMarket expects to see its members trade over $500 million by mid-2016 and is confident to reach at least 1 million members over time.