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Machinio.com: A Global Search Engine for Used Machinery
Two of the biggest pain points buyers experience when searching for needed equipment are how difficult and how time-consuming the process is. By gathering listings from thousands of equipment dealers from all over the world, Dan Pinto and Dmitriy Rokhfeld are making that process effortless for buyers.
“Dan and I understood that we could leverage technology in a way unheard of in agriculture and aggregate millions of listings from thousands of global sellers,” says Rokhfeld, cofounder and CEO of Machinio.com. “We build tools focused on removing steps in the process for buyers and sellers, so they can spend less time messing with technology and more time focused on their core business.”
Founded in 2012, the partners created Machinio.com, a global search engine for finding used machinery and tools. According to Laura Pereira, who is part of the operations team, over 550,000 buyers from 190 countries visit the site each month.
“Using proprietary technology, we connect interested buyers with thousands of global sellers who have the equipment they are looking to purchase. We help accelerate the sale of equipment,” she explains. “More than 50,000 leads were sent to sellers in the month of September (2017) alone.”
Sellers can be assured those leads are properly vetted. “We run a multistep vetting process to save time and energy. We identify red flags before they reach sellers,” Rokhfeld says.
“We’ve made sales through Machinio.com,” says Jeff Sloan, Sloan Implement. “You see a LOT of scammers out there – but not with Machinio.com. The website provides legitimate buyers.”
Having access to a larger pool of options is a win for farmers and dealers.
“With the rise of the internet, buyers have more choices than ever,” says Samuel Mulkey, senior business development representative with Machinio.com.
Over the last five years, the company has grown very quickly by capturing those buyers and introducing them to agricultural businesses.
“Multigenerational businesses continue to operate successfully by constantly adapting to the needs and changes in the industry,” Mulkey says.
“For dealers to continue growing their businesses into the future, they’ll need to reach buyers who no longer come to them directly and, of course, new buyers,” he adds.
“I like that the website presents the location and broadens our reach,” notes Sloan. “Its price is also lower.”
The site is not a pay-to-play marketplace, Mulkey says. Sellers pay an annual membership fee based on the package options chosen, which means no commissions are taken off of transactions and sales.
“Everyone is on an even playing field,” he says. “Our buyers are searching for specific machines, and dealers may have what buyers are looking for regardless of the size of their companies or how long they’ve been around.”
Founders: Dan Pinto, chief technology officer, and Dmitriy Rokhfeld, chief executive officer
Global headquarters: Chicago, Illinois
Background: In 2012, Pinto and Rokhfeld began working on Machinio.com and launched the initial prototype in early 2013. They opened their first office a year later. Interest and demand grew quickly from buyers and sellers around the world. A second office was opened in Berlin in early 2017.
Funding: Machinio.com has raised $4.04 million from investors including a $3 million round led by Ritchie Bros.