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Global Platform for Used Machinery Hits Milestone
When Dan Pinto and Dmitriy Rokhfeld created Machinio.com five years ago, their goal was simple – make searching for used equipment effortless for buyers. By gathering listings from thousands of dealers from all over the world, the pair have seen great success in achieving that goal.
“With the shift moving toward digitalization and online marketplaces, we wanted to combine the quality of the local buyer with a much larger reach. Dealers have embraced technology and what it can do for their businesses. No longer do buyers need to visit dozens or hundreds of different websites to find what they need. They can start and finish their entire search on Machinio.com,” says Rokhfeld.
Today, the site has over 2,000 paying dealers of used equipment (clients) from all over the world leveraging the technology to sell their equipment globally and to connect with highly interested buyers.
“We experienced an 87% growth in company size from 2017 to 2018, and are on track to experience an even higher percentage from this year to the next,” he says. “We now make over 70,000 quality buyer and seller connections per month, which is almost a 50% increase from last year, facilitating and accelerating the sale of used heavy equipment.”
The tools that the company builds daily are 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.
“Whether through our alert system for buyers or our emails to sellers indicating that buyers are interested in their machines, both parties can sit back, relax, and wait for their daily communication saving them hours every week,” says Rokhfeld.
It’s clear that multigenerational businesses can only continue to operate successfully by constantly adapting to the needs and changes in the industry. In the past, buyers have typically gone back to the same dealer they have worked with for years. With Machinio.com, they can now explore what else is out there.
“For a dealer to continue growing his business into the future, he will need to reach those buyers who no longer come to him directly and, of course, new buyers. Our company has grown very quickly over the past five years by capturing those buyers and introducing them to agricultural businesses,” he says.
Accessing their site, Rokhfeld adds, allows those businesses to stay on the cutting edge of technology and thrive.
“We are proud to continue solving two of the biggest pain points that buyers and sellers experience every single day: how difficult and time consuming it is to find needed equipment (buyers) and how to reach highly interested buyers (sellers),” says Rokhfeld. “Solving this ‘information discovery’ problem is the reason we founded Machinio back in 2012 and remains the driving force behind our company. We understood that we could leverage technology in a way unheard of in this industry.”
Currently, the company has two sets of headquarters – one in Chicago, Illinois, and the other in Berlin, Germany. It has begun establishing a team in Asia, which could potentially become its third headquarters.
You can learn more by visiting machinio.com.