By Katie Newland, Director, ACG National Capital
One of the benefits of being part ACG National Capital is the opportunity to listen to interesting speakers at our monthly breakfast series. This month, our speaker will not disappoint.
On Friday, July 16, we will be joined by one of the regions’ most successful entrepreneurs — Bill Angrick III. Bill is Co-Founder, Chairman of the Board and CEO of Liquidity Services, Inc. (LSI). In 1999, he provided the initial $100,000 seed capital to launch this business. Fast forward to 2010, LSI has completed the sale of more than $1.5 billion of surplus for commercial and government customers. An early Internet adopter, LSI created a business model for the next business frontier of rapid growth in the wholesale marketplace.
Bill, a true business leader in the business-to-government space, is nationally recognized for his company’s business model and was interviewed for David C. Wyld’s book “Business 2 Government: We the People Speak on e-Government–Interviews with Leading B2G Players.”
As states and local governments and federal agencies, as well as large corporations work to deplete surplus of many things from aircraft to big screen televisions, LSI offers a way for customers deplete these assets online in an eBay-type environment with consumers bidding on products.
LSI, a publicly traded company on NASDAQ (LQDT), provides leading corporations, government entities and buying consumers with the world’s most transparent, innovative and effective online marketplaces and integrated services for surplus assets.
Even given the current economy, business is booming for the company as is evident with its recent announcement of record revenue for Q2. In addition LSI recently announced its acquisition of Network International, Inc., in an all cash transaction with the expectation of the deal adding about $45 million of annual gross merchandise volume. This acquisition strengthens LSI’s business by adding 22 Fortune 500 companies and eight of the world’s largest multinational companies across the energy supply chain as new clients.
On behalf of ACG National Capital members, I hope to see you on Friday. To register for the event, click here.