LabX announced it has greatly increased the number of laboratory, and medical products offered for auction and for sale in the past four months. Since October 2003, LabX listings have increased from 5,000 to more than 50,000 items.
“We are really excited by this large increase in listings on LabX in such a short period of time," said Bob Kafato, CEO of LabX. "We estimate that the value LabX delivers to our sellers has risen from $30 million to over $60 million per year.” Kafato said the increase in listings is attributed to a new technology initiative that they are in the process of patenting.
LabX is a rapidly growing niche online marketplace serving the scientific products industry. Since 1995, LabX has been a host to buyers and sellers, providing dynamic auctions and fixed-price classified ads. LabX also lists hundreds of free wanted ads and has over 40,000 members worldwide
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