Over the last month since we announced that we were acquiring IBX Business Network, it has been some of the most exhilarating time for me at Tradeshift. I speak on behalf of the entire leadership team from Tradeshift and IBX, this has been an amazing journey.
Today, I’m very excited to announce that we’ve closed the transaction and that IBX is now officially a part of Tradeshift.
To restate what this means in numbers, our newly combined organization has 1.5 million businesses on the network, 27 million total SKUs, and will see $500 billion dollars in transacted value across the platform by the end of the year. We are now the largest business commerce platform in the world, using an open third-party app ecosystem and marketplace enabling commerce for all.
I’m humbled by the collaboration, intelligence, and drive of all our employees, new and existing alike, as we work through the integration. As we move to the post-closing stages, the combined company can now fire on all cylinders to migrate IBX customer and end users and integrate IBX apps and infrastructure to the Tradeshift platform. We’re now defining the future product roadmap and development efforts, opening new offices, aligning our newly expanded employee base of 500 across the globe, and so much more!
The result of this tremendous effort is a next-generation platform for business commerce, supported by market leading source-to-pay solutions, third-party applications, and PaaS technology that will disrupt the supply chain market like we’ve never seen before.
I hope you’re as excited as I am about the opportunity ahead.
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