I’m very happy to announce Tradeshift’s acquisition of the IBX Business Network, the largest acquisition in our company’s history.
Our mission has always been the same: to build the world’s largest business commerce platform and provide access to commerce for all. We never set out just to build an invoicing network or a procurement system. Instead, we continuously thought about how to deliver increasing value to businesses of all sizes. That meant a platform for everything that happens between buyers and sellers, that also consists of core enterprise applications, a global supplier marketplace, and a rich ecosystem of apps that enable any type of business process.
The key driver for us to succeed in our mission is to ensure critical mass in users and content on the platform. One year ago, we set out to redefine what a procurement system should be, and already, Tradeshift Buy is recognized as truly innovative in a market that is often described as stale. But our mission extends beyond procure-to-pay.
With this acquisition, I saw a massive opportunity to turbo-charge our mission. With IBX, we are gaining a team of talented, innovative domain experts within source-to-pay and new global clients.
We are adding their network to ours, totaling to over 1.5 million suppliers. And we are adding the rich content of 27 million SKUs that they’ve amassed over the last 10 years, which will tremendously boost our marketplace. This acquisition makes us the largest business commerce platform in the world.
At Tradeshift, our diversity is something we are proud of. As a Scandinavian company, IBX shares many of our values, principles, and ideas for how to work together—we never would have acquired IBX if I didn’t feel that the IBX team is also adding a huge cultural boost to our organization. Their values, already part of our organizational DNA, will continue to help Tradeshift accomplish our mission and deliver commerce for all.
I hope you are as thrilled as I am to welcome a whole new generation of Tradeshifters aboard and to continue to build on our mission and scale Tradeshift even further.
Learn more in the press release.