MFG.com
| Company type | Private |
|---|---|
| Industry | Internet, Networking |
| Headquarters | |
Area served | Worldwide |
| Website | MFG.com |
MFG.com is an online marketplace for manufacturers. The company reportedly has more than 100,000 members around the world. Members include buyers, engineers, purchasing professionals, job shops and contract manufacturers. Its headquarters are in Atlanta and the company also has offices in Paris, Munich, Geneva, and Shanghai.
MFG.com is privately owned by Mitch Free, Founder and CEO, Bezos Expeditions and Fidelity Ventures. The company currently employs 220 people worldwide.
History
MFG.com was founded by Mitch Free in 1999 with the first site transaction taking place on February 14, 2000. Free, a former machinist, was a CAD/CAM dealer at the time and he started the business for his customers. Free bootstrapped the entire venture and gradually acquired and retained customers growing the company to a profitable business. In 2005, Free accepted an investment from Jeff Bezos of Bezos Expeditions.[1] In June of 2006, MFG.com acquired Geneva based SourcingParts.com[2] and in October 2006, the company opened its second largest office in Shanghai[3]. In 2007, Fidelity Ventures invested in the company.[4]Mitch Free still serves as the CEO of the company with members of Bezos Expeditions and Fidelity Ventures sitting on the board.
MFG.com was named by Business 2.0 as one of the 15 companies that will change the world in 2006. [5]
Buyers and Engineers
Buyers, engineers and purchasing professionals use MFG.com for free.[6] These individuals upload their RFQs online and are connected with suppliers that meet their qualifications. “Buyers” have the ability to connect with job shops and contract manufacturers based on geographic location, certifications or capabilities. Buyers can also have job shops and contract manufacturers sign electronic NDA forms.
Job Shops and Contract Manufacturers
Job Shops and contact manufacturers pay an annual subscription fee to use MFG.com. These individuals have full access to RFQs being sourced by members of the purchasing community.
Controversy
Members have accused MFG.com as being a marketplace where buyers are consistently awarding RFQs to the lowest bidder. The company denies the allegations and simply tells users that they “run a transparent marketplace, awards and their locations are visible for all to see on the company’s homepage.”
References
- ^ "SeatltlePI - Bezox Invests In MFG.com". February 6, 2007. Retrieved 2009-06-01.
- ^ "Cadalyst - MFG.com Aquires Europe's SourcingParts.com". September 6, 2006. Retrieved 2009-06-01.
- ^ "Inc. - How to get ahead in China". February 6, 2007. Retrieved 2009-06-01.
- ^ "Boston.com - Fidelity makes bid for online-auction glory". February 6, 2007. Retrieved 2009-06-01.
- ^ "Money.CNN.com - 15 Companies That Will Change The World". August 22, 2007. Retrieved 2009-06-04.
- ^ "Open marketplace: Adobe technology makes MFG.com an easier place to buy, sell goods". January 11, 2008. Retrieved 2009-06-04.