LabX Expanding Operations to Accommodate Rapid Growth
LabX is increasing staff and adding office space to accommodate accelerated growth to their online hi-tech equipment marketplace. Additions include a substantially larger server room to house several new Dell servers poised to handle increased traffic levels. LabX, having outgrown their T-1 connection, has also linked to a high-speed fiber optic network that can offer data access up to three megabits per second. In September, LabX showed 56% growth in Internet traffic, which supports record- breaking revenue growth of 82% year-over-year.
Bob Kafato, CEO of LabX is elated, “Our customers continue to tell us that they prefer the LabX auction marketplace for buying and selling scientific equipment over other venues. Our growth on all business metrics is accelerating. This is very exciting for a company approaching its tenth year of business. The big news is our accelerating revenue growth by quarter. This year we grew at 12%, 22% and 55% in Q1, Q2 and Q3 respectively.”
In 2005, LabX will launch a series of initiatives including a site redesign, which will add clearer navigation and increased usability. The redesign is a key element in the strategy that will introduce new avenues for industry professionals looking for a higher level buying experience. Offers Kafato, “New online auction services combined with our expansion into related industries for hi-tech products has really been a key factor in our business growth. We believe our next web service, due to be released in February, will catapult LabX growth to new levels.”
LabX (http://www.labx.com ) is an online marketplace for scientific equipment and supplies. Developed in 1995, LabX connects professional buyers and sellers using fixed-price classified ads, online auctions, and free equipment wanted ads.
