Product category:
General lab equipment
News Release from: LabX
Edited by the Laboratorytalk Editorial
Team on 08 October 2004
Expanding operations to accommodate
rapid growth
LabX is increasing staff and adding office space to accommodate accelerated growth to its 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 its T-1 connection, has also linked to a high-speed fibre optic network that can offer data access up to three megabits per second
This article was originally published on Laboratorytalk on 14 Apr 2004 at 8.00am (UK)
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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.
Kafato continues: "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.".
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