IronPlanet IPO
Online heavy equipment reseller IronPlanet Inc. has filed for a $92 million IPO according to filings with the U.S. Securities and Exchange Commission.
IronPlanet is a pure Internet play focusing on auctioning off used agricultural and construction equipment around the world. While there are no specific figures from the currently privately held company, it is estimated their sales are in the hundreds of millions annually.
What is known are the revenue and profits generated by the company, with revenue in 2008 to 2009 growing from $35 million to $54.7 million. Profits in 2009 stood at $12.9 million, a major increase from profits of $1.9 million in 2008.
This seem to show the extremely low overhead and costs the company incurs, at least with the 2009 contrast between revenue and profits, which were extraordinary if you project them out.
The difference in 2008 contrast between revenue and profit was much less successful, probably related to a learning curve and marketing the company in the early stages.
IronPlanet IPO
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