Word: chemconnect
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Dates: during 2000-2009
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...winner is ChemConnect of San Francisco, which has become "close to the NASDAQ of chemicals," says Stanford economics professor Bob Hall, author of Digital Dealing. ChemConnect has offices in seven countries and offers to bring together buyers and sellers worldwide. But rather than try to hook the computers of all participants into one online catalog, it started with a simple electronic bulletin board where buyers and sellers could post what they had or were seeking. From there the company worked up to more sophisticated auctions...
...whereas Ventro sold laboratory chemicals in beaker quantities, ChemConnect focused on industrial chemicals sold by the railcar--a market in which there are fewer transactions but much more money involved. "I've spoken to suppliers who had a corporate edict that they were not going to participate in this type of auction because it would only drive prices down," says Michele Hincks, ChemConnect's marketing vice president. "They regretted it because they lost a market...
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