MaterialsXchange, a digital lumber and panel marketplace that merged with commodities trading startup Mickey last fall, announced its new e-commerce site, powered by the latter’s technology.
“The updated marketplace, available at materialsxchange.com, offers a streamlined ordering process where suppliers can list products either as an ‘ask’ or a ‘bid’ and buyers can receive alerts or order products directly,” a company press release said. “The technology, powered by Mickey, is designed to make the process for buying or selling wholesale and large-order LBM [lumber and building materials] easier and more efficient – with live, real-time order tracking and pricing transparency.”
The company claims that it is easy to list a product and have the platform fill in details like product descriptions. Suppliers can see pending and shipped orders, send invoices, and receive automatic payouts. Buyers can list what they need, place orders, and see real-time shipping prices and delivery updates.
“LBM suppliers can list their products easily, and the MX platform will auto-fill product descriptions and variants making the entire inventory setup fast and frictionless. Suppliers can also view all pending and shipped orders in one place, send invoices and receive automatic payouts, and directly connect with buyers looking for their specific items. The new platform also provides a one-stop shop for buyers to source exactly what they need, place an order, and see real-time shipping prices, handling and taxes, and delivery updates.
The new site promises “instant quotes, automated logistics, no commission,” and matching buyers and sellers with “real-time pricing.” The platform currently lists softwoods and panels.
“MX ensures everyone equal access to the markets, efficient transactions, no calling around, and no paperwork,” the site says.
“With our new updated platform, we’re making it even easier for buyers and sellers to transact – all with complete transparency and at the click of a button,” the release quoted MaterialsXchange president Mike Wisnefski as saying. “No longer do orders need to be handled in an antiquated way, but now the entire experience – from accepting digital payments via ACH, to automated sales tax calculation and remittances – makes the MX platform the easiest place for LBM transactions to take place.”
The lack of fees sounds like something Mickey said in May 2022. The company had announced its online, direct-purchase, hardwood lumber marketplace. At the time, Mickey said there were no sales commissions, and the platform is free for suppliers and buyers to use. Because the company is venture-based, it was focused on growing use of the platform and then looking to find ways to monetize later on.
