Liquidity Services Inc. / LQDT

About Liquidity Services Inc.

1920 L St. NW, Sixth Floor, Washington, D.C. 20036
www.liquidityservicesinc.com | 202-467-6868 | Founded: 1999

Industry: Financial Services | Category: Top 100 Companies

The company is a newcomer to The Post 200 list, having sold its first shares to the public in February of this year. On the first day of trading, its shares climbed 23 percent from the IPO price to close at $12.29.
The company took off in 2001 when the Pentagon awarded it an exclusive contract to handle the resale of the Defense Department's surplus goods. Govliquidation.com was launched that year to accommodate that contract. In fiscal 2005, that site generated 87.5 percent of the company's revenue. About 80 percent of the site's proceeds go to the Pentagon, a spokeswoman said. Previously, the Pentagon held live auctions to sell its surplus inventory.
In 2003, the company launched UKsurplus.com to handle a similar contract from Britain's Ministry of Defense.
LSI was founded by William P. Angrick III, Jaime Mateus-Tique and Benjamin R. Brown during the tail end of the Internet frenzy. The three founders still run the company.
In the past three fiscal years, LSI has conducted 436,000 online transactions generating about $264 million in gross merchandise value. The company said it has been profitable and has had positive cash flow from operations since fiscal 2002.

2007 Financial Data

Total employees: 330 | Local employees: 65