A letter from Moov's CEO: Building a customer-centric global marketplace

What does it mean to build a customer-centric global marketplace? This is a question we think about every day since we started Moov – and more immediately, a question we’ve sought to answer in our latest product updates. 

Background

• Sales on Moov’s marketplace more than tripled from 2020 to 2021, and accelerating.
• Gross merchandise value (active listings) has surpassed $3 billion. 
• In 2021, we raised $41 million, one of the largest funding rounds in Arizona, to further propel growth. 

Moov’s explosive growth comes at a time of hyper demand for chips and the equipment to fabricate them. Last month, Intel’s Pat Gelsinger hypothesized chip shortages could last through 2024. More and more, industry headlines proclaim equipment scarcity and delays are the bottleneck to chip production. 

Amid this explosive growth and unmet demand, we have thought a lot about Moov’s identity – who are we as a company and how can we add the most value possible to the semiconductor industry?

The simple answer is we are a technology company operating in the capital equipment supply chain space. 

First, we built a real-time, digital marketplace for pre-owned semiconductor manufacturing equipment. Then, we layered on an ecosystem of aftermarket services and digital tools, like real-time logistics tracking and virtual equipment inspections, to help customers manage the end-to-end procurement process. Now, we’re doubling down on improving the technology we’ve built to make enterprise-scale procurement and sales easy on our marketplace, from anywhere in the world.

What can customers expect?

Unified software tools for buying and selling 

When you buy or sell through Moov, we provide the tools to make that experience easier, at enterprise scale. With one centralized dashboard to manage procurement budgets, track desired inventory, list assets for sale, manage all transactions, access aftermarket services, and more, Moov is your digital hub for equipment resale and procurement. While our team of experts is available to fully manage your transaction should you choose,  we are also dedicated to improving the self-service asset procurement and management experience to be as simple, transparent, and efficient as possible. 

Global Expansion 

Moov is a global marketplace, but to date we’ve been admittedly a bit U.S.-centric. We’ve changed all that with 4 new dedicated global domains for our customers in different regions, starting with Asia. In addition to internationally optimized listings and native language sites, we’re also building out regionally specific customer support paths in order to offer the best customer support based on the unique predilections of our customers in different regions. With this concerted effort, roughly 70% of our transactions have buyers, sellers, or both originating from outside of the US.

Personalized experience 

Whether through the direct line customers will have to their dedicated account representatives through our new customer portal, or the data-driven asset recommendations customers will see based on their search history and inventory lists, we’re building personalization into the experience when you buy, sell, or manage equipment through Moov.  

We are just getting started

These are just some of the new and upcoming innovations we are excited to share, in addition to an elevated aesthetic to our marketing site, marketplace, and client portal, faster speeds, and a smarter search experience. As we continue to grow, we are  dedicated to the principles of building a more transparent, efficient, and reliable secondary market experience for semiconductor manufacturing equipment. And we’re just getting started.