Phil's Blogservations
Tuesday, November 08, 2005
Posted by philgomes 10:38 PM
A Milestone For BizXchange
A Milestone For BizXchange
A friend of mine back home, Chris Haddawy, is the SVP of business development at BizXchange. The company holds dual HQs in Seattle and the SF Bay Area. I met Chris and his wife, Tatiana, some years ago through a mutual friend, über-recruiter Carolyn.
I'm writing this 'cause I got a note from Chris today that BizXchange is now #16 out of the top 100 fastest-growing private companies in Washington state, according to the Puget Sound Business Journal (PDF). This would be due to the company's 375% revenue growth since it's founding three years ago — $293k to $1.39M — and customers like Southwest Airlines, 24-Hour Fitness, and a few major sports teams.
I realize these numbers might not necessarily impress the group of my readers who glibly throw around the eight-or-nine-figure sums commonly found in wire stories and business periodicals. Get past that. You really gotta hand it to the BizXchange crew for making a business out of barter; money out of microeconomies. Considering their take on brokered exchanges is between 6-7%, it's pretty easy to get a rough idea of the value of bartered goods and services that have changed hands among their members.
I know that, at least in the early days, getting folks to consider barter instead of cold-hard-cash must have been like running into the same inch-high curb over and over again. Clearly, businesses large and small are coming around.
So, respect goes out to Chris and team!
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