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MaterialNet.com
B2B online marketplace for industrial metals
About MaterialNet.com
MaterialNet.com operated as a business-to-business online marketplace designed for the procurement and sale of industrial metals. The company was founded in 1999 and established its headquarters in New York.
The platform's core business model was centered around a reverse-auction system, which was scalable to other raw material categories. This model aimed to provide value to both buyers and suppliers within the raw materials sector by ensuring a consistently available supply. The company's clients were businesses within the industrial metal and raw materials industries. It operated within the E-commerce and TMT (Technology, Media, and Telecom) verticals.
MaterialNet.com secured a seed round of $2.2 million in October 1999, followed by an Early Stage VC round in March 2000. Investors included MSC Industrial Supply, Nine Thirty Capital Management, and Wit Capital. The company was privately held and formerly backed by venture capital. In July 2002, MaterialNet.com was acquired by Perfect Commerce in a merger and acquisition deal.
Source: Dealroom company dataAt a glance
- Founded
- 1999
- Headquarters
- New York City, United States
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Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series A1 investor entered at this stage
Wit Capital
Source: Dealroom Talent Intelligence.
Global footprint
Market sentiment
An AI-synthesised read of the highest-engagement posts about MaterialNet.com on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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