“The coming year looks to be the most exciting yet. We’re launching the latest version of our site, and a new mobile app, will be opening up a US sister company in Manhattan, and rolling the platform out to Germany.
Brighton, East Sussex (PRWEB UK) 11 September 2015
In the past year, MPB has grown its revenue to £7.4 million, showing a year-on-year growth of 44%. While 40% of firms on the league table receive venture capital backing, MPB has achieved its growth to-date without taking any external equity funding and has been profitable since day one.
Founded in 2006 by then-22-year-old Matt Barker, MPB has grown from a one-man-band trading through eBay to a team of 27 imaging experts in Brighton quoting for £16 million worth of photo and video products annually through a sophisticated custom-designed technology platform.
MPB is now expanding internationally, with a european rollout of the trading platform beginning with Germany this autumn. A new office in Manhattan, home to the two largest independent photographic retailers in the world, opens soon ahead of a full US launch in January 2016. With a solid, scalable business model, revenue is expected to reach £47 million by 2019.
Matt Barker, Founder of MPB says: “The last year has seen great growth for MPB, with increased revenue , continued investment in technology, and a move into higher-end photo and video equipment such as Leica, and Hasselblad cameras, and Blackmagic and RED video equipment.
“The coming year looks to be the most exciting yet. We’re launching the latest version of our site, and a new mobile app, will be opening up a US sister company in Manhattan, and rolling the platform out to Germany — the first country in our move into the European market.
“We’re thrilled to receive recognition of how much our loyal customers value having an efficient, straightforward way of selling and buying used photo and video equipment online, avoiding the hassles that can come with traditional peer-to-peer online marketplaces”.
MPB is one of four Brighton tech companies in this year’s Sunday Times Hiscox Tech Track 100, featuring alongside Crunch Accounting, Brandwatch and Ideal Networks.
MPB is the Europe’s leading platform for trading high-end used photo and video equipment. Differentiating itself from other reCommerce sites, MPB builds its own technology and offers both buy and sell services through the same platform.
MPB is privately owned and was founded by economics graduate Matt Barker; it now employs 25 people at its Brighton HQ.
In the most recent financial year, the platform traded 22,000 products worth £7.4 million and provided 32,000 quotes with a combined value of £16 million.
A rapidly-growing tech business, MPB ranked in the 2014 Deloitte Technology Fast 500 and the 2015 Sunday Times Hiscox Tech Track 100 league tables.
About the Sunday Times Hiscox Tech Track 100
The Sunday Times Hiscox Tech Track 100 league table ranks Britain's 100 private tech (TMT) companies with the fastest-growing sales over the latest three years. 2015 is its 15th year of running.
A typical Tech Track 100 company:
- is generally owned and run by entrepreneurs.
- has between 20 and 200 staff.
- has average 3 year sales growth typically ranging from 40% pa to 300% pa.
- has sales ranging from £5M - £50M.
- Around 40% of the companies have venture capital backing.
Companies were ranked according to the compound annual growth rate in sales over three years, based on their latest available figures (either 2011 to 2014, or 2012 to 2015).
Annualised sales had to exceed £250,000 in the base year (2011 or 2012) and £5M in the latest year (2014 or 2015), with all companies required to have increased sales in the latest year.
The full league table can be found here:
For more information, and to arrange interviews, please contact:
Anna Burn / Vicki Hughes
t: 01273 327 514
e: anna(at)fugupr(dot)com / vicki(at)fugupr(dot)com