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Tradesparq Launches Social Search for Supply Chain at DEMO Spring 2012Industry's First Social Network-Based Sourcing Directory Poised to Disrupt Global Procurement Market (April 18, 2012)
SANTA CLARA, CA -- (Marketwire) -- 04/18/12 -- Tradesparq.com today launched its social sourcing platform, a search tool that allows buyers to quickly filter thousands of Chinese manufacturers down to a handful of qualified suppliers. The Tradesparq platform, which will be introduced at DEMO Spring 2012, allows B2B procurement professionals to use their online networks to quickly verify potential suppliers and reduce risk of importing products not meeting US standards.
Tradesparq's social sourcing platform works by allowing importers to upload their trade contacts, and then uses its proprietary search engine to match results from product searches to their contacts, down to second level connections. This lets buyers easily find and get references from others in their network who have previously worked with a supplier.
"Last year, the Chinese manufacturing market was valued at nearly $1.9 trillion, representing almost 20% of the worldwide total. Next year, China's manufacturing market is expected to grow at a rate of 14%, compared to 1.8% predicted growth of in the US," said Brian Hager, co-founder of Tradesparq. "As the Chinese market expands, buyers are demanding tools to help them effectively identify reputable, high-quality Chinese suppliers -- something traditional Web 1.0 sourcing directories don't provide. The Tradesparq platform represents the next-generation in procurement tools for today's modern buying organizations."
"Tradesparq is not only poised to disrupt the global B2B procurement market, but it is also ushering in a new era of social networking," said Matt Marshall, executive producer, DEMO. "I'm excited about the innovative ways Tradesparq is applying social search in a global business context, and I anticipate that this kind of social networking will be a permanent game-changer."
With growing concerns about the legitimacy of manufacturers and suppliers in Asia and a recent increase in complaints of fraud on B2B marketplaces, sourcing teams need the ability to leverage a network of contacts to mitigate risk when purchasing from China. Tradesparq also allows large purchasing organizations to leverage their existing relationships across industries and trade services such as logistics and factory inspection agents to make supplier discovery safer and more efficient.
Pricing and Availability:
Tradesparq utilizes a freemium revenue model where suppliers join for free but can upgrade to a premium membership for $17 per month. The premium package greatly enhances suppliers' chances of being contacted by buyers through increased exposure on the site, preferred search results and unlimited connections. In addition, the premium package includes analytic data on views to the suppliers' profile and individual product pages. Tradesparq is free to buyers and does not collect a transaction fee.
Produced by the IDG Enterprise events group, the worldwide DEMO conferences focus on emerging technologies and new products innovations, which are hand selected from across the spectrum of the technology marketplace. The DEMO conferences have earned their reputation for consistently identifying cutting-edge technologies and helping entrepreneurs secure venture funding and establish critical business. For more information on the DEMO conferences, visit http://www.demo.com/.
All product and company names herein may be trademarks of their registered owners.
Tradesparq.com utilizes a proprietary, Web 2.0 social networking technology to match volume buyers and manufacturers around the world. Tradesparq is the first B2B website to combine social networking tools with a product directory for global trade, allowing customized search results for each buyer with products ordered by relationship, and providing a more proactive marketing service for suppliers. It's social search-based network allows suppliers and buyers to connect with each other, import contacts, view product details, check references, and send real-time automatic product and service updates. For more information, visit www.tradesparq.com.
Nina R. Minney
Copyright @ Marketwire
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