Bill Angrick, a Notre Dame graduate from the class of 1990, spoke as a part of the “Boardroom Insights” lecture series put on by the Mendoza College of Business.
Angrick is the CEO of Liquidity Services Inc., a multimillion dollar company that specializes in the buying and selling of excess materials between businesses.
The lecture walked the audience through the various stages of growth of Liquidity Services, while also offering valuable pieces of advice on how to build a thriving company.
Angrick said in the beginning, his goal was to “provide clients and buying customers the world’s most transparent, innovative, and effective online marketplaces and integrated services for surplus assets … An eBay from business to business.”
After raising capital from clients and venture capitalists, the company began to expand into buying and selling products from various sectors, Angrick said. He said he credits this growth to the “network effect.”
“More supply leads to more relevant listings for buyers, which leads to more buyers. More buyers leads to more transactions, meaning better results for sellers, thus creating more sellers, which circles back to more supply,” Angrick said.