What is a private marketplace?
A private marketplace or on-line exchange is typically a website that connects buyers and sellers together to buy, sell and trade products and services. Unlike a public B2B exchange (think Amazon Business or Alibaba), a private exchange is offered to a focused, qualified or invited set of participants. Sometimes these exchanges are hosted by industry consortiums allowing access to industry participants (e.g., HVAC or Plumbing industry exchanges that allow suppliers, distributors, installers, etc. to buy, sell and trade products, surplus supplies, used items, and services). Private exchanges may also be hosted by a single company looking to offer additional value to their customers.
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