Winner Take All Building a True Market Network For The Chemical Industry - BluePallet CEO Scott Barrows
Scott Barrows jumps on Winner Take All to discuss his chemical market network startup, BluePallet, coming out of stealth to launch its online marketplace backed by The National Association of Chemical Distributors (NACD). Scott and Alex discuss BluePallet's formation, a merger between echosystem and B2B FinTech engine Velloci, and securing BluePallet's seed funding. Also discussed, how BluePallet was able to partner with the NACD while other marketplaces got turned down, BluePallet's unique platform business model, and why the chemical industry requires a bespoke platform solution.
Originally Aired: 05/26/21
#Chemicals #BluePallet #Startups
CHICAGO--(BUSINESS WIRE)--BluePallet, a digital marketplace built with the support of The National Association of Chemical Distributors (NACD) and backed by major industry players, today announced it has exited stealth mode.
The online market network was built by the same founders who built the e-commerce platform used by LiveNation and the NFL for ticket reselling. Set to transform the chemical industry, BluePallet is an exclusive strategic partner of the NACD through 2024, the industry’s leading trade organization.
“BluePallet (formerly known as EchoSystem) has been an invaluable strategic partner to NACD,” said Eric R. Byer, NACD’s President and CEO. “BluePallet understands that in order to advance the chemical distribution industry, we must look toward a digital future. As we celebrate NACD’s 50th Anniversary of serving chemical distributors and the supply chain, we are proud to continue partnering with an organization that creates e-commerce solutions which are custom-built for the future of our industry.”
The United States is one of the world’s largest producers of chemical products, representing nearly $1 trillion in chemical shipments annually. But the industry has lagged others in digital commerce, instead relying on more traditional methods such as sales teams.
About BluePallet:
BluePallet is the world’s first market network that gives verified industrial buyers and sellers control over their supply chain. Built with the support and advice of the NACD [National Association of Chemical Distributors] and its 400-plus member and affiliate companies, BluePallet was formed through a merger between Velloci, a consumer-oriented FinTech platform adapted to the B2B FinTech ecosystem, and EchoSystem, a chemical marketplace founded in 2017 and based on the platform founded by Scott Barrows and now employed by Ticketmaster, Live Nation, and the NFL.