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The original thread Started By: HiSpeed
Date: Oct 26 1999 6:50PM
5151 McCrimmon Pkwy. Ste. 208
Morrisville, NC 27560 (Map)
Toll Free: 800-233-1121
Scientists bent on world domination can speed up their
plans by shopping online at SciQuest.com. The company
sells lab equipment over the Internet for academic,
biotechnology, chemical, clinical, industrial, and
pharmaceutical scientists. SciQuest.com offers access to
more than 550,000 products from more than 8,000
suppliers. Its Web sites allow purchasing managers and
suppliers to track orders and search for the best price
available at SciQuest.com or elsewhere. SciQuest also
provides suppliers' used and surplus equipment at a
discount and runs online auctions. Investors include Trinity
Ventures (12.4%), Bessemer Venture Partners (9.7%),
Noro-Moseley Partners (9.1%), and ABS Capital Partners
Chemdex | Fisher Scientific | VerticalNet
Deutsche Alex Brown
Hambrecht & Quist
This is an excerpt from their website:
SciQuest was created in November 1995 to leverage emerging Internet technologies to streamline the purchasing of scientific products. Scott Andrews, Bobby Feigler, Peyton Anderson, and Keith Gunter drew upon their years of sales and management experience to develop a comprehensive sourcing tool based on a powerful search engine and online database.
As sales professionals for Baxter Scientific Products, Andrews and Feigler witnessed almost daily the purchasing frustrations and wasted time and energy experienced by scientists and researchers. In addition to the hours spent probing paper catalogs, more valuable time slipped by requesting, receiving, and reviewing supplier, product, and availability information by phone and fax. Once compiled, a major order often involved several suppliers which meant more hassles and more time wasted. Nightmarish situations were common when scientists needed unusual or obscure products. Large orders for similar and interchangeable products could be lost to another supplier simply because a scientist didn't want to, or couldn't, wait on hold for a customer service rep.
Recognizing a critical need in the scientific products marketplace for the swift and accurate electronic exchange of product information, Andrews and Feigler joined forces with Anderson and Gunter to establish SciQuest.com. After taking a formal survey of their new web site's intended audience, the four founders knew they were on the right track. As evidenced by a run on SciQuest's booth at Pittcon in March 1996, pent-up demand for a better purchasing system was reaching critical mass.
In the first year, the two primary challenges for the founders were:
raise awareness with suppliers and
pinpoint the buying behaviors of their customers, especially pitfalls, time-wasters, and areas needing improvement.
Based on their research, SciQuest launched the online Buyer's Guide in June 1996 by offering a comprehensive sourcing database and the smart SciMail email system. Since launch, the site has refined itself and improved the buying process for thousands of scientists and researchers in the pharmaceutical, biotechnology, university, and industrial markets.
In early 1999, the company name was changed from SciQuest to SciQuest.com to more accurately reflect the founders' mission to leverage Internet technologies and streamline the purchasing of scientific merchandise. Also in early 1999 SciQuest.com launched its e-commerce marketplace and order processing systems.
The imagination of the four founders, their industry experience, and their solid business management skills have led SciQuest.com to its current position as the one-stop Internet source for scientific products.
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