RB Global, Inc. is a global marketplace that connects buyers and sellers of commercial assets and vehicles. Operating primarily in the automotive, construction, and commercial transportation sectors, as well as in agriculture, energy, and natural resources, the company serves a diverse customer base that includes automotive insurance companies, end-users, dealers, fleet owners, and original equipment manufacturers. RB Global offers a variety of services such as transaction solutions, technology solutions for vehicle merchandising, lifecycle management of assets, and market data intelligence.
With a significant presence in the United States, Canada, and Europe, RB Global employs over 7,900 full-time employees. The company has expanded its capabilities through strategic acquisitions, including IAA, a global digital marketplace for vehicle buyers and sellers, and VeriTread, a transportation technology company. Its business model revolves around providing online marketplaces, auction sites, and value-added services like transportation and logistics, appraisal, inspection, refurbishing, and financial services. Additionally, RB Global offers data services, including market intelligence for construction equipment and vehicle valuation tools.
RB Global's growth strategy focuses on becoming the trusted global marketplace for transaction solutions, insights, and services for commercial assets and vehicles. This strategy includes a combination of organic growth, strategic acquisitions, and investments in technology and innovation to enhance the customer experience. The company generates revenue through service revenue, which includes commissions on sold assets, buyer fees, and marketplace services fees, as well as inventory sales revenue from the sale of assets owned by the company. Continue reading...
The company is committed to social and environmental responsibility, implementing air filtration systems and waste management practices, and promoting diversity, equity, and inclusion through employee resource networks. RB Global complies with various federal, provincial, state, and local laws and regulations worldwide, including those related to imports and exports, worker health and safety, and the use and disposal of environmentally sensitive materials.
In summary, RB Global operates as a comprehensive global auction and marketplace services provider, focusing on modernizing its technology and operations, fostering a culture of responsibility and respect, and expanding its market presence through strategic acquisitions.