MPB Group Limited
| Formation | 2011 |
|---|---|
| Founder | Matt Barker (CEO) |
| Type | Limited company |
| Headquarters | Brighton, UK
Brooklyn, US Berlin, Germany |
| Services | E-commerce |
Key people | Frank Sullivan (COO)
Kat Mitchell (CRO) Scott Ryan (CFO) Sophie Collins (CMO) Sophie Davies-Patrick (CTO) |
Staff | 225 |
| Website | mpb.com |
MPB Group Limited, also known as MPB, is a UK company that sells used photography and video equipment and some new items, such as camera kit accessories via its website. Established in the United Kingdom in 2011, its head office is in Brighton (UK), with international operations in Brooklyn and Berlin. It resells 300,000 pieces of equipment a year, producing an expected revenue of £100 million ($139 million) in 2021.[1] As of 2021[update] the company sells and trades in 115 brands, including Canon, Nikon, Panasonic, Olympus, and Sony.
History
In 2006 the company's founder Matt Barker began buying used SLR cameras and selling the lenses and bodies separately on eBay.[2][3] Having noticed a lack of affordable camera equipment on the market he founded the company in 2011 in Brighton[4] to buy, renovate, and recirculate previously owned kit.[5] The following year the company was listed in the Deloitte Technology Fast 500, and again in 2013.[6] By the end of 2015, MPB had a revenue of £7.4 million - a reported growth of 44%.[7]
On July 17, 2019, MPB secured £9 million in funding to accelerate its international expansion[8]. The Series C funding round was led by venture capital firm Acton Capital, with participation from its existing investors, Mobeus Equity Partners and Beringea. Mobeus had previously backed MPB through the company’s series A, B and C funding rounds[9].
With the new capital, Barker opened an MPB operational centre in Brooklyn, US, in November 2019[10]. By the end of 2019, MPB had secured a community of 135,000 active users[11]. In September 2020, active users had risen to 175,000[12], then went up again to 250,000 by April 2021[13].
The Sunday Times Tech Track 100 league table has listed MPB three times: in 2015, 2019 and 2020[14][15][16]. Later on, in November 2020, the Growing Business Awards placed MPB as the Mid-Sized Growing Business of the Year[17].
Shortly after opening the operational centre in Brooklyn, US, MPB used the Series C funding to open the third headquarters in Berlin, August 2020[18].
In early 2021, Barker announced intentions to apply for a fourth round of funding. As noted by TechCrunch:
The Series D is being led by Vitruvian Partners, with significant participation from Acton Capital; Mobeus Equity Partners, Beringea and FJ Labs also participating.[19]
In April 2021, MPB raised a total investment of £49.8 million ($69 million).
Currently, MPB employs over 225 worldwide, with 130 based in the UK[20].
References
- ↑ "Brighton-based MPB snaps up $69M to build out its used camera equipment marketplace". TechCrunch. Retrieved 2021-06-24.
- ↑ "Tech firm named one of UK's fastest for growth". The Argus. Retrieved 2021-06-24.
- ↑ Schutte, Shan (2016-03-03). "mpb.com: Disrupting the way people buy and sell used photo equipment". Retrieved 2021-06-24.
- ↑ "Brighton-based MPB raises £49.8M for its second-hand photo and video kit marketplace". UKTN (UK Tech News). 2021-04-06. Retrieved 2021-06-24.
- ↑ Barker, Matt (1 March 2017). "Five questions with Matt Barker from MPB". Spectrum Photographic (Interview). Interviewed by Hazel Watts. Retrieved 2021-06-24.
- ↑ "Previous winners". UK Technology Fast 50. Retrieved 2021-06-24.
- ↑ "MPB debuts on 2015 Sunday Times Hiscox Tech Track 100". PRWeb. Retrieved 2021-06-24.
- ↑ "MPB secures £9m Series C to accelerate international expansion". Mobeus. Retrieved 2021-06-24.
- ↑ Loritz, Mary (2019-07-15). "Brighton-based MPB raises €10 million for its second-hand photo and film equipment marketplace". EU-Startups. Retrieved 2021-06-24.
- ↑ March 06, Mariah Brown; AM, 2020 at 05:00. "Sunset Park's Industry City Becomes Media Company Hotbed". GlobeSt. Retrieved 2021-06-24.
- ↑ "MPB secures £9m Series C to accelerate international expansion". Mobeus. Retrieved 2021-06-24.
- ↑ TWK. "Fast Track". Fast Track. Retrieved 2021-06-24.
- ↑ Frost, Maisha (2021-04-07). "MPB secures £50m funding as photography fans find used kit is picture perfect". Express.co.uk. Retrieved 2021-06-24.
- ↑ "Used specialist MPB ranks high in Sunday Times tech list". Amateur Photographer. 2020-09-10. Retrieved 2021-06-24.
- ↑ TWK. "Fast Track". Fast Track. Retrieved 2021-06-24.
- ↑ "MPB debuts on 2015 Sunday Times Hiscox Tech Track 100". PRWeb. Retrieved 2021-06-24.
- ↑ "Winners | Growing Business Summit 2019". growingbusinessawards.co.uk. Retrieved 2021-06-24.
- ↑ Loritz, Mary (2019-07-15). "Brighton-based MPB raises €10 million for its second-hand photo and film equipment marketplace". EU-Startups. Retrieved 2021-06-24.
- ↑ "Brighton-based MPB snaps up $69M to build out its used camera equipment marketplace". TechCrunch. Retrieved 2021-06-24.
- ↑ Frost, Maisha (2021-04-07). "MPB secures £50m funding as photography fans find used kit is picture perfect". Express.co.uk. Retrieved 2021-06-24.
External links
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