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TradeOut.com gets $22 million in venture capital

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Ardsley, N.Y.--TradeOut.com, a Web site designed for businesses selling their surplus goods to other companies, announced Monday it has secured $22 million in venture capital from Benchmark Capital, eBay and Morgan Stanley Dean Witter. As part of the agreement, Meg Whitman, president-CEO of eBay, and Bill Gurley and David Beirne of Benchmark Capital will join TradeOut.com's board. "With a critical first-mover advantage and a superstar team behind it, TradeOut.com has the opportunity to lead b-to-b auctions like eBay did with the person-to-person market," Mr. Beirne said in a statement. The Greco Ethridge Group, New York, is the agency of record for TradeOut.com.
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