Reibus International Inc. is the Blazer winner for the Logistics category of the Atlanta Inno Fire Awards, a program highlighting companies that showcase Atlanta's growth into a national tech hub.
Supply chain technology startup Reibus is the No. 2 fastest-growing company in metro Atlanta, according to the Atlanta Business Chronicle. It experienced 700% growth in 2021 and expects to achieve 500% growth this year, CEO John Armstrong said in April. Last year, Reibus recruited 100 employees. Reibus raised $75 million led by SoftBank Vision Fund at the end of 2021, pushing its valuation to $750 million at the time. The company is a marketplace for industrial materials companies.
Atlanta Inno talked to CEO John Armstrong about the company's growth.
How has your company navigated its operations during this current economic climate when investors are pulling back and some are making layoffs?
As a team, we are not getting distracted by things that are out of our control. We are leaning into finding new ways to create value for our customers. When you focus on the fundamentals and look for unmet customer needs, you create long-lasting, deeper relationships that will pay dividends down the road. Fortunately, we are financially strong and in a favorable position for continued growth without the need for additional funding. We continue to hire in a mindful way.
Based on your experience, what would be your best advice to up-and-coming or aspiring entrepreneurs?
Everything starts with your people and your culture. Your people will determine your success. Go to great lengths with your customers, especially your early customers, to make sure they are happy. As you grow, don’t forget the value of every customer and do right by them. And finally, don’t be afraid to fail. Fear is the worst enemy of the entrepreneur.
What are you doing to distinguish yourself from others in the same industry?
We challenge ourselves to do the right thing every time, especially when it’s hard. We embrace technology and data, but we don’t forget the importance of human expertise and relationships in our industry. We manage the transaction for buyers and sellers and take the hassle and complexity out of that transaction. We further add value to the customer by offering full services around the purchase and sale, including freight and financing services.
What was the toughest decision you ever had to make in order to accelerate growth for your company?
We’ve turned down investments and opportunities that would have accelerated growth, because those opportunities wouldn’t allow us to stay true to our values. Since we manage and make decisions through our values, those decisions weren’t really so difficult. If you put culture at the forefront of everything you do, tough decisions become much easier.
What’s next for your company?
We still see ourselves at the very earliest stages of our story. Our industry is global with a market opportunity in the trillions. We have no shortage of growth opportunities. This year, we established on-the-ground teams in Europe, and we will continue with our geographic expansion. We will also continue to broaden the product offerings we provide through our platform with new material types and additional services. We will continue to invest in our culture and our mission to make Reibus the best place for people to work.
This interview has been edited for clarity and conciseness.
