The company's primary auction business continues to grow. But they are also moving into auctions of more exotic instruments and creating private-label auction sites for diverse clients. As of December, MuniAuction turned the corner and posted its first month of profitability. Revenue has doubled each of the past two years. The best thing that happened, Mr. Harrington believes, was their failed attempt at a second investment round.
Profit margins are too meager to generate sky-high returns for venture capitalists.
They retained autonomy to build their own way. We'll build this business by running flawless auctions. By using this site, you agree to our Terms of Use and Privacy Policy .