Company Reports 30% Revenue Growth Year Over Year
ATLANTA , April 28, 2022 /PRNewswire/ -- WorthPoint Corporation, the world's largest online resource for researching, valuing and preserving antiques, art and collectibles, announced today its business results for the first quarter of 2022, ending March 31, posting its 21st sequential quarter of revenue growth.
The firm saw revenue increase by 30 percent this quarter from Q1 2021, with its subscriber base growing another impressive 30 percent year over year.
"WorthPoint holds significant pricing power and value to customers, evident in our sustained revenue growth over this past quarter," said Will Seippel, CEO of WorthPoint. "WorthPoint's business flexibility is indicative of our price-insensitive products and services and the unique competitive advantage we maintain in the industry."
In Q1, WorthPoint prepared the official launch of its national educational campaign with the Salvation Army, implementing its database resources to assist Salvation Army employees and shoppers in identifying valuables for online resale. It also welcomed a new partnership with MaxSold, a leading estate sale marketplace based in Canada. WorthPoint plans to continue establishing impactful partnerships through 2022, aiming to expand value to partners and subscribers with new products and applications.
"In a time of growing economic uncertainty, we are on the verge of building and integrating our product lines and databases into an improved suite of tools, better-suited for meeting customer needs when they need it most," Seippel said. "We are moving into a very transformative phase for WorthPoint, advancing the capabilities of our archival, preservation and valuation tracking tools. By investing in our on-shore engineering and marketing teams, we look to optimize WorthPoint as an all-encompassing tool past just a comprehensive Price Guide."
This integration will include WorthPoint's soon-to-be-launched community tool, Live Lots, where users will see active listings on the site of live inventory available to purchase. Live Lots will work towards WorthPoint's mission to redefine the marketplace for buyers and sellers by increasing price transparency. WorthPoint currently has a calendar of events of interest to subscribers and will soon offer a resource board to help users explore a vast array of items, topics and services supporting their needs.
WorthPoint added more than 33 data sources to its comprehensive databases in Q1, expanding the sources the company actively collects pricing information from by more than 200 since 2020. WorthPoint introduced more than 15 million new items to its nationally-recognized Price Guide and supplemented nearly 8,000 items to its M.A.P.S. database. The number of Dictionary pages rapidly grew by approximately 800 articles to a total of 6,300 entries, while the number of reference books in its searchable Library expanded from 6,000 to more than 9,000 unique volumes.
About WorthPoint Corporation:
WorthPoint manages the largest online resource for researching, valuing and preserving antiques, art and collectibles. The company's suite of offerings on WorthPoint.com includes a Price Guide, a resource gallery of nearly 200,000 identifying Makers' Marks, Autographs, Patterns, Symbols (M.A.P.S.) and a digital Library with about 9,000 books about collectible topics.
Through data aggregated from online marketplaces, including eBay and leading auction houses, WorthPoint empowers the antiques and collectibles industry by providing a steady stream of new data each month, building on more than 626 million archived prices and nearly 1.3 billion images to improve pricing transparency for sellers and buyers. WorthPoint is headquartered in Atlanta, Ga., and has subscribers on six continents.
SOURCE WorthPoint Corporation
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