Moov Technologies Inc.

60 E Rio Salado Pkwy
Tempe,  AZ  85281

United States
http://www.moov.co

• Booth: 255

Moov: the new way to buy & sell semiconductor equipment

Moov is a technology-driven marketplace and asset management platform that matches buyers and sellers of pre-owned semiconductor manufacturing equipment. Built by a team with more than 50 years of experience in the manufacturing equipment brokerage industry, Moov’s platform ensures accurate listings and faster transactions, with 24/7 customer support, integrated payments, logistics, asset management, and a growing ecosystem of aftermarket services. With over $3bn in active and available listings, Moov is the fastest growing global marketplace for pre-owned semiconductor manufacturing equipment, and is trusted by top global manufacturers for their capital equipment needs. 

CEO Steven Zhou and Managing Director Maxam Yeung co-founded the company in 2017. Moov is headquartered in Tempe, Arizona, and Austin, Texas, with a presence in San Francisco; Shanghai, China; and Taipei, Taiwan. To learn more, please visit Moov.co.

 Press Releases

• Moov Announces Real-Time Logistics Tracking and Virtual Equipment Inspections via Moov Portal (20220616)
  • Moov Portal offers customers real-time tracking and buying, selling and management tools.
  • Worldwide availability of digital inspections accelerates approval completion to mere hours, rather than weeks
  • Insurance on purchased equipment during transit brings unprecedented peace of mind to the traditionally opaque sector

  

  Moov Logistics Dashboard (Photo: Business Wire)

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  May 11, 2022 07:00 AM Eastern Daylight Time

  TEMPE, Ariz. & AUSTIN, Texas--(BUSINESS WIRE)--Moov, a data-fueled marketplace for used semiconductor manufacturing equipment, today announced its marketplace now serves as a one-stop shop for the second-hand buying experience, offering customers an ecosystem of aftermarket services including logistics and tracking, digital inspections, refurbishing and insurance all within one customer portal.

  “In one instance, it took us three weeks to get somebody onsite in Malaysia to verify tools. With the digital-inspection app, we have now cut that time period down to an hour. And, we’ve taken the burden off of suppliers of hosting inspectors.”

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  Moov customers now may opt in or out of services including real-time logistics tracking, insurance, the company’s purchase guarantee, refurbishment, spare parts, contracts and payment options. Customers utilizing the Moov platform include Applied Materials, Western Digital, Maxim Integrated, KLA and Microchip.

  To assist with end-to-end visibility, the newly launched Moov Portal empowers clients with real-time tracking of their equipment purchases in cargo categories such as location, temperature, humidity and light exposure.

  “Whether your cargo is on the back of a truck or in the middle of the Pacific, Moov provides our customers with purchased-equipment visibility during these times of supply-chain uncertainty,” said Raymond Mahon, Moov’s director of customer success and head of the company’s Austin office. “Our system provides transparency where there was none. Knowing exactly where and how your cargo is being transported is vital given the high-dollar value of the equipment we trade.”

  Insurance to Cover the Value of Equipment throughout the Supply Chain

  Moov has partnered with a network of best-in-class service providers to enable an ecosystem of aftermarket services. For example, Switzerland-headquartered global transport and logistics company Kuehne + Nagel International AG, the world’s largest freight forwarder, now offers Moov customers insurance through The Nacora Group, a Kuehne + Nagel subsidiary. The insurance covers 100% of the value of all equipment as it moves through the supply chain.

  “Unless equipment is already warehoused, used semiconductor equipment changes many hands in a single transaction,” Mahon said. “You need an engineer to de-install it, a rigger to remove it, a crater to package it and a freight forwarder to ship it. The insurance we are rolling out would cover the entire supply chain for our buyers regardless of whether they hire the vendor or if Moov subcontracts them.”

  Another example of a value added service Moov will now provide is remote digital inspection, via photographic verification. Moov customers can use digital-inspection to reduce equipment inspection time to a matter of hours instead of weeks anywhere in the world. This service conducts a 15-point fraud check on photograph metadata to ensure image authenticity.

  “In many areas, facilities simply aren’t letting outside vendors onsite due to COVID,” Mahon said. “In one instance, it took us three weeks to get somebody onsite in Malaysia to verify tools. With the digital-inspection app, we have now cut that time period down to an hour. And, we’ve taken the burden off of suppliers of hosting inspectors.”

  “We are trying to change the way used semiconductor equipment is transacted,” Mahon said. “We have an extremely inefficient marketplace with a lot of bad faith actors in it. We are making it safer, quicker, and easier to buy and sell used semiconductor equipment.”

  About Moov Technologies Inc.

  Headquartered in Tempe, Arizona, and Austin, Texas, Moov is a technology-driven marketplace and asset management platform that matches buyers and sellers of pre-owned semiconductor manufacturing equipment. Built by a team with more than 50 years of experience in the manufacturing equipment brokerage industry, Moov’s platform ensures accurate listings and faster transactions. CEO Steven Zhou and Managing Director Maxam Yeung co-founded the company in 2017. Moov employs about 50 people, and also boasts a presence in San Francisco; Shanghai, China; and Taipei, Taiwan. To learn more, please visit Moov.co.

  Contacts

  Treble
  Lindsly Penny
  moov@treblepr.com

• Moov Eliminates Purchase Risk for Used Equipment with Industry’s First Money-back Guarantee (20220616)
  • Company aims to eliminate risk in buying and selling in pre-owned semiconductor manufacturing equipment sector
  • Program will make used semiconductor equipment a viable option for manufacturers large and small
  • Moov transactions are the safest investments of a buyer’s money

  March 03, 2022 07:00 AM Eastern Standard Time

  TEMPE, Ariz. & AUSTIN, Texas--(BUSINESS WIRE)--Moov, a data-fueled marketplace for used semiconductor manufacturing equipment, today announced its “Money Back Guarantee” (‘MBG’) program. It is the industry’s first no-questions-asked, money-back-guarantee program that covers 91% of all listings on Moov’s platform, which currently lists roughly $1.5B of available assets and growing.

  “Traditionally the market has been flooded with resellers, or entities with remarketing agreements attached to end-users with extremely one-sided terms and conditions where if there are any issues with the equipment it isn’t their problem”

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  Moov’s guarantee program provides peace of mind during an especially turbulent time within the industry. Equipment shortages, particularly for older nodes, and wait times exceeding 16 months for new equipment mean more buyers than ever are looking for secondary-market options upon which they can rely.

  “In an industry plagued with bad actors, Moov is leading the way by effectively removing all risk for second-hand transactions — a decision that will likely expedite the growth of companies' used-equipment budgets within the broader $100 billion-a-year global spend on chip manufacturing equipment,” said Boyd Grubbs, CEO of Bridge Tronic Global, a California-headquartered provider of manufacturing equipment in the secondary market.

  Purchasers — be they end-users, equipment manufacturers or brokers — of Moov equipment who are unsatisfied after receiving it for any reason will be refunded by the company. Moov will return the equipment to its inventory.

  Moov is the first company in the sector to offer this type of guarantee, further solidifying its position as market leader in the pre-owned semiconductor manufacturing equipment industry. The new program augments Moov’s existing added services, insurance, tracking and supplier verification.

  “Risk is the No. 1 factor in purchasing equipment on the secondary market,” said Raymond Mahon, Moov’s director of customer success and head of the company’s Austin office. “Anyone who has been in this industry for even as little as a year has experienced purchasing six-figure equipment where key parts were missing, misrepresented or damaged before they reached their destination. A lack of standards, transparency and accountability has been pervasive in buying second-source equipment. It is probably the top barrier to a healthy secondary-equipment market.”

  Hearing complaints reflecting such experiences prompted Moov to develop the program. Even customers working with billion-dollar market-cap public companies have endured these kinds of disappointments.

  How the Guarantee Works

  Moov takes responsibility for the entire process of buying and selling second-source semiconductor equipment from purchase to delivery and return. It will encrypt applications to verify equipment prior to closing a transaction. In the unlikely event that faulty equipment slips by the verification process, Moov will refund the purchaser’s money — no questions asked. Moov also will tag that equipment with trackers, ensuring its safe arrival. Moov’s insurance will protect the buyer if an incident occurs while the equipment is in transit.

  This set of procedures is a stark departure from the pre-owned semiconductor equipment industry’s standard terms: 100% pre-payment, as-is, where-is and no warranty. Today, little accountability exists when equipment is not marketed accurately. Obtaining compensation of any sort is rare, regardless of how egregious the misrepresentation of equipment might be. That current inefficiency results in wasted capital expenditures totaling millions of dollars.

  MBG especially caters to end-users currently being forced onto the secondary market by original semiconductor equipment manufacturers’ long lead times on new equipment. End-user clients require equipment to perform immediately to expectations. They can’t afford to waste capital expenditures.

  The company hopes the one-of-its-kind policy ultimately will put an end to the common practice of industry players hiding behind sales-agreement terms and conditions, regardless of the equipment’s state. Executives at Moov expect the guarantee to permanently improve the manner in which the market currently operates.

  “Traditionally the market has been flooded with resellers, or entities with remarketing agreements attached to end-users with extremely one-sided terms and conditions where if there are any issues with the equipment it isn’t their problem,” Mahon said. “We fundamentally disagree with that premise, and aim to solidify our market leadership in trust.”

  About Moov Technologies Inc.

  Headquartered in Tempe, Arizona, and Austin, Texas, Moov is a technology-driven marketplace and asset management platform that matches buyers and sellers of pre-owned semiconductor manufacturing equipment. Built by a team with more than 50 years of experience in the manufacturing equipment brokerage industry, Moov’s platform ensures accurate listings and faster transactions. CEO Steven Zhou and Managing Director Maxam Yeung co-founded the company in 2017. Moov employs more than 50 people, and also boasts a presence in San Francisco; Shanghai, China; and Taipei, Taiwan. To learn more, please visit Moov.co.

  Contacts

  Treble
  Michael Kellner
  moov@treblepr.com

• Moov Closes $41M Series A Round Led by Tiger Global to Help Solve the Global Chip Shortage (20220616)
  • Oversubscribed Series A funding round led by Tiger Global; additional investors include Atreides Management, Valor Equity Partners, Avenir Growth Fund, and existing investors doubling down
  • The world’s first real-time B2B online marketplace for manufacturing equipment has over $1.5 billion in active and available listings
  • Company to fuel domestic and global expansion into China, South Korea, Taiwan, Japan and Europe, as well as make key executive hires

  

  Maxam Yeung, Co-founder and Managing Director of Moov and Steven Zhou, CEO and Co-founder of Moov. (Photo: Business Wire)

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  November 11, 2021 07:00 AM Eastern Standard Time

  TEMPE, Ariz.--(BUSINESS WIRE)--Moov, a data-fueled marketplace for used manufacturing equipment, today announced the close of a $41 million Series A funding round led by Tiger Global. Other notable investors joining the round are public semiconductor investor Gavin Baker of Atreides Management, Valor Equity Partners, Avenir Growth Fund and existing investors.

  “Moov has hundreds of buyers and sellers, yet there are still roughly 10 million factories globally with unmet equipment needs and surplus equipment for sale. We are confident Moov will become the #1 platform to buy, sell and manage all used equipment globally.”

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  The venture capital funding will be used to expand Moov’s domestic presence into other semiconductor hubs such as Austin and New York and their global presence in China, Taiwan, South Korea, Japan and Europe. They will also hire executives, invest in research and development, strategically purchase inventory and examine merger and acquisition strategies with other key industry players.

  During the ongoing global chip shortage, nearly 170 industries have slowed production because manufacturers cannot find the equipment needed to develop chips quickly enough. Moov has successfully structured and automated a real-time marketplace that connects buyers and sellers around the world along with offering additional services such as logistics, refurbishment, insurance, and asset management software. Beyond the near-term issues around the global chip shortage, Moov has built a marketplace that helps to drastically reduce electronic waste globally.

  Fueled by the chip shortage, the semiconductor equipment sales market is growing at levels never seen before and is set to reach $100B in 2022. Moov’s data indicates that the value of used equipment has more than doubled over the past year, and these numbers are expected to continue to grow as innovation and technology drive the market, doubling to around $200B per year within the next six to eight years. With close to $1.5 billion in active and available listings, Moov will play a pivotal role in shifting the global equipment purchasing mindset.

  “This round of funding will allow Moov to achieve critical mass and propel us to beyond $1 billion in gross merchandise value in the next several years,” said Steven Zhou, co-founder and CEO of Moov. “Moov has hundreds of buyers and sellers, yet there are still roughly 10 million factories globally with unmet equipment needs and surplus equipment for sale. We are confident Moov will become the #1 platform to buy, sell and manage all used equipment globally.”

  Investor Perspectives on Moov Series A Funding Round

  "The pandemic has highlighted the importance of the semiconductor supply chain, and exposed the existing inefficiency of connecting buyers and sellers of semiconductor manufacturing equipment,” said Griffin Schroeder, Partner, Tiger Global. "Moov’s efficient global marketplace is helping to solve this issue. With strong demand, a hungry and experienced management team, and a strong network of partners, we believe Moov is poised to become the global leader."

  “The chip and high-tech manufacturing ecosystem desperately needs Moov,” said Gavin Baker, Managing Partner and Chief Investment Officer at Atreides Management, a notable public markets investor, particularly in the semiconductor industry. “They are leading the shift to digital transformation in an outdated industry.”

  About Moov

  Headquartered in Tempe, Arizona, Moov is a technology-driven marketplace and asset management platform that matches buyers and sellers of pre-owned semiconductor manufacturing equipment. Built by a team with more than 60 years of experience in the manufacturing equipment brokerage industry, Moov’s platform ensures accurate listings and faster transactions. To learn more, please visit Moov.co.

  About Tiger Global Management

  Tiger Global Management is an investment firm focused on private and public companies in the internet, software, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Tiger Global's investments have included JD.com, UiPath, Stripe, Databricks, Bytedance, Snowflake, Facebook, Alibaba, Procore, Chime, Blend, Peloton, Attentive, LinkedIn, Flipkart, and Toast.

  

  Contacts

  Treble
  Lindsly Penny
  moov@treblepr.com