February, 2024- During his first weeks as CEO at metals marketplace Reibus International, Temy Mancusi-Ungaro was on the move. “I’ve been on a listening tour, meeting with customers in Chicago, Dallas and New York,” Mancusi-Ungaro explains. He also spent time with the Reibus product engineers at Atlanta headquarters and in Austin, Texas. Initially approached by one of the venture capital owners of Reibus, it was the tech company’s employees who ultimately sealed the deal for Mancusi-Ungaro. “The employees won me over. There is an incredible culture of curiosity that resonated with me,” recalls Mancusi-Ungaro, who took the helm in late November.

     Recent upgrades to the Reibus marketplace include a friendlier user interface. 

The listening tour supports this curiosity culture. “Reibus is a young company. We are continuing to adapt to the needs of our customers,” he says, referring to its 2018 founding by John Armstrong, who transitions to chairman of the board. “The metals industry is based on trust, so getting out to meet face to face with customers was important,” notes Mancusi-Ungaro. Reibus has a global client base, with customers in Europe and across North America.

SCALING THE BUSINESS

Key to success will be scaling the online marketplace with service centers that are willing to buy and sell metals through the Reibus platform. “Reibus is looking to optimize the metals supply chain. An anonymous marketplace is one way to improve the process,” says Mancusi-Ungaro. He’s referring to a series of industry challenges including market volatility, long lead times, inconsistent demand and illiquid inventory. “There’s not a lot of technology in the industry, so this is a great opportunity to grow something special. There is a generational shift going on in steel. I’m finding customers are willing to leverage technology to grow their business,” he reports. “The Reibus model of anonymity improves liquidity and eliminates counterparty risk for everyone,” he adds.

Mancusi-Ungaro brings to Reibus a reputation of scaling tech companies. He previously served as the CEO of Reachdesk, an online gift-giving portal to build deeper connections with customers and prospects. Under Mancusi-Ungaro’s two-year leadership, Reachdesk grew from 200 to more than 500 customers and over one million gift transactions annually.

“We are focused on adding more buyers and sellers to the marketplace. The more users, the more powerful the site becomes and the more matches are possible. So adoption is key,” explains Mancusi-Ungaro. He likens the power of marketplace to a time early in his tech career at IAC, which owned several marketplaces including . The more profiles posted to the online dating platform, the more choices were available for each user. “The more users, the better it got.”

       A popular aspect of the online metals buying and selling experience is Reibus Logistics, which features a curated network of carriers.

TACKLING TRANSPORTATION CHALLENGES

Integral to the online metals buying and selling experience is Reibus Logistics, which relies upon a curated network of carriers to transport materials. “At Reibus, we use logic to make sure suppliers get the right delivery service. We are focused specifically on the logistics needs of the metals industry,” says Mancusi-Ungaro. He indicates that a majority of Reibus Logistics customers are not currently marketplace customers and that fact represents another opportunity to scale the business. “Customers can go to Reibus Logistics to get real-time shipping costs and delivery quotes.”

Mancusi-Ungaro is looking to parlay his experience at Reachdesk to Reibus. A major function for that company was managing the logistics including international transactions. “We had to create a number of local networks to address a large global need,” he says. “Localizing the delivery of steel is similar. Steel doesn’t travel well or cost-effectively over long distances. So customers need a single platform that aggregates many local sites into one place.”

     TEMY MANCUSI-UNGARO, CEO 

ENHANCING THE USER INTERFACE

Tapping into customer needs is driving product design at Reibus. “We are applying our core values and culture of curiosity to gain a deeper understanding of the customer,” says Mancusi-Ungaro. “Our platform is our product, so Reibus is constantly upgrading to make it even easier for customers to buy or sell steel.” Recent upgrades to the Reibus marketplace include a friendlier user interface to streamline creating an RFQ and finding specific grades and forms of steel. Reibus just added a function allowing users to turn on or off inventory availability in a single click. “Customers can see when inventory might be running low and easily turn off the product listing.” This helps assure users that inventory posted to the site is actually available.

“We are prioritizing notifications and have put data into daily digests for customers to stay on top of order activity without overwhelming them with multiple alerts,” explains Mancusi-Ungaro. The Reibus team is also looking to expand the product offerings on the marketplace. “We have good coverage of a broad range of metals products and we continue to expand into more market spaces like the energy sector,” he reports.

BETTER MATCHING LOGIC

The company also just unveiled “a more robust matching logic,” says Mancusi-Ungaro. Built in house, the matching logic streamlines searches by incorporating “fuzzy” matches. “Although we are a technology company, we are more than 1s and 0s. We are about investing in people and building relationships.” At a time when industry inventory can average 60 days, Mancusi-Ungaro looks to drop this number significantly for users of the Reibus marketplace. “We don’t compete against service centers. They are our best users. Reibus can be an extension of their team not a replacement to help streamline the buying and selling aspect of their inventory,” says MancusiUngaro.

As he settles into his new role and Atlanta office, Mancusi-Ungaro feels right at home. “I love the steel industry. It’s a foundational business for our country. The material is tangible and long-lasting. It’s cool to be building new technologies for an old industry.”

Reibus International, 470/482-1820, reibus.com

 

 

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