The board of directors of B2B agricultural marketplace iFarm Inc is actively seeking financial partners to buy a majority interest in the company and its Internet based technology platform AgLogics, according to a press release issued yesterday.
Chris Long, president and CEO of the Memphis, Tennessee-based iFarm, explained: “As part of an ongoing plan, the board has determined that iFarm has reached a point in its business development whereby it is a very valuable asset to strategic agribusiness investors.”
iFarm aims to deliver to its members the cost-benefits and time savings offered by B2B Internet access, and to do so provides a comprehensive, agricultural focused Internet portal for farmers, and an e-commerce operation with over 80,000 items for sale in its catalogue.
Its iFarmMarket operation positions itself as an online source for agricultural commodity marketing and information, and features the use of cooperative commodity marketing pools, market quotes and charting analysis. Other sections of the company include iFarmSupply, iFarmOffice, MyiFarm, and Agricultural News Service.
The board is also looking for investors in AgLogics, the independent Internet based technology platform for iFarm that Long explains “is cost effective, flexible and easily adaptable to uses in agribusiness as well as other industries.”
To visit the iFarm site, click here.