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When Irwin Jacobs (one of the nation's most successful entrepreneurs) was 18 years old he dove into the closeout merchandise business when he bought and sold a pile of skis from the U.S. Customs Service. The skis had been seized due to unpaid customs duties. It was just the beginning...


1960's Irwin Jacobs got his start in the closeout business.

1968 JYJ Corporation was formed by Jacobs to run major liquidation events.

1973 Jacobs merges JYJ into COMB (Close-out Merchandise Buyers) and expands into mail-order and retail distribution to complement the JYJ wholesale business.

1984 Jacobs and his business partner took public their chain of COMB closeout stores. The stock soared and the company began hitting lists of the nation's fastest-growing small businesses.

1986 COMB and several cable television companies formed a joint venture, the Cable Value Network (CVN), to develop the concept of shopping by television. A year later, CVN had 14 million subscribers in 47 states. QVC, a television shopping company, later acquired CVN and COMB's retail store chain.

1989 Jacobs led a management buyout of the wholesale division of COMB to form Jacobs Trading Company. The company was headquartered in a newly restored office and warehouse location in Minneapolis' warehouse district.

1996 Jacobs Trading Company became the exclusive liquidator for a major retailer, handling the retailer's customer returns throughout the U.S. JTC also opens an additional processing/distribution center in Appleton, MN.

2001 Jacobs Trading Company expanded its operation and moved its headquarters to an office and warehouse facility located in Plymouth, Minnesota with multiple distribution centers located throughout the United States.

2009 Jacobs Trading Company expanded again and moved its headquarters to a 300,000 square foot office and warehouse facility located in Hopkins, Minnesota.

2011 Jacobs Trading was acquired by Liquidity Services, Inc. (NASDAQ: LQDT) which provides leading corporations, public sector agencies and buying customers the world's most transparent, innovative and effective online marketplaces and integrated services for surplus assets. Jacobs Trading is a natural complement to the Retail Supply Chain Group within Liquidity Services, enhancing its position as the leading reverse supply chain solution for Fortune 500 retailers and manufacturers of consumer goods.




 






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