Jason Fu

  • Toolots Hosts Textile Executives to Discuss Global Manufacturing

    Toolots CEO Jason Fu (right) with Vice CEO XiaoLiong Li (left).

    Toolots recently hosted executives from the China Hi-Tech Group Corporation, a Chinese textile manufacturing company, for in depth talks regarding global manufacturing and trade.

    CERRITOS, California- December 5, 2017- Toolots, an online platform and marketplace for factory-direct industrial tools, machinery, and supply, hosted esteemed guests from the China Hi-Tech Group Corporation (CHTC) on November 29th.  The purpose of their visit was to discuss international trade, the textile industry, and how Toolots’ innovative business model can streamline global e-commerce.

    According to the National Council of Textile Organizations (NCTO) the U.S. textile industry employed over half a million workers, and had an overall value of $74.4 billion in shipments in 2016.  The same year, the U.S. exported roughly $26.3 billion and globally was the forth largest exporter of textile products.   Of these countries, China was the third largest export market for the U.S. totaling $1.8 billion, including Macau and Hong Kong.  China Energy Group, the Energy Analysis and Environmental Impacts Division of the U.S. Department of Energy, found China supplies the world with 40% of its textile and clothing products, therefore ranking it as the #1 exporter of textiles in the world.  Furthermore, with over 24,000 enterprises in China operating in textile and apparel manufacturing and supply, the textile industry is the largest manufacturing industry in the country.

    Toolots and CHTC Executives examine products from Toolots' showroom in Cerritos, CA.

    One of the largest textile enterprises in China is the CHTC which employs over 60,000 workers, has 23 direct subsidiaries, operates in 20 provinces in China, and has additional offices in over 20 countries and regions.  Founded in 1998 under supervision of the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC), the CHTC focuses on the production of textile machinery, commercial vehicles, and textile materials and trade.  As one of the company’s six business units, CHTC’s fiber material subdivision is currently focusing on the development of high-tech, environmentally friendly fibers to be used in a variety of industries.

    Toolots Executives give CHTC executives a tour of their headquarters and warehouse.

    CHTC’s meeting with Toolots first began with a tour of their Cerritos headquarters, including the company’s 128,000 square foot warehouse, showroom, and office.  With over 17 years of experience in industry supply through sister company Bolton Tools, Toolots CEO and Founder Jason Fu discussed the company’s desire strives to promote cross-border e-commerce between the U.S. and China.  As one component of the business model, Fu explained, Toolots helps U.S. manufacturing companies establish a brand in China while also helping Chinese manufacturers create a brand in the U.S. as well.  An example of this can be found in Himalia, the legally registered U.S. entity of Haida, which created a brand of plastic injection molding machines tailored to fit U.S. manufacturers’ technical specifications and needs.

    Toolots and CHTC during their open discussions regarding global commerce and the textile industry.

    CHTC and Toolots executives then began open discussions regarding the state of global manufacturing, and the possibility for future partnerships to improve global commerce. Fu discussed how digital marketing, social media, and email marketing strategies can be used in the global manufacturing community to increase brand awareness and drive sales for manufacturing companies.  He explained that smaller manufacturing companies often are used to traditional sales through word of mouth or brick and mortar establishments.  Conversely, SMEs familiar with digital marketing often don’t have the budget for it after paying overheard costs.  Fu then highlighted several components of Toolots’ comprehensive services like adwords, advertising, and YuuTool, that make the company unique and offer partnered SMEs access to affordable solutions.

     

    About Toolots

    Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and manufacturing technology. Our user-friendly platform provides fast, easy access to high-quality, affordable equipment for manufacturers. More than a simple distribution channel, Toolots provides comprehensive services for companies around the world who produce the industrial machinery and equipment we sell, helping streamline the marketing, omni-channel sales, warehousing, fulfillment and after-sales service. On the customer end, Toolots simplifies the purchase, delivery, installation and warranty of industrial technology, machinery and components, and upholds product quality through a vetted network of vendors and service technicians. The company’s dedication to fostering international trade relations passes on cost savings to the consumer, contributes to reduced downtime, improves productivity and expands a manufacturer’s reach. Toolots has strategically located warehouses, showrooms, and offices across the United States, China and as of May 2017, has expanded into Taiwan. For more information visit us online at www.toolots.com.

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  • Toolots Announces $1 Million Lifetime Sales Milestone 

    CERRITOS, California- October 11, 2017- Toolots, an online marketplace and international cross-border platform for factory-direct industrial tools, machinery, equipment, and technology, announced it recently achieved $1 million in lifetime sales.  

    Headquartered in Cerritos California, the company was originally founded in May 2016 by CEO Jason Fu, who has 17 years of industry experience through his machinery supply company Bolton Tools. Through its innovative platform, Toolots aims to bolster the global manufacturing industry by helping SMEs overcome barriers, expand their businesses, and generate more revenue. 

    This is accomplished through Toolots' scalable, comprehensive services and ERP system currently being finalized. Vendors who partner with the company maintain their branding rights usually lost in traditional distribution models. In addition, vendor partners gain access to data allowing them to make transparent decisions and focus on daily operation tasks or overall business growth. Essentially, Toolots' model offers its customers quality equipment at competitive prices, thereby manufacturing SMEs to focus these funds on additional employees or services. Furthermore, the issue of after-sales services for purchased machinery and equipment, which often serves as a major concern to customers, is resolved through the company's network of service technicians on its YuuTool  repair app. 

    With the achievement of $1 million in lifetime sales, Toolots strives to support SMEs to strengthen cross-border relations and aid in the growth of the global manufacturing industry. 

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  • Toolots Announces Its First Pharmaceutical Packaging Equipment Vendor

    SHENGYANG, Liaoning-September 21, 2017 -Toolots CEO Jason Fu met with Bi Chunguang, the president of Liaoning Chunguang Pharmaceutical Equipment Co., Ltd., at Qibaoshan Hotel in Sheyang Province on Thursday, to discuss business opportunities.  

    Liaoning Chunguang Pharmaceutical Equipment Co., Ltd. is an award-winning manufacturer of packaging machinery, pharmaceutical machinery, and other equipment in Liaoning Province. They are a trusted brand of equipment used widely among manufacturers in the pharmaceutical, food, cosmetic, and household chemical industries. The company has five main product lines: liquid blowing potting automatic molding filling machinery, blister packaging machinery, automatic cartoning machinery, and automatic production line equipment, totaling more than 20 models overall. In addition to being a leading packaging machinery company in China, the company also exports to more than 60 countries in Southeast Asia and Europe. Customers include many well-known pharmaceutical companies in China, including Yunnan Baiyao, Tongrentang, Harbin Pharmaceutical Group, and Tasly Pharmaceutical. 

    Chunguang mentioned that the pharmaceutical packaging industry in the US lags behind that of several other top economies like Germany, but that means room for improvement and therefore great opportunity. 

    Toolots CEO Jason Fu (right) with Bi Chunguang of Liaoning Chunguang Pharmaceutical Equipment Co., one of the industrial suppliers slated to expand into U.S. exports using Toolots.

    "To me this represents a collaborative effort, not only in regards to sales, but also in terms of development strategy for mutual growth," said Chunguang during the meeting. He also embraced Toolots' product display center concept in California, where flagship products are shown to prospective U.S. customers hoping to familiarize themselves with various product lines. Chunguang will be the first vendor to sell pharmaceutical packaging machinery on the platform. The machines manufactured by Chunguang will be vital to U.S. SMEs seeking to seal and protect their products from contamination or exposure during processes such as distribution, storage, and sale prior to their use. However, Chunguang's packaging machines also allow businesses to reduce their labor, improve productivity, and protect their workers from handling materials that may be hazardous or adversely affect their health.  

    Toolots will hold its Second Annual China-US Manufacturing Exchange Summit in China from November 12-14, 2017, to which Chunguang is invited, along with several other medical equipment manufacturing companies from China and the U.S. For additional information on the Summit, or to RSVP, visit our Eventbrite page here. 

    To view a Chinese version of this article, please click here.

  • Toolots Attends Roundtable in Jilin, China to Discuss the Global Manufacturing Market

    September 2017-Subsequent to Zhejiang, Jiangsu, Shandong, Guangdong, Sichuan, Beijing, Shanghai, Taiwan, Anhui and Hebei, the Toolots has continued its market expansion of merchant vendors in Northeast China. On September 20th, Toolots' Chief Executive Officer Jason Fu and Executive Advisor Dr. Peter Wei attended a business roundtable with their China team at the Shangri-La Hotel in Changchun City. The purpose of the event was to conduct exploratory market research along with a symposium on the topic of how Toolots, as a pioneering cross-border e-commerce company, can lead the small to mid-sized manufacturing enterprises (SMEs) into the global market. Toolots' unique cross-border platform mutually allows the opportunity for Chinese manufacturers to enter into the U.S. market, and also allows U.S. manufacturers the opportunity to enter into the Chinese market. 

    Attendees of the event included major stakeholders such as Deputy Governor of Jilin Province JinYuhui, top officials of Jilin’s Government, in addition to several key manufacturing enterprises in Changchun City. 

    Scene at the symposium.

    Additionally, several top officials the city's correlational government departments in attendance included: Lihua Huang, Deputy Director of the Provincial Office of Foreign Affairs; Yugang Gong, Deputy Director of the Office of the Ministry of Industry and Commerce; Guohua Sun, Deputy Director of the Provincial Department of Commerce; Yong Xu, Deputy Director of the Provincial Economic and Trade Bureau Office, Zhijian Liu, Division Chief of the Provincial Department of U.S. and Europe; Chengjun Tian, Division Chief of the Provincial Department of the U.S. Commerce; Wei Wang, Division Chief of the Provincial Department of Foreign Trade; and Peng Gao, the Division Chief of Provincial Department of the Economic and Trade Bureau. 

    The symposium was presided over by Ms. Lihua Huang, the Deputy Director of Jilin Provincial Foreign Affairs Office. At the beginning of the meeting, Ms. Huang expressed a sincere welcome to the Toolots team:   

    "The Jilin Provincial Government views the arrival of your company as highly important [due to the fact that] we’ve heard Toolots is a well-known cross-border e-commerce platform in the United States, and that the company has made numerous beneficial endeavors in the aspect of constructing a cross-border e-commerce platform for industrial equipment between China and U.S. Through this meeting, we are looking forward to gaining some valuable insights and recommendations from Toolots for our forthcoming cooperation, as well as deepening the understanding of the manufacturing industry in Jilin. [We] hope that Toolots will assist our manufacturing industry to capitalize on the development of the growing U.S. market." 

    Deputy Director of Jilin Provincial Foreign Affairs Ms. Lihua Huang (middle) greets Toolots CEO Jason Fu (left)and the Board Advisor Peter Wei (right).

    Deputy Director of Jilin Provincial Foreign Affairs Office Ms. Lihua Huang, presiding at the symposium.

    Following roundtable discussion, Mr. Jason Fu provided a detailed introduction to the attending governmental officials regarding three aspects of the company: the positioning of Toolots platform, the innovation of the platform, and how Toolots will develop and advance its next five-year plan through cooperating with and growing the local manufacturing industry. 

    Jason Fu stated:  

    "We have 17 years of accumulated market penetration and experience, and when the shareconomy emerged in 2015 we were able to predict our ability to help SMEs by sharing our resources, including our pre-established market, customers, after-sales services, and more. The trade market between China and U.S. for consumer goods has already been saturated. However in recent years, there continues to be a 650 billion-dollar U.S. market for industrial products imported from China. Nearly 90% of this value is actually made by factories in China that are set up by foreign countries and regions in the world. The portion made by native China manufacturing factories is stills mall, yet to those native China manufacturing factories, this is a potential billion-dollar blue ocean market”. 

    Toolots CEO Jason Fu (middle) gives an introduction about Toolots to the correlational governmental department officials in Jilin. 

    With the revitalization and resurgence of the U.S. manufacturing industry, Chinese industrial supply companies have the opportunity to simultaneously enter the U.S. market and assist in the growth of global manufacturing by providing SMEs with quality equipment at competitive prices. As a vertical e-commerce online platform focused on industrial equipment and manufacturing, Toolots has consistently been devoted streamlining global trade and e-commerce through the expansion of its big data system. With its innovative business model, the company has shared numerous resources and services on its platform with partnered vendors including omni-channel marketing, warehousing and logistics, operational management plans, and more. Toolots continues to develop its shared economic platform through VF (virtual firm) technology, thereby allowing them to provide various shareconomy services including e-accounting, e-register, e-insurance, e-finance, in addition to other shareconomy services. 

    In traditional distribution models, distributors maximize their own benefits and distribution rights despite the vendors’ interests. However, Toolots provides a unique cross-border e-commerce platform using a global shareconomy method to eliminate these profit-blockers and maximize the benefits for partnered vendors. 

    During the symposium, the Director of the Foreign Trade Department of the Jilin Provincial Department of Commerce Mr. Wei Wang stated that for the past two years, Jilin Province has been strongly promoting the development of cross-border e-commerce business, in four aspects:  

    First is to encourage current enterprises to fortify their business through cross-border e-commerce; Second is to have the enterprises that lack the experience in foreign trade to utilize cross-border e-commerce platforms for entering international markets; Third is to use cross-border e-commerce to attract and bring back any enterprises that have left Jilin for other provinces; Fourth is to attract foreign enterprises to Jilin for participating in their business development on cross-border e-commerce. 

    Deputy director of the Office of the Ministry of Industry of Jilin Province Yugang Gong inquired about the Toolots after-sales system during the symposium.

    Jason Fu indicated that currently, the most applicable method for the cooperation of Toolots and the Province of Jilin is to establish model enterprises.  Toolots can start by choosing 2-3 products fields filled in Jilin, then cultivate 5-10 model enterprises. These model enterprises can then be used as sample cases in the following promotional stage in Jilin to directly promote a wider range of enterprises within the city.  

    The Deputy Director of the Jilin Provincial Economic and Trade Bureau Yong Xu, showed immense interest in Toolots’ role in the future China-U.S. Industrial Park project. Essentially the industrial park will allow U.S. manufacturing SMEs to establish satellite offices, corporate branches, or manufacturing facilities within the city of Jilin to take advantage of a variety of benefits including distribution, market expansion, and more. The park will also provide a myriad of benefits for the city of Jilin ranging from increased jobs, strengthening relations within the global manufacturing community, and many more.  

    After the meeting, the Deputy Governor of Jilin Province YuhuiJin, who oversees industrial businesses, as well as the top officials from the correlational governmental departments, hosted a luncheon for attendees including the Toolots team. The Governor warmly welcomed the participants event, and thanked them for their attendance before giving a full affirmation of Toolots’ business model. He concluded the event for the day by stating the provincial government would offer and provide their support for U.S. SMEs seeking to conduct business in Jilian, and cited Toolots as a pioneer company aiding manufacturing SMEs in their development and expansion. 

    Deputy Governor of Jilin Province YuhuiJin (right) in discussion with Toolots CEO Jason Fu (left).

    In Jilin, automobile manufacturing is its representative industry. The picture shows the Deputy Governor of Jilin Province YuhuiJin (right) offering a model car as the present for CEO of Toolots Jason Fu (left).

    Group photo of the Jilin Province Governmental top officials and the Toolots team.

    A Chinese version of this article is available here.

  • Toolots Hosts Distinguished Guests at US-China Manufacturing Delegation

    Xiuzhou Economic Development Delegation from Jiaxing, China visits Toolots and local SMEs

    Tenghui Guo, Executive Deputy Governor of Jiaxing, giving open remarks to attendees.

    CERRITOS, Calif – August 17, 2017 – Toolots was honored to receive over 40 prestigious guests Tuesday for an exclusive US-China Manufacturing Delegation held at its’ headquarters. The event aimed to gather US and Chinese government officials with expertise and experience in the manufacturing industry with local US manufacturers to discuss the importance of bridging the gap between the Pacific, how to improve trade relations, and the future of the industry as a whole. Attendees were given the unique opportunity to ask delegates questions regarding the industry and the importance of California and the Xiuzhou District.

    The event began with with remarks by Toolots Founder Jason Fu and the Executive Deputy Governor of Jiaxing Tengui Guo, who stressed the importance of strong trade relations to streamline industrial commerce between the United States and China. Cerritos Mayor Grace Hu then delivered a proclamation certificate to Guo, to thank the delegation for choosing the city of Cerritos and its’ businesses to begin strengthening relations.

    “California is open for business [and happy to] support our residents here within the district” Adam Galia, a District Representative for California State Senator Tony Mendoza, stated. Galia then presented the delegation with a certificate on behalf of the Senator for the 32nd District. “[We] commend your contributions to this form of helping  American businesses in advancing and improving relations between our two countries” Galia read, verbatim, from the certificate.

    Lisa Zhou, President of the Chinese CEO Organization, followed Galia by presenting a certificate of recognition for contributions to the development of the Chinese-American business community, noting the Xiuzhou Economic Development Delegation’s commitment to improving trade relations. Desmond E. Thompson, Vice Chairman of the Board for the Cerritos Regional Chamber of Commerce, then discussed China’s role in international trade with the US. With over $600 billion in total trade with China in 2016, the Vice Chairman was thrilled that Toolots and the Delegation chose Cerritos as their headquarters and event location. “Toolots [is] helping expand the local opportunities for all businesses to play a role in this significant source of trade,” said Thompson.

    Vice Chairman of the Board for the Cerritos Regional Chamber of Commerce, Desmond E. Thompson, discusses US-Chinese trade and the potential benefits for local SMEs.

    Toolots Chief Technology Officer, Bill Andreozzi then took the stage to provide guests an introduction to Toolots’ unique platform. Briefly, Andreozzi explained Toolots’ vertical approach to the market, and how after-sale services can disrupt traditional eCommerce models. The event concluded with an industrial equipment cross-border eCommerce platform signing ceremony, a group photo, and a networking luncheon.

    Representatives from the Xiuzhou Economic Development Delegation from Jiaxing, China (嘉兴市秀洲区经贸考察团) included:

    • Tenghui Guo: Executive Deputy Governor, People's Government of Xiuzhou District, Jiaxing City
    • Chunfu Dong: Deputy Director, People's Republic of Xiuzhou District, Jiaxing City
    • Xihua Xu: Director, Jiaxing Xiuzhou Bureau of Economy & Commerce
    • Jianzhong Du: Deputy Director, Development and Reform Bureau of Xiuzhou District, Jiaxing City
    • Yong Qian: Director, Bureau of Economic Development & Statistics, Jiaxing Xiuzhou National Industrial Development Zone
    • Yanqin Ma: Project Manager of Service Investment Bureau, Jiaxing Xiuzhou National Industrial Development Zone (interpreter)

    According to the Chinese government officials who attended, California’s role in global commerce is imperative. International contributions through trade and investment will provide significant benefits to the manufacturing community,extending beyond American businesses and their employees to assist the communities they operate in as a whole.  

    Group photo of attendees of the US-China Manufacturing Delegation hosted by Toolots at their Cerritos, CA headquarters.

    “Xiuzhou can help American companies to develop their businesses,” said Guo, Executive Deputy Government for the People’s Government of Xiuzhou in Jiaxing City. Guo was one of six members of the delegation who traveled to Toolots Cerritos headquarters for the event. He further added that the Chinese government wants to reinforce its national manufacturing reach by solidifying strategic partnerships with esteemed foreign manufacturers, like those located throughout the state of California. During a brief presentation, Xihua Xu, Director of the Jiaxing Xiuzhou Bureau of Economy and Commerce, discussed the manufacturing resources, potential partnerships, and investment or partnership opportunities in his city. While these partnerships are valuable to Chinese government officials, it’s also an opportunity for American manufacturers to broaden their market, invigorate production, and spark increased localized growth. “We think Toolots will become a bridge between companies in China and California, and elsewhere in the United States.”

    The US-China Manufacturing Delegation is one example of Toolots’ ongoing ambition to increase engagement between the US and Chinese industrial communities to help promote localized economic growth in Southern California while also educating US SMEs on how to effectively export their products to the overseas market. Additionally, the Company’s streamlined global eCommerce platform makes it easy for manufacturers to sell their products to long-tail, or niche, markets.

    Toolots differentiates itself from the competition by providing the logistical, financial, and personnel support to get new products in the hands of new customers in addition to comprehensive after-sales services. This affords small to medium sized enterprises the ability to focus on the quality of their products, while Toolots handles the heavy lifting. To learn more or to list your company’s products on our eCommerce platform, sign up at www.toolots.com.


    Jason Fu and William Andreozzi speak with American Multimedia TV USA about the importance of improving international trade relations.

  • Toolots Founder Delivers State of the Company Address

    Founder of Growing Platform, Toolots.com, Aims to Revolutionize Industrial Equipment Market

    Toolots Founder Jason Fu addresses his employees in the 2017 State of the Company Address.

    CERRITOS, Calif. - May 22, 2017 - Toolots Founder Jason Fu is building much more than his business, a full-service online marketplace based in Southern California that fuels the global manufacturing industry. The early veteran of industrial eCommerce and chief executive officer said he is building an “ecosystem” with Toolots – a platform to revolutionize the eCommerce marketplace for industrial machinery, equipment, and technology.

    In remarks to all Toolots employees as part of his State of Company Address Friday, Fu outlined this message, envisioning the future of the company he formally launched in May 2016. The chief executive for Cerritos-based Toolots described his own personal journey as a business owner – the lessons learned, the ground gained, and effective strategies to push the enterprise far beyond a simple distributor of the tools of the manufacturing trade.

    Fu, also Chief Executive Officer for Toolots, outlines the fiscal growth of the company he launched in May 2016.

    With plans to streamline the current business model and develop nationwide brand recognition as the company’s international footprint expands, Fu pointed to recent growth in Asia, citing the establishment of Toolots Taiwan last month. The company has two additional facilities in China, located in Hangzhou and Ningbo, as well as a distribution center in Houston, Texas. But the growth isn’t limited to the physical realm. As part of the flourishing Toolots supplier network, Fu reported that more than 120 businesses from the United States and China have partnered with the California company to sell their industrial products – both domestically and internationally – on Toolots.com.

    “We are adding a lot of new products on a daily basis,” Fu said. “We are moving along very fast.”

    Providing genuine customer service is one of the most important components in any successful business, Fu said. As an immigrant from China who followed his dream of building businesses in the United States and becoming a U.S. citizen, the Toolots chief executive learned English, striving to be able to more effectively communicate.

    In his first State of the Company Address, the Toolots founder spoke directly to all his employees and outlined the company's expansion plans.

    When Fu arrived to the U.S. in 1996, he was motivated by his dream to open an online marketplace for industrial equipment. More broadly, he yearned to bridge the gap between U.S. and Chinese equipment manufacturers, fostering improved relations between both countries, he said. The language barrier leads to lots of dollars lost for companies, he said, and it demonstrates the need for clear communication – not only with customers and potential customers, but also employees and colleagues within the industry from around the world.

    “For us new immigrants, we hit the same roadblocks, but we all succeed when we try,” Fu said.

    The industrial space has additional roadblocks, the chief executive pointed out. Some customers are uncomfortable purchasing heavy machinery online, without the ability to see it in person, and are more accustomed to the traditional distributor model complete with segmented territories. Toolots changes that; the Cerritos showroom includes some of the most popular online items, and new machinery or stock is proudly displayed for walk-in customers, in addition to high-quality photos and videos of many products posted on Toolots.com.

    Toolots engineers install a robotic device on a plastic injection molding machine to greatly speed up production.

    Another roadblock for the industrial equipment industry, particularly eCommerce businesses, is providing effective warranty protection, service and maintenance to online customers in a simple way.

    “After-sales service is the biggest barrier for industrial supply” Fu said. With the release of its companion smartphone application YuuTool, Toolots is redesigning how online marketplaces provide after-sales services to customers. By connecting users of industrial machinery with qualified service technicians, in a similar manner to the way Uber connects those in need of a driver with a quick, affordable ride, YuuTool brings people together. This focus on service distinguishes Toolots from its competitors and other providers of industrial equipment, Fu said.

    “We’re providing big services through YuuTool. It’s all within the Toolots ecosystem, where everything has value,” he said.

    Toolots Chief Strategy Officer ZeMing Gao speaks to the company's employees May 19 during a companywide address.

    “The Toolots business model is revolutionary,” added Toolots Chief Strategy Officer ZeMing Gao, stressing how Fu intelligently constructed a vertical business that can be easily scaled to other horizontal markets.

    A business only succeeds with its employees, Fu pointed out. Addressing all Toolots employees in a video broadcast in Mandarin and English, the chief executive said, “You are all part of the foundation, what we build upon. It is on this foundation that we are constructing a building, one that went from zero to something that will bloom.”

    It is vital that each department within Toolots has a “good foundation,” he added, and strives to continually inject fresh vision through the hiring of powerful leaders.

    “New blood is bringing big experience, and this will help us in ongoing efforts to continue building a great team,” Fu said. In the coming weeks, Toolots will have significant announcements about new executives joining the enterprise. Those announcements will be released soon.

    Fu pivoted from discussion of Toolots, its business model and its growth to Alibaba, an eCommerce firm that has grown exponentially in recent years. Alibaba started as a simple directory of information, similar to Yellow Pages, to help manufacturers find and locate new suppliers. What began as a simple online platform created by Chinese national Jack Ma to provide an online marketplace of suppliers has evolved to become a behemoth as the world’s largest retailer, even surpassing Walmart in domination of the marketplace, according U.S. Securities and Exchange Commission filings in 2016. As of 2014, Alibaba had a market value of more than $231 billion.

    Explaining that the key to Alibaba’s success was creating a platform to connect businesses worldwide and fulfill their needs, Gao suggested that Toolots is on track to one day become an influencer in the global trade environment. “You want your platform to be so essential that you can’t imagine what life or business would be like without it,” Gao said, stressing the need to offer something completely original from your competitors. He is confident Toolots is that platform.

  • Toolots Expands Global Reach with New Taiwan Facility, Entity

    Part of the company’s ongoing expansion, Toolots Taiwan will help serve international community

    Toolots signed documents securing a new facility in Taiwan to better serve the global industrial machinery and equipment market

    TAIWAN – April 20, 2017 – As part of the ongoing growth of Toolots, Inc., the company is expanding its global reach with the addition of a new facility in Taiwan. This week the company signed documents securing a new Taiwan office and creation of Toolots Taiwan, helping to better serve the international community and boost the marketing, sales and fulfillment of products from around the world, including United States-made industrial equipment and tools, throughout the region.

    Toolots Chief Executive Officer Jason Fu said the new location will employ six full-time employees, adding, “They will work with our international team to build the Toolots brand and help to better locate, market, sell and deliver industrial products from all over the world, including the United States and Asia.”

    Fu said, “This Taiwan office is a symbol that Toolots is growing fast, but we are growing intelligently. There is great demand in Asia for American-made industrial equipment and with this new location, and Toolots will be able better serve its international customers and fulfill orders for those in-demand products.”

    Likewise, the Toolots Taiwan business development team will coordinate with leadership at the company’s California-based headquarters to identify Asian products that are in high demand within the U.S.

    About Toolots

    Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and technology. The user-friendly platform provides fast, easy access to high-quality, affordable equipment to manufacturers. Toolots’ comprehensive services streamline the purchase, delivery, installation and warranty of industrial technology, machinery and components, and uphold the quality of important goods through a vetted network of vendors and service technicians. The company’s dedication to fostering international trade relations passes on cost savings to the consumer, contributes to reduced downtime, improves productivity and expands a manufacturer’s reach. Toolots has strategically located warehouses, showrooms, and offices across the United States and China. For more information about Toolots, visit their website at www.toolots.com.

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  • Toolots Partners with CybEye Inc. for YuuTool 2.0

    Los Angeles-based tech developer CybEye, Inc. helps to revamp and build out second iteration of YuuTool app

    yuutool-and-cybeye

    CERRITOS, Calif. - April 14, 2017-  Toolots announced it will be releasing the latest version of their smartphone companion app, YuuTool 2.0, May 2017 on iOS and Android platforms. New features of the app will include an optimized Finder component for locating nearby equipment services and repair, a simplified user-friendly platform, live video calls between customers and technicians for more accurate repairs, quotes, and a web based version to be released by Summer 2017.

    YuuTool user/customer job posting

    YuuTool 2.0’s new sleek design and enhanced capabilities are made possible through a mutual partnership with CybEye, Inc., a Torrance-based computer software company founded in 2011 by Chief Executive Officer Bing Liu. CybEye produces inventive mobile video-messaging apps used in a variety of industries including, but not limited to, entertainment, business, and education. A physical representation of the Company’s ingenuity can be found in their three granted patents, with additional 11 currently pending approval.

    "CybEye is extremely excited to collaborate with Toolots on building YuuTool 2.0 as a versatile mobile app platform that connects global Toolots customers with qualified service technicians based on their current location, set up jobs for on-site maintenance, perform remote repair through one-to-one video call and record repair sessions as training material,” Liu said. “YuuTool 2.0's primary objective is to streamline after-sale servicing process and establish a productive mobile community for Toolots customers and technicians alike.”

    Jason Fu, chief executive officer of Toolots, added he is “thrilled to be partnering with CybEye to refine our YuuTool 2.0 app and enhance the overall user experience.” As a whole, Fu explained that Toolots’ goal as a company has always been on streamlining industrial e-commerce between the U.S. and China to build lasting relationships and promote mutual economic growth. Fu stated, “By connecting the manufacturing community through our new user friendly app we believe this will be possible, and will result in a strong manufacturing community supporting one another.”

    social media apps for YuuTool

    The full list of YuuTool 2.0’s improved features, as well as the app’s release date for the App Store and Google Play respectively  will be released soon. To stay up to date, follow Toolots on Facebook, Twitter, and LinkedIn or check out our Blog.

    For information about YuuTool, contact Grant Montgomery via email at gmontgomery@toolots.com or (562) 653-4165 by phone.

    About Toolots

    Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and technology. The user-friendly platform provides fast, easy access to high-quality, affordable equipment to manufacturers. Toolots’ comprehensive services streamline the purchase, delivery, installation and warranty of industrial technology, machinery and components, and uphold the quality of important goods through a vetted network of vendors and service technicians. The company’s dedication to fostering international trade relations passes on cost savings to the consumer, contributes to reduced downtime, improves productivity and expands a manufacturer’s reach. Toolots has strategically located warehouses, showrooms, and offices across the United States, as well as in mainland China, Taiwan and Hong Kong. For more information about Toolots, visit their website at www.toolots.com.

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  • Toolots Signs Investment Agreement, Injects Capital into Enterprise

    T18 Capital, Inc. to invest significant capital following successful fundraising venture

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    CERRITOS, Calif. – March 7, 2017 – Toolots, Inc., a California-based online distributor of industrial machinery, tools and technology, entered an agreement with an investment firm Tuesday to inject capital into the enterprise following completion of a successful fundraising campaign. Members of the Toolots Board of Directors, including Founder, Chief Executive Officer and Board Chairman Jason Fu, were on hand to sign the agreement, which injects a significant yet undisclosed amount of capital into the enterprise.

    Toolots partnered with T18 Capital, Inc. for the fundraising venture, which will help support the company’s initiative to enter sales agreements with more than 100 American manufacturing companies by the year’s end. So far in 2017, Toolots has achieved over 20 percent of that goal, partnering with small to medium-sized manufacturers based in the United States to distribute their products both domestically and internationally.

    About Toolots

    Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and technology. The user-friendly platform provides fast, easy access to high-quality, affordable equipment to manufacturers. Toolots’ comprehensive services streamline the purchase, delivery, installation and warranty of industrial technology, machinery and components, and uphold the quality of important goods through a vetted network of vendors and service technicians. The company’s dedication to fostering international trade relations passes on cost savings to the consumer, contributes to reduced downtime, improves productivity and expands a manufacturer’s reach. Toolots has strategically located warehouses, showrooms, and offices across the United States and China. For more information about Toolots, visit their website at www.toolots.com.

  • Toolots Concludes Second Successful Conference for First Month of Q1

    Jason Fu during his presentation on Toolots' unique business model.

    CERRITOS, Calif. - January 16, 2017 - Toolots, Inc., a California-based provider of factory-direct industrial machinery, equipment, and technology hosted an investor conference on January 14th for a variety of interested investors and entrepreneurs accompanied by the attendance of several local press outlets. The event was the latest of three successful conferences hosted by Toolots in the last month, and saw a significantly larger turnout than initially anticipated.

    The conference began with Mason Wang, Toolots’ Chief Operating Officer China Division, greeting guests and invited attendees to visit the Toolots China Office in Hangzhou and Ningbo. The event was then followed by individual introductions by each attendee and a tour of Toolots’ warehouse personally lead by Founder and CEO, Jason Fu. During his tour, he outlined Toolots’ expedited fulfilment process and highlighted several of the company’s best selling products such as their lathes and plastic injection molding machines.

    Jason Fu providing 40+ investors a tour of Toolots' best selling items in their warehouse. Fu providing 40+ investors a tour of Toolots' best selling items in their warehouse.

    During his presentation Fu, who originally coined the term Internet 4.0, discussed Toolots’ logistics, their unique business model, and the success of their companion app, YuuTool. “Toolots differs from Amazon and Alibaba marketplaces because we specialize in the sale of industrial products and focus on the importance of aftersales services” Fu stated. He continued by citing YuuTool as the Toolots’ latest endeavor to ensure the satisfaction of each customer following initial sale, while simultaneously connecting the manufacturing community together. The event was concluded by an enthusiastic Q&A session and mixed discussion between Fu and attendees lasting for roughly an hour.

    About Toolots

    Toolots, headquartered in Cerritos, California, offers an online marketplace and international distribution channel for factory-direct industrial tools, machinery, and technology. The user-friendly platform provides fast, easy access to high-quality, affordable equipment to manufacturers. Toolots’ comprehensive services streamline the purchase, delivery, installation and warranty of industrial technology, machinery and components, and uphold the quality of important goods through a vetted network of vendors and service technicians. The company’s dedication to fostering international trade relations passes on cost savings to the consumer, contributes to reduced downtime, improves productivity and expands a manufacturer’s reach. Toolots has strategically located warehouses, showrooms, and offices across the United States, as well as in mainland China, Taiwan, and Hong Kong. For more information about Toolots, visit their website.                                                ###

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