ST. PETERSBURG, Fla. — There’s a company in St. Petersburg that has seen exponential growth and success from buying excess computer chips and electronic parts for resale to businesses dealing with supply chain issues.

What You Need To Know

  •  IBuyXS is one of Florida's fastest growing businesses, according to Inc. 5000

  •  Officials with the company say it has grown more than 4,800% over the past three years

  •  Their online website, Bidchips, is how many companies are able to buy pieces of technology to keep their assembly lines going

IBuyXS is currently the fastest growing businesses in the state of Florida, according to Inc 5000’s list of fastest growing companies in 2023.

Over the past three years, company representatives say they’ve grown roughly 4,800% by buying excess electronic parts that go into things like cars, computers and smart phones, for resale to manufacturers that need them to keep their businesses going.

“Anything that has a chip in it, we can sell,” said iBuyXS CEO Claudia Pallazola.

Pallazola has 25 years of experience in this field and started the company in 2019, right before the pandemic led to massive supply chain issues.

While factories operators worried that they wouldn’t have the correct components to keep their manufacturing lines functioning, she said IBuyXS was there to provide the parts they couldn’t find anywhere else at an affordable price.

“Our whole stance is about adapting to whatever the market needs and wants,” Pallazola said.

So even with a small office and storage facility in downtown St. Pete, she said they’ve been able to thrive.

Along with that, IBuyXS chief marketing officer and Claudia’s husband, John Pallazola, said their online bidding site, Bidchips, is revolutionizing the way they’re able to sell their products.

“It’s much better when people are looking through their normal methods on their search engines or on Google or Yahoo, whatever their preference is,” he said.

He said that streamlining the purchasing process by creating a sort of eBay for electronic components will help them grow even more.

“We try to make it as easy as possible for them to find their way to us,” he said.

Both John and Claudia Pallazola say it’s that clever way of thinking that makes IBuyXS malleable and adaptable to whatever is going on in the national and global economy.

On top of this business, the Pallazola’s plan on introducing a new app in the coming weeks that will help customers get cash back whenever they choose to go out to dinner at a local restaurant.