ACV Auctions, Inc.
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ACV Auctions, Inc. - overview
Established
2014
Location
Buffalo, NY-New York, US
Primary Industry
Internet
About
ACV Auctions, Inc. is a digital auto auction platform facilitating the buying and selling of vehicles for automotive dealers, enhancing the efficiency of wholesale transactions across the United States. Founded in 2014 and headquartered in Buffalo, US, ACV Auctions, Inc. operates as an online marketplace for automotive dealers.
The company was established by Dan Magnuszewski, Joseph Neiman and Jack Greco and has undergone significant growth, focusing on transforming the vehicle auctioning process. In March 2021, ACV Auctions raised USD 413. 75 mn in an IPO, which values the company at USD 3. 85 bn.
The company has conducted a total of 8 deals since inception, marking its evolution in the automotive market. ACV Auctions operates as a leading online auto auction marketplace designed for automotive dealers to buy and sell used cars, trucks, and SUVs. The platform allows dealers to engage in a seamless online auction experience for sourcing clean title vehicles and wholesale inventory from nationwide without attending physical auctions. Core offerings include thorough vehicle inspections performed by a network of inspectors, delivering detailed reports, high-definition photos, and assessments.
Additional services incorporate ACV Transportation, ACV Capital for financing, and various tools for inventory management and vehicle appraisal, enhancing efficiency and profitability for dealers nationwide. ACV Auctions generated revenue of USD 637. 16 mn in the most recent fiscal year, 2024, while reporting an EBITDA of USD -47. 30 mn.
The company’s revenue model is based on transaction fees derived from its online auction services, where dealers bid on inventory and ACV facilitates the auction process with detailed vehicle condition reports. This B2B structure connects numerous car dealers with potential sellers while offering valuable services such as transportation and financing options through ACV Capital, supporting a transparent and efficient transaction experience. ACV Auctions plans to leverage the proceeds from its recent IPO to enhance its platform by introducing new product features and expanding its market presence. The company is targeting specific geographic regions for expansion, although the exact locations and timelines have not been disclosed.
The raised capital will be utilized to support these initiatives, further optimizing their auction services and technology to better serve automotive dealers in the evolving marketplace.
Current Investors
Z80 Labs, Armory Square Ventures, Signature Bank
Primary Industry
Internet
Sub Industries
Automobile Dealerships, Internet
Website
www.acvauctions.com
Verticals
E-commerce, Mobile Apps
Company Stage
Mature
Total Amount Raised
Subscriber access only
ACV Auctions, Inc. - timeline of key events
ACV Auctions, Inc. - financials
| Fiscal Year Ended | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|---|
| Revenue (USD) | 106,900,000 | 208,357,000 | 358,435,000 | 421,529,000 | - | - | - |
| % Revenue Growth (YoY) | - | 94.9% | 72.0% | 17.6% | - | - | - |
| EBITDA (USD) | (75,900,000) | (33,403,000) | (68,052,000) | (94,831,000) | - | - | - |
| Operating Income (USD) | (77,200,000) | (40,647,000) | (76,805,000) | (106,209,000) | - | - | - |
| Operating Margin | (72.2%) | (19.5%) | (21.4%) | (25.2%) | - | - | - |
| % EBITDA Margin | (71.0%) | (16.0%) | (19.0%) | (22.5%) | - | - | - |
| NET Income (USD) | (77,200,000) | (41,021,000) | (78,182,000) | (102,193,000) | - | - | - |
| % Net Margin | (72.2%) | (19.7%) | (21.8%) | (24.2%) | - | - | - |
ACV Auctions, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | Drive Inc. | - | ||||||||
| Add-on, Trade Sale | Completed | Monk SAS | - | ||||||||
| Add-on, Trade Sale | Completed | Drivably, Inc. | - | ||||||||
| IPO | Completed | ACV Auctions, Inc. | - | ||||||||
| Series E | Completed | ACV Auctions, Inc. | - |
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ACV Auctions, Inc. - employee data
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