Cars and Bids, LLC
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Cars and Bids, LLC - overview
Established
2020
Location
San Diego, CA, US
Primary Industry
Internet
About
Based in California, US, and founded in 2020 by co-founders Blake Machado, Doug DeMuro, Cars and Bids, LLC operates as an online-auction platform for bidding various types of automotive models from old units to latest. In January 2023, The Chernin Group, LLC, a portfolio company of Providence Equity Partners, acquired a majority stake in Cars and Bids, LLC for USD 37 million. As of February 2023, the company has complteted more than 10,000 auctions with the help of 18 employees. Cars and Bids, LLC provides an online auction marketplace for new and used vehicles with previous history reports, car models and other related details and allows searching, buying, or selling special automobiles.
The company allows sellers to list there cars, truck, coupe, hatchback, sedan, wagon, van, minivan, SUV, and convertible of various brands incluidng Mercedes, Audi, Chevrolet Monte Carlo, Toyota Land Cruiser, Subaru Impreza, and BMW. Following the acquisition in January, 2023, the company plans to further maximize and expand its auction offering and services across the market.
Current Investors
Primary Industry
Internet
Sub Industries
Automobile Dealerships, Internet
Website
www.carsandbids.com
Verticals
E-commerce
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
Cars and Bids, LLC - 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) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Buyout | Completed | Cars and Bids, LLC | - |
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