ACV Auctions Inc
NASDAQ:ACVA

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ACV Auctions Inc
NASDAQ:ACVA
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Price: 21.425 USD 0.02%
Market Cap: 3.6B USD
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ACV Auctions Inc
Investor Relations

In the ever-evolving landscape of automotive commerce, ACV Auctions Inc. has carved out a distinct niche by transforming the way dealers buy and sell used vehicles. Founded in 2014, ACV Auctions emerged to tackle inefficiencies within the traditional auction model. It recognized the frustrations dealers faced with the time-consuming and often opaque physical auctions. By leveraging digital technology, ACV developed an online platform that facilitates real-time, 20-minute auctions. Sellers can upload detailed vehicle information and inspection reports, ensuring transparency and enabling buyers to make informed decisions quickly. The process significantly reduces the time vehicles spend in inventory, allowing sellers to receive faster payments while buyers gain access to a broader array of options.

The company's business model thrives on the fundamental concept of efficiency. Revenue is generated primarily through transaction fees levied on each vehicle sold on the platform, combined with ancillary services like transportation and floorplan financing. By enabling seamless transactions and offering value-added services, ACV Auctions streamlines the supply chain between wholesale automotive sellers and buyers. This digital transformation not only ensures a faster turnaround but also infuses the market with greater trust and competitiveness, marking ACV Auctions as a disruptive force within the used car industry. The success of this model is evidenced by the company's rapid growth and its role in reshaping how dealers perceive vehicle sourcing and inventory management.

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Management

Mr. George G. Chamoun
CEO & Director
No Bio Available
Mr. William R. Zerella
Chief Financial Officer
No Bio Available
Mr. Vikas Mehta
Chief Operating Officer
No Bio Available
Mr. Michael Waterman
Chief Sales Officer
No Bio Available
Mr. Craig Eric Anderson
Chief Corporate Development & Strategy Officer
No Bio Available
Mr. Bahman Koohestani
Chief Technology Officer
No Bio Available
Mr. Timothy M. Fox
VP of Investor Relations
No Bio Available
Ms. Maura Duggan
Associate Director of Communications
No Bio Available
Ms. Kate Cadou Clegg
Chief Marketing Officer
No Bio Available
Ms. Sallie Reid
Chief People Officer
No Bio Available

Contacts

Address
NEW YORK
Buffalo
640 Ellicott St
Contacts
+15853170406.0
www.acvauctions.com