User:PackardWalsh/sandbox

ACV Auctions
	ACV Auctions Logo
Company type	Public
Traded as	Nasdaq: ACVA;
Industry	Automotive
Founded	2014
Headquarters	Buffalo, New York, U.S.
Key people	George Chamoun (CEO); Dan Magnuszewski (Founder); Joseph Neiman (Founder); Jack Greco (Founder)
Revenue	$358.44 million (2021)
Number of employees	1,470
Subsidiaries	ASI; Driveably; MAX Digital; Monk SAS; TrueFrame;
Website	www.acvauctions.com

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ACV Auctions, Inc. or simply ACV is a Buffalo-based business formed in 2014 as a live wholesale marketplace for dealer-only automobile auctions. ACV Auctions won 43 North’s 2015 Finals and received a $1 million investment.^[2] In 2019, they became Buffalo’s first tech unicorn.^[3] ACV is a public company traded on the NASDAQ under the ticker symbol ACVA.

History

ACV was founded in 2014 by Dan Magnuszewski, Joseph Neiman, and Jack Greco. After winning 43 North's 2015 finals, the company launched a digital automotive auction platform. Investment rounds were launched with $5 million being secured in Series A Funding beginning in 2016.^[4] In March of 2021, ACV filed to go public. According to Bloomberg, the IPO raised about $414 million.^[5]

Notable Acquisitions

In 2019, ACV purchased vehicle accident inspection provider TrueFrame.^[6] In July of 2021, ACV acquired MAX Digital, a vehicle merchandising and inventory management platform, for $60M.^[6] ACV announced two acquisitions in February of 2022, including Monk SAS and Drivably, each of which offer digital solutions in the used car industry.^[7]

References

^ "ACV Auctions Financials". Globe News Wire. Retrieved February 16, 2022.
^ "ACV Auctions takes top 43 North prize". Buffalo Business First. October 29, 2015. Retrieved March 3, 2022.
^ "ACV becomes buffalo's first unicorn". Automotive News. November 13, 2019. Retrieved March 3, 2022.
^ "ACV Auctions ramps up $5 Million Deal". Buffalo Rising. September 19, 2016. Retrieved March 5, 2022.
^ "ACV Auctions IPO Raises $414 Million on NASDAQ". Wards Auto. March 25, 2021. Retrieved March 5, 2022.
^ ^a ^b "ACV buys inspection provider TrueFrame". Auto Remarketing. December 19, 2019. Retrieved March 5, 2022. Cite error: The named reference "autoremarketing" was defined multiple times with different content (see the help page).
^ "ACV Auctions on acquisition streak as shares inch upward". Buffalo Inno. March 1, 2022. Retrieved March 7, 2022.

External links

Official website

[globenewswire-1] "ACV Auctions Financials". Globe News Wire. Retrieved February 16, 2022.

[buffalobusinessfirst-2] "ACV Auctions takes top 43 North prize". Buffalo Business First. October 29, 2015. Retrieved March 3, 2022.

[buffalonews-3] "ACV becomes buffalo's first unicorn". Automotive News. November 13, 2019. Retrieved March 3, 2022.

[buffalorising-4] "ACV Auctions ramps up $5 Million Deal". Buffalo Rising. September 19, 2016. Retrieved March 5, 2022.

[wardsauto-5] "ACV Auctions IPO Raises $414 Million on NASDAQ". Wards Auto. March 25, 2021. Retrieved March 5, 2022.

[autoremarketing-6] "ACV buys inspection provider TrueFrame". Auto Remarketing. December 19, 2019. Retrieved March 5, 2022. Cite error: The named reference "autoremarketing" was defined multiple times with different content (see the help page).

[buffaloinno-7] "ACV Auctions on acquisition streak as shares inch upward". Buffalo Inno. March 1, 2022. Retrieved March 7, 2022.

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