ACV Auctions is wholesale car auction platform, that offers transparent and accurate information about vehicles to clients. The platforms includes:
• Digital marketplace. It intuitively and efficiently connects wholesalers and vehicle sellers. The main offering on the marketplace is a 20-minute real-time auction that provides instant wholesale vehicle transactions, which is available across multiple platforms, including mobile apps, the web and directly through API integrations. The marketplace also offers transportation, financing and insurance services to facilitate the entire transaction process.
• Data service. Users can post information about the condition and value of used vehicles for transactions and help dealers, their clients and commercial partners make more informed decisions to transact with confidence and efficiency.
• Data and technology. Platform and vehicle inspection support, comprehensive vehicle analytics reports posting, digital marketplace and operations automation platform support.
The listed bookrunners of the IPO are Sachs, JP Morgan, Citigroup, BofA Securities, Jefferies, Canaccord Genuity, Guggenheim Securities, JMP Securities, Piper Sandler and Raymond James.