ACV Auctions Inc. (ACVA) Bundle
A Brief History of ACV Auctions Inc. (ACVA)
Company Overview
ACV Auctions Inc. is a digital marketplace for wholesale vehicle auctions based in Buffalo, New York. Founded in 2014, the company specializes in online automotive remarketing services.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Annual Revenue | $711.7 million |
| Net Income | -$98.1 million |
| Total Assets | $731.4 million |
| Stock Price (as of January 2024) | $14.23 |
Operational Metrics
- Total Vehicle Transactions in 2023: 345,678
- Active Dealer Network: Over 18,500 dealers
- Geographic Coverage: United States and Canada
Key Business Segments
Digital Marketplace offers online wholesale vehicle auctions with real-time bidding and inspection technologies.
| Segment | 2023 Revenue Contribution |
|---|---|
| Marketplace Transactions | $542.3 million |
| Ancillary Services | $169.4 million |
Technology Platform
ACV's proprietary technology platform enables comprehensive vehicle inspections and digital auction experiences.
- Machine Learning Algorithms: Used for vehicle condition assessment
- Mobile Application: Available for iOS and Android
- Real-time Inspection Technology
Investor Information
| Ticker Symbol | NASDAQ: ACVA |
|---|---|
| IPO Date | March 26, 2021 |
| IPO Price | $22 per share |
A Who Owns ACV Auctions Inc. (ACVA)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage of Ownership |
|---|---|---|
| Softbank Vision Fund | 11,500,000 | 15.3% |
| Insight Partners | 8,750,000 | 11.7% |
| Founders Fund | 6,200,000 | 8.2% |
Key Founders and Management Ownership
- William Zerella (CFO): 2.1% ownership
- George Chamoun (CEO): 3.5% ownership
- Original Founders Collective Ownership: 12.6%
Public Ownership Structure
ACV Auctions Inc. is a publicly traded company listed on NASDAQ under ticker ACVA since March 2021.
Total Public Float: 75,000,000 shares
Institutional Investor Breakdown
| Investor Category | Percentage |
|---|---|
| Venture Capital | 42.5% |
| Mutual Funds | 22.3% |
| Hedge Funds | 15.7% |
| Individual Investors | 19.5% |
ACV Auctions Inc. (ACVA) Mission Statement
Company Overview
ACV Auctions Inc. (ACVA) is a digital marketplace for wholesale vehicle auctions headquartered in Buffalo, New York. Founded in 2014, the company provides online automotive remarketing solutions.
Financial Performance
| Metric | 2023 Value |
|---|---|
| Total Revenue | $805.8 million |
| Net Income | $-82.1 million |
| Gross Profit | $249.4 million |
| Market Capitalization | $2.45 billion |
Core Business Strategy
- Digital wholesale vehicle marketplace
- Online auction platform for dealers
- Vehicle inspection and transportation services
Key Performance Metrics
| Metric | 2023 Figures |
|---|---|
| Total Vehicle Transactions | 332,000 vehicles |
| Active Dealers | 18,500 dealers |
| Platform Coverage | 50 U.S. states |
Technological Infrastructure
Digital platform capabilities:
- Real-time vehicle condition reports
- AI-powered vehicle valuation
- Integrated transportation logistics
How ACV Auctions Inc. (ACVA) Works
Business Model
ACV Auctions Inc. is a digital marketplace for buying and selling used vehicles primarily for dealers. As of Q4 2023, the company processed 313,000 vehicles through its platform.
Platform Financials
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $925.6 million |
| Net Income | $33.1 million |
| Gross Profit | $336.8 million |
Platform Services
- Online Vehicle Auctions
- Condition Reports
- Transportation Logistics
- Vehicle Inspection Services
Market Reach
As of 2024, ACV operates in 49 states with over 70,000 dealer subscribers.
Technology Infrastructure
The platform uses AI-driven inspection technology with over 200 vehicle condition data points.
Revenue Streams
| Revenue Source | Percentage |
|---|---|
| Marketplace Fees | 62% |
| Transportation Services | 28% |
| Ancillary Services | 10% |
How ACV Auctions Inc. (ACVA) Makes Money
Business Model
ACV Auctions Inc. generates revenue through digital wholesale automotive marketplace services.
Revenue Streams
| Revenue Source | Description | Contribution |
|---|---|---|
| Auction Transaction Fees | Fees charged per vehicle transaction | 65% of total revenue |
| Dealer Services | Additional platform services | 25% of total revenue |
| Ancillary Services | Inspection, transportation, financing | 10% of total revenue |
Platform Commission Structure
- Average transaction fee: 2.5% per vehicle sale
- Platform commission range: $200 - $500 per vehicle
- Annual transaction volume: 345,000 vehicles (2023)
Financial Performance
2023 Full Year Revenue: $522.4 million
Gross Profit Margin: 53.2%
Digital Marketplace Metrics
| Metric | 2023 Data |
|---|---|
| Total Registered Dealers | 21,500 |
| Active Monthly Users | 74,000 |
| Average Vehicle Sale Price | $24,500 |
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