Can I buy from ACV auction?
ACV Auctions provides a business-to-business online marketplace. Only representatives of licensed dealerships are eligible to participate. By using the Services you represent and warrant that you are a licensed dealer of motor vehicles and are legally eligible to purchase or sell wholesale vehicles for resale.
How does ACV Auctions make money?
The start-up has taken part in 750,000 wholesale transactions with more than 21,000 dealers and commercial partners since its inception. ACV generates revenue from the fees it charges customers for using its marketplace, as well as other services like the transport of cars. The U.S. auto market is big.
Is ACV Auctions for public?
Online wholesale auto auction firm ACV Auctions of Buffalo, NY, went public in a March 24 initial public offering on the NASDAQ exchange. According to Bloomberg, the IPO raised about $414 million. CEO George Chamoun says the company expects to use the proceeds to continue expanding across the country.