ACV Auctions Inc.

ACV Auctions Inc. operates a marketplace platform for wholesale used vehicle transactions and data services. The company aims to create a trusted and efficient marketplace for buying and selling used vehicles by providing transparent and accurate vehicle information. Its marketplace platform uses data insights and technology to enable dealers and commercial partners to buy, sell, and value vehicles efficiently. This platform is supported by remarketing centers located across the United States. ACV Auctions Inc. assists dealers with sourcing and managing inventory, accurately pricing vehicles, processing payments, transferring titles, managing arbitrations, and arranging financing and transportation. The marketplace platform includes three main components: 1. **Digital Marketplace:** This connects buyers and sellers of wholesale vehicles through various auction formats, facilitating real-time transactions. It is accessible via mobile apps, desktop, and API integration. The company also offers transportation, financing, and assurance services to support the transaction process. 2. **Remarketing Centers:** These centers provide an additional channel for auction services to dealers and commercial partners. Vehicles can be auctioned onsite or launched into the digital marketplace from these locations. Remarketing centers also offer additional services important for commercial partners. 3. **Data Services:** These services provide insights into the condition and value of used vehicles for transactions both on and off the marketplace. They help dealers, their end consumers, and commercial partners make informed decisions and transact efficiently.