The Daily Download: Featuring ACV Auctions
ACV Auctions' S-1 filing for its IPO is finally available online, which means we're getting very close to their public listing. The company has expanded from its first territory in Buffalo, New York in 2015 to 125 territories at the end of last year.
For 2020, ACV Auctions sold 391,000 vehicles, up 62% YOY. These vehicles represented a total marketplace gross merchandise value of $3.3 billion, up 86.2% from the prior year. For 2020, the company generated total revenue of $208 million, an increase of 95% YOY.
This is one of the most exciting IPOs to watch this year!