Skip to main content
Sister Publication Links
  • Automotive News
  • Automotive News Europe
  • Automotive News Mexico
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • login
  • HOME
  • NEWS BY BRAND
    • Aston Martin
    • BMW
    • Daimler
    • Fiat Chrysler
    • Ford
    • General Motors
    • Honda
    • Hyundai
    • Mazda
    • Mitsubishi
    • Nissan
    • Subaru
    • Tata
    • Tesla
    • Toyota
    • Volkswagen
    • Volvo
    • Mini
    • Rolls Royce
    • Mercedes Benz
    • Smart
    • Alfa Romeo
    • Chrysler
    • Dodge
    • Ferrari
    • Fiat
    • Jeep
    • Lancia
    • Maserati
    • Ram
    • Lincoln
    • Buick
    • Cadillac
    • Chevrolet
    • GMC
    • Acura
    • Kia
    • Infiniti
    • Jaguar
    • Land Rover
    • Lexus
    • Audi
    • Bentley
    • Bugatti
    • Lamborghini
    • Porsche
  • News
    • Auto Shows
    • Photo Galleries
    • Automakers
    • Suppliers
    • Retail
    • Government Relations
    • Trade and Tariffs
    • Technology
    • Labour
    • Lawsuit challenges Trump's authority on steel, auto tariffs
      Automaker-supplier relationships take a hit
      Ghosn's ace for growth: Suppliers
      In-demand tech puts wary suppliers on guard, study finds
    • U.S. metal tariffs sting Magna, but USMCA brings promise of additional work
      U.S. tariffs on steel, aluminum could be gone in weeks, ambassador says
      Magna posts record Q4 revenue, but profits and margins decline
      Ontario aims to replace GM with Magna, Martinrea or other in Oshawa
    • Kia dealer Benny Leung a true Canadian-immigrant success story
      AutoCanada sues former CEO Patrick Priestner for $250M over dealership acquisitions
      Rolls-Royce names BMW exec its new sales VP for Americas
      How GM's Oshawa closure could affect sales, dealerships
    • Level 3 autonomous vehicles now allowed on Ontario roads
      Ford adds 149,652 vehicles in Canada to Takata airbag recall
      Honda wants recall notices to be part of registration renewals
      All wet: Rain could delay the arrival of self-driving future
    • U.S. metal tariffs sting Magna, but USMCA brings promise of additional work
      U.S. tariffs on steel, aluminum could be gone in weeks, ambassador says
      A look at which automakers in Canada meet USMCA's 75% content rule
      Canada seeks Pelosi's support in push to lift U.S. metal tariffs
    • Vehicle screens go super-sized at CES as tech catches up
      All in a day's work
      Ford commits US$4 billion to autonomous vehicles, forms new subsidiary
      Massive data breach at Canadian company hits several automakers, report says
    • GM Canada says it will find 2,400 jobs for Oshawa workers
      FCA to idle Ontario minivan plant for 8 days, union says
      Unifor calls for boycott of GM vehicles if automaker closes Oshawa plant
      Unifor's Jerry Dias, Magna's Don Walker named Automotive News All Stars
    • Toronto Auto Show
  • Opinion
    • Blogs
    • Chevy's 2019 Blazer: More Camaro, less Equinox
      Trump's troubling definition of victory
      The 2019 Nautilus: Lincoln's Cadillac Super Cruise fighter?
      What Cadillac dealers can expect from Steve Carlisle
  • EVENTS, WEBINARS & AWARDS
    • 2018 Auto News Canada All Stars
    • Best Dealership To Work For
    • Canada Congress
    • Webinars
    • More women in dealerships is just plain good for business
    • VIDEO: Why Ford's Hinrichs is bullish on USMCA
      Ontario aims to replace GM with Magna, Martinrea or other in Oshawa
      Dealers told standalone stores 'difficult to remain profitable'
      Ford's Joe Hinrichs: Plant closures have 'cascading effects' on industry
  • +MORE
    • NEWSLETTERS
    • SUBSCRIBE
    • CLASSIFIEDS
    • CONTACT US
    • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. Canada
October 03, 2017 01:00 AM

Canada's TradeRev bought by U.S.-based KAR Auction Services

Jesse Snyder
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    The TradeRev mobile app lets dealers bid for trade-in and commercial consignment inventory before the vehicles arrive at physical auction sites, using their smartphones, tablets or desktops.

    KAR Auction Services Inc. has acquired full ownership of the Canada-based TradeRev technology that allows dealers to electronically bid on and purchase used vehicles before they reach physical auctions.

    KAR, which owns 250 whole and salvage vehicle auctions under its ADESA and Insurance Auto Auction units, had purchased half of TradeRev's parent company, Nth Generation Software, in 2014. It bought the remaining half Tuesday for $50 million in cash and an additional $75 million over the next four years contingent on TradeRev performance.

    "The acquisition of TradeRev ensures that KAR will maintain its strong leadership position in the mobile app and online auction space," KAR CEO Jim Hallett said in a statement. "By injecting TradeRev with the full force of KAR's technology, data, financing and service offerings, we plan to accelerate growth across North America and around the globe."

    Live sessions

    The TradeRev mobile app lets dealers bid for trade-in and commercial consignment inventory before the vehicles arrive at physical auction sites, using their smartphones, tablets or desktops. It mimics the physical auction setting, so dealers can participate in live, one-hour online sessions.

    Winning TradeRev bidders can complete the transaction within the app, including optional inspection, title and arbitration services and financing and transportation through KAR's Automotive Finance Corp. and CarsArrive brands.

    TradeRev, which is based in the Toronto region, will be led by President Becca Polak, who for the past 10 years has been KAR's executive vice president, general counsel and corporate secretary. She has also been promoted to KAR's chief legal counsel and secretary.

    In the statement, Polak said she'll focus on expanding TradeRev's footprint beyond its current presence in the U.S., Canada and the U.K.

    'New markets'

    "Over the next several months, we'll continue expanding into new markets and begin leveraging KAR's data analytical capabilities to enhance the TradeRev buying and selling experience," she said in a statement.

    The four co-founders who launched TradeRev in 2009 will remain in executive positions. Former TradeRev CEO Mark Endras remains a member of KAR's senior leadership team reporting to Polak, but also becomes KAR chief innovation officer reporting to Chief Information Officer Tom Fisher and will establish TradeRev innovation labs in Toronto, Chicago and KAR's hometown of Carmel, Ind.

    Recommended for You
    Digital Edition
    Thumbnail
    View latest issue
    See our archive
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up today for our Weekly Newsletter, Daily Newsletter and Breaking News Alerts. We'll deliver the news you need to know straight to your inbox.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Subscribe Today

    An Automotive News Canada subscription includes 12 monthly issues – delivered in print to your doorstep, and digitally to your inbox – plus unlimited, 24/7 access to our website.

    Subscribe
    Connect With Us
    • Facebook
    • Twitter
    • Instagram

    Our Mission

    The Automotive News Canada mission is to be the primary source of industry news, data and understanding for the industry's decision-makers interested in Canada.

    Contact Us

    PO Box 243
    Station A
    Windsor, ON
    N9A 6K7

    1-877-812-1257

    Email Us

    Resources
    • About us
    • Contact Us
    • Digital Edition Archive
    • Advertise with Us
    • Reprints
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    Copyright © 1996-2019. Crain Communications, Inc. All Rights Reserved.
    • HOME
    • NEWS BY BRAND
      • Aston Martin
      • BMW
        • Mini
        • Rolls Royce
      • Daimler
        • Mercedes Benz
        • Smart
      • Fiat Chrysler
        • Alfa Romeo
        • Chrysler
        • Dodge
        • Ferrari
        • Fiat
        • Jeep
        • Lancia
        • Maserati
        • Ram
      • Ford
        • Lincoln
      • General Motors
        • Buick
        • Cadillac
        • Chevrolet
        • GMC
      • Honda
        • Acura
      • Hyundai
        • Kia
      • Mazda
      • Mitsubishi
      • Nissan
        • Infiniti
      • Subaru
      • Tata
        • Jaguar
        • Land Rover
      • Tesla
      • Toyota
        • Lexus
      • Volkswagen
        • Audi
        • Bentley
        • Bugatti
        • Lamborghini
        • Porsche
      • Volvo
    • News
      • Auto Shows
        • Toronto Auto Show
      • Photo Galleries
      • Automakers
      • Suppliers
      • Retail
      • Government Relations
      • Trade and Tariffs
      • Technology
      • Labour
    • Opinion
      • Blogs
    • EVENTS, WEBINARS & AWARDS
      • 2018 Auto News Canada All Stars
      • Best Dealership To Work For
      • Canada Congress
      • Webinars
    • +MORE
      • NEWSLETTERS
      • SUBSCRIBE
      • CLASSIFIEDS
      • CONTACT US
      • DIGITAL EDITION