by Jonah Kay | Oct 12, 2021 | Automotive, Financials / Deals
Vroom, an online used car dealer, has acquired United Auto Credit Corporation (UACC) for $300 million, the company announced today. The purchase of UACC was Vroom's third acquisition and is likely an attempt to gain traction on competitors like Carvana. This article...
by Jonah Kay | Oct 4, 2021 | Automotive, People on the Move
Shift, an online used-car retailer (NASDAQ: SFT), has appointed Jeff Clementz as its new president. Clementz has a long career in e-commerce and has held several roles at payments and marketplace businesses. Clementz (LinkedIn profile) was most recently the senior VP...
by Jonah Kay | Aug 13, 2021 | Real Estate, PropTech & IBuying
Opendoor is in talks with lenders to secure a $2 billion credit facility. The real estate company plans to use the funds to increase acquisitions for its I-Buying operations, according to Bloomberg. This article is locked. Please email info@aimgroup.com for more...
by Jonah Kay | Aug 12, 2021 | Real Estate, Financials / Deals
Opendoor acquired a record number of homes in the second quarter of 2021, bumping revenue over $1 billion. Those results were part of an aggressive expansion effort — Opendoor launched in 12 new markets last quarter alone. It's now active in almost 40 markets across...
by Jonah Kay | Aug 12, 2021 | Automotive, Financials / Deals
Despite a banner quarter, Vroom has yet to make a dent in its efforts to become profitable. The e-commerce auto seller nearly doubled the number of units sold this year, but increased staffing and marketing costs led to a net loss of nearly $66 million. This article...
