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Working at OPENLANE
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About
KAR Auction Services sold its ADESA US physical auction business to Carvana for $2.2 billion in 2022 and rebuilt itself around digital marketplaces, renaming the whole company OPENLANE — after its digital brand — effective 15 May 2023. The business now runs two segments: a marketplace connecting wholesale buyers and sellers of used vehicles across the US, Canada and Europe, and AFC, which provides floorplan financing to independent dealers. The first OPENLANE-branded marketplace launched in Canada in June 2023, combining the existing ADESA and TradeRev platforms. That Canadian lineage runs through TradeRev, the Toronto dealer-to-dealer auction app Mark Endras co-founded in 2009 and sold to KAR; Endras is now OPENLANE's SVP and chief technology officer, and presented TradeRev at TechTO in 2017.
Backers
Publicly traded on the NYSE as KAR.
Quick answers
What is OPENLANE?
A digital wholesale marketplace for used vehicles in the US, Canada and Europe, plus AFC, its floorplan financing arm for independent dealers.
Is OPENLANE the same company as KAR Auction Services?
Yes. KAR renamed itself OPENLANE, Inc. on 15 May 2023, after selling its ADESA US physical auction business to Carvana for $2.2 billion.
What is OPENLANE's Canadian connection?
Its first OPENLANE-branded marketplace launched in Canada in June 2023, merging ADESA and TradeRev — the Toronto app Mark Endras co-founded and KAR acquired. Endras is now OPENLANE's CTO.