Company: ACV Auctions, Buffalo, NY USA
Category: Employer of the Year - Automotive & Transport Equipment
- At ACV Auctions, we live our values every day. We believe success is all about providing trust and transparency to our team and our dealers. That's why we hire the best people and empower them to do what is right and fair. Our team members are incredibly hardworking and strive to provide the very best customer experience. By heavily investing in technology, we help dealers make smarter decisions and ultimately increase their success. Our calm persistence allows us to innovate and challenge the status quo, continuously.
- ACV Auctions is built on a foundation of trust and transparency. We’re growing over 400 percent a year and adding 20–30 teammates a month. We all get our hands dirty. As we grow, it’s imperative to us that we continue to foster an environment of mutual respect and collaboration, where our employees know they make a difference, and that their work is appreciated. We’ve found the best way to do that is to hire happy, enthusiastic people, who want to grow with us. At ACV, the opportunities are endless, so we invest heavily in training and development programs. Because we know our most significant differentiator is our people, we ensure everyone has what they need to get to where they want to be.
- ACV Auctions recently (May 2018) partnered with the Olmsted Center for Sight to hire blind and visually impaired people. ACV has also partnered with Jericho Road Ministries community project, the SPCA, 716 Ministries – a community development organization in Buffalo – and various blood drives.
- ACV implemented the Active Community Volunteers (A.C.V.) Committee, which has overseen a gift drive for Oishei Children’s Hospital, a food drive for Buffalo City Mission and an ongoing partnership with Meals on Wheels.
- ACV offers its employees employer-contributed health, dental, vision and life insurance, 401(K), stock options and a generous number of vacation days. ACV also offers paid parking.
- ACV Auctions offers a large, modern workspace for its employees in the Thomas R. Beecher Jr. Innovation Center in downtown Buffalo. The office is very open to encourage collaboration between employees and teams and does not feature any executive offices, meaning CEO George Chamoun and other executives sit among their subordinates. Employees are welcome to design their own space to feel comfortable. Some workspaces are outfitted with bean bag chairs, mini refrigerators and stocked with snacks.
- ACV Auctions has hired 250 employees in the past 12 months and plans to hire 250 more in the coming year.
Employer of the Year Summary
-February 2018 – ACV Auctions raises $31 million in Series C funding, bringing their total funding to $53 million. This funding would go toward expanding ACV to the West Coast.
-February 2018 – ACV becomes an official partner of NIADA (National Independent Automobile Dealers Association).
-March 2018 – Dealer Marketing Magazine names ACV Auctions the app of the month.
-April 2018 – A 2017 Mercedes-Benz G550 is sold on the ACV Auctions app for just shy of $240,000, the most expensive sale made through ACV to date.
-April 2018 – ACV is reportedly valued at more than $200 million.
-May 2018 – ACV Auctions online sales in March reach over 7,000 units. This number marks a 400 percent increase in sales from May of 2017.
-In February 2018, ACV expanded to work with dealers in 70 markets across the country.
-ACV Auctions has over 180 employees in Western NY and over 370 employees nationwide.