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Joyride Autos Brings on Chief Product and Technology Officer to Scale Marketplace for Undervalued Vehicles
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John D. Krupnik Joins Joyride from Insurance Auto Auctions
SAN FRANCISCO--(BUSINESS WIRE)--
Joyride Autos, the nation’s fastest growing online auction platform and marketplace for undervalued vehicles, today announced that it has brought on John D. Krupnik as the company’s first chief product and technology officer. Krupnik joins Joyride from Insurance Auto Auctions (NYSE: IAA), where he served as chief information officer for 14 years.
“We’re the first mover in a market that historically has been overlooked, and technology innovation is going to be key to our continued success,” said John Wicker, co-founder and CEO of Joyride. “Krupnik is a brilliant technologist with a deep understanding of the problems we’re solving for both sellers and buyers of the growing supply of undervalued vehicles—a category that has never before had a dedicated marketplace.”
Krupnik will be responsible for scaling Joyride’s technology platform, which brings the cumbersome and expensive process of running auto auctions fully online, unlocking new value for both buyers and sellers of unclaimed or aged vehicles. He will build and lead the company’s product, engineering and analytics teams.
“I’ve spent my career in the world of auto auctions, and I’ve never seen a moment that’s more ripe for innovation,” said Krupnik. “The accelerated shift to e-commerce, global supply chain shortage for cars and their parts, and increased average age of vehicles on our roads have all contributed to Joyride’s remarkable early momentum. The opportunity to help lead the Joyride team and innovate in this underserved yet rapidly growing category was an obvious decision for me.”
Since first launching in April 2020, Joyride has already sold 30,000 vehicles on its platform. The company has successfully expanded to California, Texas, Indiana, and Nevada, and recently raised a $2 million seed round to accelerate its entry into new markets.
You can learn more about Joyride, including job openings, at joyrideautos.com.
About Joyride Autos
Joyride Autos is an online auction platform and marketplace that makes it easy to buy and sell undervalued vehicles. With Joyride, sellers get more value without the hassle of transporting cars, and a diverse ecosystem of buyers gets instant access to a previously untapped vehicle supply. The company is headquartered in San Francisco, and its platform is currently live in California, Texas, Indiana and Nevada.
IAA, Inc. is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA's unique platform facilitates the marketing and sale of total-loss, damaged and low-value vehicles. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,000 employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a global buyer base - located throughout over 170 countries - and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to multiple digital bidding and buying channels, innovative vehicle merchandising, and efficient evaluation services, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns.