MENU
SEARCHKAR Auction Services will acquire the company that operates as DRIVN for $43 million. The company was founded in 2015 as CarCo Technologies by Groupon cofounders Brad Keywell and Eric Lefkofsky.
CARMEL, Ind. — KAR Auction Services will acquire the Chicago-based company that operates as DRIVN, a B2B data provider that helps used-car dealers set prices based on their local marketplace, for $43 million.
The acquisition of CarCo Technologies Inc. will be completed as a stock purchase transaction. The company was founded in 2015 by Groupon co-founders Brad Keywell and Eric Lefkofsky, along with Kayne Grau and Justin Mahlik.
"KAR has built strong data science solutions and analytical services teams, and we’re developing integrated economic insights and predictive-model service offerings for our customers," said KAR COO Don Gottwald. "The addition of DRIVIN's innovative capabilities will enhance the potential reach and impact of our unique platform."
Grau will continue in his role as chief executive and Mahlik will continue as COO with KAR.
“We’re thrilled to be part of KAR and a culture that shares our entrepreneurial spirit,” said Grau. “With data from more than 40 million transactions and ancillary services performed each year, KAR’s platform provides a unique opportunity to scale, syndicate and evolve DRIVIN’s capabilities. We look forward to powering the future of automotive remarketing for KAR’s businesses and customers around the globe.”
DRIVIN aggregates automotive retail, pricing, registration and other market and economic data from a variety of public and proprietary sources. The insights generated from that data are deployed through predictive pricing, inventory management and vehicle matching tools.
DRIVN will be based in Chicago with several KAR units, including Insurance Auto Auctions, KAR’s salvage auction business unit, and the newly opened ADESA Chicago auction in Hoffman Estates. KAR will now have nearly 600 employees in the Chicago market at eight locations.
Hybrids in particular lead not only EV market share but all power trains on the continent so far this year as gas and diesel continue their decline.
Read More →
Building on a previously announced $26 billion U.S. investment, Hyundai said it will grow its North American lineup and U.S.-based production and parts sourcing.
Read More →
Sony-Honda venture cancels two planned models, the first of which had been pegged for a mid-2026 California delivery debut. The brand’s direct sales had been challenged by the state’s auto dealers, but the venture cites Honda’s EV retreat.
Read More →
Softening prices, rising credit availability and higher tax refunds could be behind February’s sales pace rise and accompanying dip in inventory, according to Cox Automotive.
Read More →
The wholesale automotive market fared remarkably well given the U.S.-Israel war on Iran, Black Book analysts reported.
Read More →
The agency sent warning letters to dozens of auto groups about what it described as illegal practices and urged them to ensure their pricing policies enable transparency with consumers.
Read More →
New-vehicle sales fell year-over-year for the fifth month in a row in February, making retail deliveries the slowest they’ve been since 2023, according to a CarGurus report.
Read More →
The automaker says its California skunk works is already finding efficiencies to lighten traditionally heavy electric vehicles for lower cost, plus extended range.
Read More →
Both vehicle values and conversion rates sped up last week as two segments outperformed in the pre-spring burst of buying.
Read More →
GM says it sells the cheapest electric vehicle in the U.S. market. It explains how it made improvements to the entry-level EV while keeping its price down.
Read More →
