Joyride Autos Brings on Chief Product and Technology Officer to Scale Marketplace for Undervalued Vehicles

Rhea-AI Summary

Joyride Autos has appointed John D. Krupnik as its first chief product and technology officer. Previously, he served as chief information officer at Insurance Auto Auctions (NYSE: IAA) for 14 years. Krupnik will enhance Joyride's technology platform, which simplifies the auction process for undervalued vehicles. Since its launch in April 2020, Joyride has sold 30,000 vehicles and raised $2 million to expand into new markets. The company currently operates in California, Texas, Indiana, and Nevada.

Positive

• Appointment of John D. Krupnik as Chief Product and Technology Officer.
• Krupnik’s extensive experience in auto auctions bolsters Joyride's innovation potential.
• Joyride sold 30,000 vehicles since April 2020, indicating strong market demand.
• Raised $2 million seed funding to accelerate market expansion.

Negative

• None.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005026/en/

Gunn Herabat

press@joyrideautos.com

Source: Joyride Autos

FAQ

Who is John D. Krupnik and what role does he have at Joyride Autos?

John D. Krupnik is the first Chief Product and Technology Officer at Joyride Autos, responsible for enhancing the company’s technology platform.

What is the significance of Joyride's recent funding round?

Joyride raised $2 million in a seed round to support its entry into new markets, indicating confidence in its growth potential.

In which states does Joyride Autos currently operate?

Joyride Autos operates in California, Texas, Indiana, and Nevada.

How many vehicles has Joyride sold since its launch?

Joyride has sold 30,000 vehicles since its launch in April 2020.

What experience does Krupnik bring to Joyride Autos?

Krupnik has 14 years of experience as Chief Information Officer at Insurance Auto Auctions, providing him with extensive knowledge in the auto auction industry.