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ADESA

adesa.com

Founded Year

1989

Stage

Acquired - II | Acquired

Valuation

$0000 

Revenue

$0000 

About ADESA

ADESA, a business unit of KAR Auction Services, provides customers with a whole car auction solution. The company serves two main client types: institutional customers and dealers. It was founded in 1989 and is based in Carnel, Indiana. In February 2022, ADESA was acquired by Carvana.2B.

Headquarters Location

13085 Hamilton Crossing Blvd.

Carmel, Indiana, 46032,

United States

800-923-3725

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ADESA Patents

ADESA has filed 1 patent.

The 3 most popular patent topics include:

  • Aquanauts
  • Energy conservation
  • Heat pumps
patents chart

Application Date

Grant Date

Title

Related Topics

Status

5/9/2018

11/10/2020

Aquanauts, Heat pumps, IPad, Classes of computers, Energy conservation

Grant

Application Date

5/9/2018

Grant Date

11/10/2020

Title

Related Topics

Aquanauts, Heat pumps, IPad, Classes of computers, Energy conservation

Status

Grant

Latest ADESA News

Carvana Faces Heat Of Slowing Demand, Higher Interest Rates - Carvana (NYSE:CVNA)

Nov 21, 2022

(NYSE:CVNA) Benzinga By Vandana Singh On Friday,Carvana CoCVNAcutsits workforce by about 1,500 people in its second round of lay-offs to match its size with the current environment. According to analysts, its weakening finances mean raising funds would be difficult and costly, and it could run out of cash in a year. Carvanas interest expense nearly doubled early this year when it paid up to getfinancing for an acquisition. In February, it agreed to buy a car-auction business,ADESA Inc, to help boost inventory. Car sales slowed, however. Its cost to finance car purchases is up by three-quarters this year, and some of its real estate has lost value. Meanwhile, car buyers are holding off purchases in the hope that rates will fall. Wall Street Journalwritesthat Carvana became wildly popular among car buyers, with heavy advertising and haggle-free cars delivered to their doors. Carvana thrived when interest rates were low. Its credit line from Ally Financial to buy cars had an average 2.6% interest rate last year, compared with 4.5% at the end of September. S&P Global Ratings warned that Carvanas liquidity likely would erode faster than expected and changed the outlook on its CCC+ rating to negative earlier this month. After closing the ADESA deal, it laid off 2,500 workers. Price Action:CVNA shares are down 4.84% at $7.67 during the premarket session on the last check Monday. AD

ADESA Frequently Asked Questions (FAQ)

  • When was ADESA founded?

    ADESA was founded in 1989.

  • Where is ADESA's headquarters?

    ADESA's headquarters is located at 13085 Hamilton Crossing Blvd., Carmel.

  • What is ADESA's latest funding round?

    ADESA's latest funding round is Acquired - II.

  • Who are the investors of ADESA?

    Investors of ADESA include Carvana, ValueAct Capital, Goldman Sachs, Parthenon Capital and Kelso & Company.

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