The SoftBank-backed automotive e-commerce platform developer priced its initial public offering above the range and hit a $4.8bn valuation yesterday.

ACV Auctions, a US-based online automotive marketplace backed by telecommunications and internet group SoftBank raised approximately $416m yesterday when it floated on the Nasdaq Stock Market.

The company priced more than 16.5 million shares at $25.00 each, above a $20 to $22 price range that had already been lifted from $16 to $20. They closed at $31.25 yesterday, giving it a market capitalisation of about $4.8bn.

Founded in 2014, ACV runs an e-commerce platform where traders can buy and…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Robert Lavine

Robert Lavine is special features editor for Global Venturing.
Email LinkedIn