OPLN - OPENLANE • Growth

Openlane Inc., formerly known as KAR Auction Services, Inc., is a global operator of digital marketplaces for wholesale used vehicles. The company facilitates the buying and selling of used vehicles through its online platforms, serving a diverse customer base that includes vehicle sellers such as fleet operators, rental companies, financial institutions, and dealers, as well as vehicle buyers, primarily franchised and independent dealers. Openlane provides a comprehensive suite of end-to-end remarketing solutions, which include vehicle inspection, reconditioning, titling, transportation, and financing services. These offerings are designed to streamline the wholesale vehicle transaction process, enhancing efficiency, transparency, and data-driven decision-making for its customers. The company operates under various prominent brands, including OPENLANE, ADESA, and TradeRev, with a significant presence in both North American and European markets. The rebranding to Openlane Inc. in May 2023 underscored the company's strategic pivot and commitment to its digital-first approach and innovation within the automotive remarketing sector. Openlane's mission is to leverage technology to create the most trusted, innovative, and efficient digital marketplace for used vehicles, empowering customers to transact with confidence and ease.