Partnership increases dealer inventory options and borrowing power
E Automotive Inc. d/b/a E INC (TSX: EINC) (the "Company" or "E INC") and EBlock, the leading digital automotive auction marketplace and a sub-brand of E INC, today announced a key partnership with Kinetic Advantage, an industry leader in floorplan technology. The agreement integrates Kinetic Advantage into the EBlock checkout.
The scarcity of automobiles is causing dealers to search for new sources to replenish their inventory. A partnership with EBlock, a well-established fully digital marketplace in Canada and a new player in the U.S marketplace, opens up those sourcing opportunities for Kinetic customers. Kinetic, a strong player in the U.S. floorplan marketplace, becomes a strong source of buying power for EBlock U.S. customers.
"This partnership is a win for our customers in the U.S. Kinetic is a strong floorplan and capital funding source which increases the capabilities of our customers to source the much-needed inventory they seek," said Jason McClenahan, President, and CEO of E INC.
"Kinetic is very pleased to partner with EBlock as a source for inventory to our independent dealers in the U.S. EBlock has a proven track record in Canada and is experiencing exceptionally strong growth in the U.S. Coupled with Kinetic's fast growth and best-in-class service I expect our dealers will greatly benefit from this new partnership," said Marty McFarland, President and CEO of Kinetic Advantage.
EBlock is a brand of parent company E INC. EBlock's online auction empowers dealers, wholesalers, and independent auctions to buy and sell inventory in less time and in a real-time virtual auction that creates the sense of urgency and energy found in a live auction.
Kinetic Advantage is a dynamic floorplan company led by trusted industry veterans. Its core focus is helping its independent dealer partners and team members succeed while providing them with an exceptional and engaging user experience. Kinetic is committed to forging strong partnerships through transparent communication and simple, innovative solutions. Kinetic provides its partners and team members with the support and tools they need to grow throughout their journey.
About E INC.
E INC's mission is to optimize the online vehicle buying, selling, and management experience for automotive dealers and consumers. E INC has a digital platform (the "Platform") that provides automotive dealerships with access to an online wholesale auction marketplace where they can purchase or sell vehicles to other dealers, as well as access innovative software solutions to support dealers' digital retailing and inventory management. Access to E INC's Platform is complemented by ancillary service offerings to assist dealers with supplementary auction-related needs, along with driving consumer traffic to their digital properties and optimizing other business processes. E INC's digital wholesale marketplace goes to market under the brand EBlock, and E INC's digital suite of retail products goes to market under the brand EDealer.
Emma Weisberg Joins Parent Organization of Canada's Fastest Growing Automotive Company
E Automotive Inc. d/b/a E INC (TSX: EINC) (the "Company" or "E INC") today named its first Chief Marketing Officer, Emma Weisberg. Bringing nearly two decades of experience leading marketing and sales for global brands, Weisberg is joining the company's executive leadership team to bring a forward-thinking approach on marketing strategies, rigorous analytics, and purpose-driven communications in support of the company's strategic plan.
"E INC is an innovative technology company transforming the way automotive dealers buy, sell and manage inventory and thus impacting the consumer car shopping experience as well," said Weisberg. "I look forward to bringing my background in the tech sector to help build and accelerate the brand to achieve its full potential."
Weisberg spent eight years working her way up the marketing ranks at Google before leaving to found Blinkbuggy, a mobile app startup that raised more than $1 million and achieved market penetration in the top 100 markets nationwide. Weisberg then joined digital media technology company Yieldbot as the senior vice president of marketplace strategy before being named global CMO of Waze Ads and head of consumer marketing for Waze North America, a community-driven GPS and navigation app, where she drove global business marketing and brand building.
As the publicly-traded parent company of EDealer and EBlock, E INC is an automotive technology company on a mission to optimize the online vehicle buying, selling, and management experience. Ranked as one of the fastest growing technology companies in North America, EBlock is the premier remarketing platform for dealers, wholesalers, and independent auctions, providing a tech-first platform with live virtual lanes, set auction times, and an exciting, uncompromised auction experience. EDealer is Canada's largest auto dealer website provider and a proven leader in automotive inventory syndication, providing technology that minimizes time required by dealers to reach customers with consistent, accurate, merchandised inventory.
"Emma is a highly-experienced and talented marketer with a proven track record of building and modernizing some of the world's largest brands," said Jason McClenahan, CEO of E INC. "With her extensive brand transformation experience and data-driven background, we are confident she will strengthen and propel E INC -- and thus EBlock and EDealer -- to the next level."
Weisberg serves as a board member of WhyHunger and is a mentor to seed-level ventures through Entrepreneurs Roundtable Accelerator and to young professionals through Bonsai. She has presented to audiences worldwide including at One-to-One E-Commerce in Monaco, Coca Cola's Customer Summit in Atlanta, and Adweek LATAM in Mexico and has been covered in leading publications such as Bloomberg, Forbes, Inc. Magazine, and TechCrunch.
EBlock, a leader in the automotive auction industry and sub-brand of parent company, E INC, today announced the acquisition of TradeHelper, a dealer-to-dealer digital auction marketplace, along with its parent company, ESP Auctions, an independent auction located in Montreal.
“This move allows EBlock to expand and strengthen our position in our fastest growing market of Quebec, a vital region of Canada,” said Jason McClenahan, president, and CEO of E INC. “By bringing on more than 100 experienced bilingual team members we can better service our customers in their language of choice. And, by adding 24,000 wholesale transactions and thousands of marketplace participants we will not only strengthen our position in Quebec but we will have a major impact for all our dealers in Eastern Canada.”
ESP Auctions, a second-generation family business, brings 35 years of experience as one of the top independent auctions in Canada. Owner Alain Boisvert teamed with former ADESA CEO Stephane St-Hilaire to acquire the Quebec based digital auction marketplace TradeHelper in December 2019.
“Our customers will benefit from the most robust network of buyers and sellers in the industry and an expansion of products and services that only a combination of physical space and state-of-the-art technology can offer, said St-Hilaire, co-owner of ESP and TradeHelper. “EBlock has the right people, technology, and strategy to boost the tremendous growth the vehicle remarketing industry is going through today. We are excited to be part of it.”
TradeHelper is led by the founder Karl Tremblay. ESP Auctions and TradeHelper will continue to operate as they are, with the teams working towards the mutual goal of selling a vehicle where it makes the most sense for the client.
EBlock was ranked the fastest growing automotive company in Canada. The company is the premier remarketing platform for dealers, wholesalers, and independent auctions, providing a tech-first platform with live virtual lanes, set auction starting and ending times, and an uncompromised auction experience.About EBlock
EBlock, an E INC brand, is a leader in the wholesale automotive market, providing sellers and buyers with a streamlined platform that combines the energy and immediacy of a physical auction together with the convenience and efficiency of a digital one. Find out more about EBlock at eblock.caAbout E INC
E INC is the parent company of EBlock and EDealer, connecting the automotive wholesale and retail experiences together through the development, delivery, and relentless refinement of the online buying experience. E INC’s brands, products, and services help maximize efficiency and cost savings through increased transparency and reduced risk.About ESP Auction and TradeHelper
ESP Auction is a physical wholesale auto auction located inMontreal, Quebecthat acquired TradeHelper, an online dealer-to-dealer auto auction platform inEastern Canada, in December 2019. TradeHelper provides a simple and easy-to-use digital marketplace for buying and selling vehicles from the comfort of your home or office.
TORONTO, ON: EBlock announces that John Brasher will join the executive leadership team as the Chief Operating Officer, focused on the company’s rapid expansion into the United States market.
Brasher brings more than 30 years of automotive auction knowledge and experience to the senior leadership team. He joins EBlock from ServNet, where he held the position of executive director. Prior to that, he was president of Brasher's West Coast Auto Auctions from 2001 to 2016. He worked for two years as a General Manager for ADESA, and was a founding partner of AuctionPipeline in 2005, which is now Auction Edge.
“The transformation to digital in the auction space Is happening now and it’s happening quickly,” Brasher said. “The automotive wholesale business needs a partner that is committed to meeting their customers where they are. I believe EBlock is that partner, and I’m excited to be part of this exciting chapter in our industry.”
EBlock was ranked the fastest growing automotive company in Canada and has been penetrating the US market since launching in 2019. The company is the premier remarketing platform for dealers, wholesalers, and independent auctions, providing a tech-first platform with live virtual lanes, set auction starting and ending times, and an uncompromised auction experience.
“We are excited to have an industry icon like John join EBlock,” said Jason McClenahan, President and CEO of EBlock. “EBlock is seeing tremendous growth, both in Canada and the United States. His experience and passion for the industry, will only accelerate that momentum. I look forward to working closely with John as we shape the digital auction landscape, to the evolving needs of our customers.
Brasher, a third-generation automotive entrepreneur, has served on numerous industry boards and association committees, and has played an active role whenever possible in the remarketing industry. He steps into his new role as COO of EBlock on May 3.
Media Contact: Michelle Besaw-Parks, Marketing Director | firstname.lastname@example.org | (833) 817-7247
EBlock is pleased to announce it placed as the highest ranked automotive company and No. 30 overall on the 2020 Report on Business ranking of Canada’s Top Growing Companies.
"Our growth is rooted in our team’s commitment to developing the best-in-class product for our dealers," said Ryan O'Connor, founder and CIO of EBlock. "When we founded EBlock in 2015 we knew that the future of car auctions was going to be digital, however, we underestimated how fast this would happen. We are very fortunate that our technology back then fully aligned with the automotive industry of today. We are humbled by the overwhelming dealer support that has continued to grow since our very first auction. Thank you to all of our partners and team members for helping us achieve this success."
Launched in 2019, the Canada’s Top Growing Companies editorial ranking aims to celebrate entrepreneurial achievement in Canada by identifying and amplifying the success of growth-minded, independent businesses in Canada. It is a voluntary program; companies had to complete an in-depth application process in order to qualify. In total, 400 companies earned a spot on this year’s ranking.
The full list of 2020 winners, and accompanying editorial coverage, is published in the October issue of Report on Business magazine—out now—and online at tgam.ca/TopGrowing.
"The stories of Canada’s Top Growing Companies are worth telling at any time but are especially relevant in the wake of COVID-19 pandemic," says James Cowan, Editor of Report on Business magazine. "As businesses work to rebuild the economy, their resilience and innovation make for essential reading."
"Any business leader seeking inspiration should look no further than the 400 businesses on this year's Report on Business ranking of Canada's Top Growing Companies," says Phillip Crawley, Publisher and CEO of The Globe and Mail. "Their growth helps to make Canada a better place, and we are proud to bring their stories to our readers."About The Globe and Mail
The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 5.9 million readers every week in print or digital formats, and Report on Business magazine reaches 2.1 million readers in print and digital every issue. The Globe and Mail’s investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.About EBlock
EBlock is a leader in the wholesale automotive market, providing sellers and buyers with a streamlined platform that combines the energy and immediacy of a physical auction together with the convenience and efficiency of a digital one. Visit EBlock.com to learn more.
EBlock announces a strategic partnership and exclusive integration with Auction Edge that will provide brick and mortar auctions with technology to compete in the dealer-to-dealer auction space.
• The partnership will begin with the McConkey Auction Group in the Pacific Northwest in January of 2020, followed by an expansion of the program to other Auction Edge customers nationwide.
• The technology powering the partnership is made possible by an exclusive integration between EBlock and Auction Edge.
"Independent auctions are scrappy and very competitive by nature," Dan Diedrich, CEO of Auction Edge, said. "Integrating Auction Edge with EBlock’s platform gives those auctions proven means to facilitate and expedite digital transactions. It empowers their success via the absolute best online dealer-to-dealer platform."
The EBlock/Auction Edge integration—the first of its kind in the U.S.—will provide McConkey Auction Group (MAG) clients with a state-of-the-art dealer to dealer auction platform (called MAG Now) that complements the buying and selling experience that dealers would expect when attending an auction. Run lists, set auction times, virtual lanes, and units transacting in 60 seconds are just a few reasons why EBlock is growing at 100% YOY in Canada and has now sold over $1 billion worth of vehicles in the D2D space.
“We are selling 5,000 dealer-to-dealer vehicles per month with EBlock in Canada, so when the time came to expand to the U.S., partnering with Auction Edge and piloting with the McConkey Auction Group was the obvious choice,” says Jason McClenahan, CEO of EBlock. “The team at Auction Edge has done an outstanding job building a consolidated buyer base of 50,000 buyers at over 200 auction facilities. Likewise, MAG’s auctions have set an incredibly high bar; the independent auctions have been searching for a better tool than what’s out there, and we firmly believe that through this partnership, we’re bringing them that tool.”
“We’ve always been early adopters, but that doesn’t mean we rush into using a technology for technology’s sake,” says Bob McConkey, President and CEO of MAG and Board Chairman of Auction Edge. “The partnership between EBlock and Auction Edge is the culmination of a lot of research, finding a lot of common ground, and 20 years’ efforts in providing digital solutions for our customers.”
That common ground is what’s at the heart of this new partnership. In addition to McConkey’s unparalleled experience in the industry, both McClenahan and EBlock founder Ryan O’Connor are seasoned auction pros.
“Meeting Bob for the first time it was like wow, this guy really gets it. Even though we were on different sides of the table, we both saw the future of the auction business in identical ways,” said O’Connor. “EBlock was designed with the brick-and mortar experience in mind, and having Bob McConkey validate everything we’ve built is extremely gratifying. Empowering and partnering with physical auctions across the U.S. is a big pivot from disrupting them like we have in Canada. However, when you look at the synergies between EBlock/Edge and the brick-and-mortar footprint across the U.S., anyone who knows this space clearly understands why this partnership makes so much sense.”
Besides enhancing the physical auction experience, EBlock gets brick-and-mortar auctions up and running competitively in the dealer-to-dealer auction space without the infrastructure issues that have plagued other virtual auction providers. The impact of these capabilities will now be expanded by the partnership with MAG and the integration with Auction Edge.
The partnership’s first MAG Now-specific auction event will take place on January 28, with an expansion to independent auctions in the U.S. happening throughout 2020.
EBlock is a leader in the wholesale automotive market, providing sellers and buyers with a streamlined platform that combines the energy and immediacy of a physical auction together with the convenience and efficiency of a digital one.
About McConkey Auction Group
Independently owned McConkey Auction Group (MAG) is the Pacific Northwest’s leading wholesale vehicle remarketing company.
About Auction Edge
Auction Edge is the premier remarketing technology provider to independent auto auctions across the United States, providing platforms and marketplaces for dealers to operate efficiently, dominate locally, compete nationally, and expand their reach globally.
TORONTO, ONTARIO: On the heels of a third consecutive year of triple-digit growth in the Canadian market, EBlock and EDealer announce changes to their leadership team, designed to expand the companies' footprint while continuing to deliver the ultimate online auction and marketing experiences for clients.
• CEO and Founder Ryan O’Connor to step into new Chief Innovation Officer role
• COO and President Jason McClenahan promoted to CEO
"From the moment we joined forces over three years ago, I knew Jason had what it took to help us realize our full potential. His influence on our business has been outsized; from refining our customer experience to steering us through our latest successful capital raise, together with his unmatched understanding of the auction business, has been critical to our success,” said EBlock founder Ryan O’Connor. “The timing is perfect for this. With Jason as CEO, I’ll be able toredouble my focus on delivering an amazing customer experience, which is where my passion’s been since starting EDealer back in 2004."
Before making the switch to EBlock, Jason spent 16 years in the brick-and-mortar auction business, which shaped his understanding of how technology could complement a marketplace that was foundational to the industry’s success, yet ripe for innovation. His work in the Canadian and US markets, together with hand's-on experience at all levels of the brick-and-mortar and digital auction spaces, makes him uniquely capable of leading EBlock in its mission to bring the auction industry into the future.
"When Ryan and I first started working together our visions could not have been more aligned. We come from a world centered around buying and selling cars. We both took a technology-first approach towards improving efficiencies that separate the EBlock experience from everyone else in the space," said Jason McClenahan. "While others have been able to mask inefficiencies with cash, our focus has been on solving real problems with technology. Many people in this space now want to talk about trust and transparency. For me, those are just staples; they’ve always been part of my DNA. These are the main reasons why we've been able to succeed, andmy vision for the future of the auction industry is crystal clear. I am thrilled to be a part of shaping the industry that I know and love.
"During Jason's tenure as President and COO of EBlock, the company and its sister brand, EDealer, have attained massive, sustained growth and success, with headcount growing 65% inthe past year, active clients on EDealer hitting an all-time high, and both brands transitioning over onto a shared technology platform. This period has also seen EDealer become the Canadian auto industry’s number one web solutions provider.
In addition to taking on CIO duties, O’Connor will also become a managing partner. He and McClenahan are joined on the leadership team by CTO Dmitry Vodiansky, whose team is responsible for EDealer's and EBlock's revolutionary platform, along with VP of Finance, Andy Bohlin. Together, they are committed to continuing the company’s methodical approach to growth—for EBlock as well as the clients and industry they serve.
"Though so much has happened with automotive auctions, we're still very early in the game. More change is on the horizon...change that will continue to improve the business—and the experience of doing business—for buyers and sellers alike," said McClenahan. "And we plan on staying at the forefront of that change."
EBlock is a leader in the wholesale automotive market, providing sellers and buyers with a streamlined platform that combines the energy and immediacy of a physical auction together with the convenience and efficiency of a digital one.
EDealer is the premier provider of dealership marketing technology in Canada, providing merchandising automation and vehicle optimization solutions that help dealers reach the maximum number of customers with consistent, accurate, merchandised inventory in the minimum amount of time.
Media Contact:Kate Kovaleva, Marketing Manager | Kate.Kovaleva@EDealer.ca | (437) 229-4276
EBlock, the fastest growing online auction in Canada, today announced that they are open for business in the United States. EBlock has grown exponentially in Canada by establishing valuable relationships with a number of dealers who want to save time and money remarketing their wholesale units. The company's growth has been driven by its unique value proposition that centers around simulating the real auction environment with live lanes, set auction times and run lists that are available pre-auction.
EBlock is launching its US operations out of the head office in Burlington, VT which has been a hotbed for Automotive technology innovation in the last decade, most recently Dealer.com. Beginning in the Northeast, the company will grow strategically by servicing both buyers and consignors in concentrated markets through feet on the street and inside sales and support.
Leading EBlock's expansion across North America is a 17-year auction-industry veteran, Jason McClenahan, who joined the team as President and COO with previous experience at ADESA Canada and TradeREV US. "When I joined EBlock in 2017, the auction business was already being disrupted by technology," he said. "After seeing everything in market, EBlock stood out as the platform that clearly understood what dealers want in an online auction."
The company is offering lucrative incentives for dealers who come on board early, coupled with a large presence at this year's NADA convention in San Francisco.
"Our dealers see the hammer drop on over 200 units per hour and they are incredibly pleased with the results they are experiencing using our technology," said Ryan O'Connor, EBlock's CEO. "Launching in the US around the NADA convention makes perfect sense for us."
The company has an aggressive hiring plan slated for 2019 which includes sales and operations personnel. They are looking forward to making connections with dealers and auction professionals who will be attending the NADA show and visiting their booth #7745W.
EBlock, based in Burlington Vermont, is a true online auction where cars are bought and sold in 60 seconds. The company is committed to helping dealers save time and money by buying and selling wholesale inventory in the most efficient ways possible.