Company Description
OPENLANE, Inc., together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in North America, Europe, the Philippines, and Uruguay.
The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles.
Its digital marketplaces include OPENLANE, a mobile-app enabled solutions that allows dealers to sell and source inventory in the United States.
This segment also provides value-added ancillary services, including inbound and outbound transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative, and collateral recovery services.
This segment sells its products and services through vehicle manufacturers, fleet companies, rental car companies, finance companies, and others.
The Finance segment offers floorplan financing, a short-term inventory-secured financing to independent used vehicle dealers.
The company serves commercial customers and dealer customers. The company was formerly known as KAR Auction Services, Inc. and changed its name to OPENLANE, Inc. in May 2023.
OPENLANE, Inc. was incorporated in 2006 and is headquartered in Carmel, Indiana.
| Country | United States |
| Founded | 2006 |
| IPO Date | Dec 11, 2009 |
| Industry | Auto & Truck Dealerships |
| Sector | Consumer Discretionary |
| Employees | 4,500 |
| CEO | Peter J. Kelly |
Contact Details
Address: 11299 N. Illinois Street Carmel, Indiana 46032 United States | |
| Phone | (800) 923-3725 |
| Website | karglobal.com |
Stock Details
| Ticker Symbol | KAR |
| Exchange | NYSE |
| Fiscal Year | January - December |
| Reporting Currency | USD |
| CIK Code | 0001395942 |
| CUSIP Number | 48238T109 |
| ISIN Number | US48238T1097 |
| Employer ID | 20-8744739 |
| SIC Code | 5500 |
Key Executives
| Name | Position |
|---|---|
| Peter J. Kelly | Chief Executive Officer and Director |
| Sriram Subrahmanyam Ph.D. | Executive Vice President of Operations and President of Services and International Markets |
| James P. Coyle | Executive Vice President and President of North American Marketplaces |
| Brad S. Lakhia | Executive Vice President and Chief Financial Officer |
| Scott A. Anderson | Chief Accounting Officer |
| Michael Eliason | Vice President of Investor Relations and Treasurer |
| Charles S. Coleman | Executive Vice President, Chief Legal Officer and Secretary |
| Tobin P. Richer | Executive Vice President of Marketing and Communications |
| Warren W. Byrd | Executive Vice President of Corporate Development and Real Estate |
| Patrick Ming | Executive Sales Director |
Latest SEC Filings
| Date | Type | Title |
|---|---|---|
| Mar 11, 2024 | 144 | Filing |
| Feb 22, 2024 | S-3ASR | Automatic shelf registration statement of securities of well-known seasoned issuers |
| Feb 21, 2024 | 10-K | Annual Report |
| Feb 20, 2024 | 8-K | Current Report |
| Feb 14, 2024 | SC 13G/A | [Amend] Statement of acquisition of beneficial ownership by individuals |
| Feb 14, 2024 | SC 13G/A | [Amend] Statement of acquisition of beneficial ownership by individuals |
| Feb 13, 2024 | SC 13G/A | [Amend] Statement of acquisition of beneficial ownership by individuals |
| Feb 13, 2024 | SC 13G/A | [Amend] Statement of acquisition of beneficial ownership by individuals |
| Feb 9, 2024 | SC 13G/A | [Amend] Statement of acquisition of beneficial ownership by individuals |
| Jan 22, 2024 | 8-K | Current Report |