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Buffalo based ACV goes public

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Posted at 4:43 PM, Mar 24, 2021
and last updated 2021-03-24 16:43:43-04

BUFFALO, N.Y. (WKBW) — From Ellicott Street to Wall Street, Buffalo based ACV is officially listed on the floor of the Nasdaq in New York City.

ACV CEO George Chamoun said the process of attracting investors actually began several weeks ago.

“It’s been a long two weeks of early mornings and late nights,” he explained.

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ACV is listed on Nasdaq for first time.

The company’s flagship product allows auto dealers to buy and sell wholesale cars with the ease of an app. Chamoun said becoming a publicly traded company helps raise additional capital for growth.

“Near $400 million we’ve raised in capital is very helpful because you can put that capital to work whether that be additional territory, R&D, we’ve been growing our team,” said Chamoun. “If we find the right product, or feature or team that belong in our family, we now have the currency to do that.”

ACV is no stranger to the local spotlight. In 2015, it won the 43 North’s annual startup competition, and received a one million dollar prize in exchange for 5% equity of the company.

ACV becomes the first 43 North company to go public.

“It’s proof that anything can happen in Buffalo. We think this will help us tell our story more, gain a little bit more attraction to our application,” said 43 North President Colleen Heidinger.

43 North’s 2021 competition is slated for May and June. Specific details haven’t yet been released. But, if you have an idea, Heidinger is encouraging you to consider applying. You might just find your company publicly traded if you do.