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Most online instant cash offer tools use an algorithm that looks at vehicle sales price data, condition information, market conditions and trade-in ranges for similar vehicles, among other things.
The company's flagship product is AutoTrader, an online marketplace for buying and selling new and used vehicles. The company is owned by private equity firm Thoma Bravo. The company was originally a part of Trader Classified Media, which was founded in 1987 by John MacBain. Trader Corporation’s current CEO and President is Sebastian Baldwin.
It offers online sales via its website waldos.com.mx and also has a mobile app. As of 2023, the company states that it has about 12,000 e-commerce transactions a month, increasing to about 20,000 a month nearer the year-end holidays, and that the average e-commerce transaction is about 6 times larger than in-store transactions.
A woman in Columbus, Ohio, was robbed at gunpoint in 2018 when she attempted to sell a camera and lens to a buyer who saw her listing on LetGo, which at the time was independent from OfferUp. [50] In 2019, KIRO-TV reported that a woman in Tacoma , Washington found her stolen weed wacker on OfferUp and arranged to meet the seller in person.
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