Joyride Autos, the online auction platform and marketplace for undervalued vehicles including those impounded and abandoned at automotive towing and repair facilities, announced that it has brought on John D. Krupnik as the company’s first chief product and technology officer. Krupnik joins Joyride from Insurance Auto Auctions (NYSE: IAA), where he served as chief information officer for 14 years.
“We’re the first mover in a market that historically has been overlooked, and technology innovation is going to be key to our continued success,” said John Wicker, co-founder and CEO of Joyride. “Krupnik is a brilliant technologist with a deep understanding of the problems we’re solving for both sellers and buyers of the growing supply of undervalued vehicles—a category that has never before had a dedicated marketplace.”
Krupnik will be responsible for scaling Joyride’s technology platform, which brings the cumbersome and expensive process of running auto auctions fully online, unlocking new value for both buyers and sellers of unclaimed or aged vehicles. He will build and lead the company’s product, engineering and analytics teams.
“I’ve spent my career in the world of auto auctions, and I’ve never seen a moment that’s more ripe for innovation,” said Krupnik. “The accelerated shift to e-commerce, global supply chain shortage for cars and their parts, and increased average age of vehicles on our roads have all contributed to Joyride’s remarkable early momentum. The opportunity to help lead the Joyride team and innovate in this underserved yet rapidly growing category was an obvious decision for me.”
Since first launching in April 2020, Joyride has already sold 30,000 vehicles on its platform. The company has successfully expanded to California, Texas, Indiana, and Nevada, and recently raised a $2 million seed round to accelerate its entry into new markets.