Built to Sell Radio Ep 516 How Joyride Fetched 7x Revenue for a Business Selling Abandoned Cars (Exit Story)
Oct 17, 2025
Stan Marcuse, co-founder of Joyride Auto, shares his journey transforming impounded vehicle auctions into a digital marketplace. He discusses the challenges of traditional auctions and how digitization expanded the buyer base, especially during COVID. Joyride's unique business model led to impressive growth, resulting in a 7× revenue acquisition by a private equity firm. Stan also touches on his future ventures, including Ballast Cash Management, designed to optimize cash flow for businesses.
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Untapped Inventory In Municipal Impounds
- Many impounded vehicles never get reclaimed, creating latent inventory in municipal lots.
- Digitizing auctions exposes that inventory to far more buyers and unlocks value.
Old-School Wednesday Warehouse Auctions
- San Francisco ran live in-person auctions every other Wednesday with buyers inspecting vehicles for an hour.
- Those physical auctions limited participation to people who could show up at 10 AM, leaving many potential bidders out.
Digitize Time-Locked Auctions
- Digitize time-locked events to expand your bidder pool and increase liquidity.
- Make participation asynchronous or mobile-friendly to capture buyers who can't attend in person.