Layoffs Hit Cars & Bids As The Enthusiast Car Market Comes Back Down To Earth

[Tragic Bronson]

Car auction sites not doing as well? Or is private equity killing these sites

Enthusiast car paradise is going through some trouble right now. This week, popular Doug DeMuro-founded auction site Cars & Bids laid off a substantial chunk of its workforce, with moderators, business development team members, accountants, and human resources all affected.

While a litany of online car auction sites have launched over the past few years, Cars & Bids is one of the few that seemed to break through the noise, gain real traction, and attract some semblance of stability. So what’s going on? While the true situation and reasoning will remain sealed behind boardroom doors, a deeper look into things paints a picture of an injection of cash, an enthusiast car market returning to Earth, and the possibility of reduced revenue.

Layoffs Hit Cars & Bids As The Enthusiast Car Market Comes Back Down To Earth - The Autopian

Popular online car auction site Cars & Bids just had a big round of layoffs. Let's look at why this might've happened.

www.theautopian.com

 

[CRSKTN]

Private equity is literally any non public equity.

If these sites generated meaningful economics theyd want to grow it and roll in flailing regional competitors.

People arent splurging due to uncertainty.

Capital sponsors arent going to just burn money.

 

[mikeavelli]

Doug is a guy who got ahead start and got popular on youtube for ideas that still miss me. But he has a huge audience and he tried to juggle both the videos and cars and bids. I am sure the numbers were inflated and projections were based on the predicted continued growth and not current insanity happening now.. There just are a finite amount of cars around to sell and the market is now slow. to @CRSKTN point.