it's John, Ann.
it's not surprise and start, me we you when guys. often Let can
think really back fantastic Thank story setup. is because about I do for think good asking I a that So the a you that's thing.
and and all, quite his and admired first So I IAA John company of some that management have known time. is a
the that As was the in with previous -- repair I a space. business was call, on reminder those the to collision I
total condition, be into And would go or its back considered car in if much cannot obviously So a cars. it John's was would then very loss and to it be ecosystem. then a brought -- former obviously,
team huge vehicle reminder, a of has this leadership in both percentage a insurance as ecosystem. and Also the a background
insight, solutions, out that were a other So and really each accelerate for rolled we XXXX time. transaction for services in journey. anything could looking that's number our becoming one. long became What We've known a marketplace after apparent for strategy our for we
when really forms. about think it, in you that So comes two
of right, incredible that a do to things. businesses and M&A, either added of there's terms or in organic M&A, They capabilities some SmartEquip. at us lot we Rouse in a look terms us. of would to like accelerate capabilities could So have But with
are right? if And to with the is a behind it? you are pick scale, scale you When you, single some have want a do KPI, marketplace, scale, to once capabilities
takes is this time If like there M&A just Organically, drive. an it it, is it's opportunity to magical. to increase
IAA just So let scale. talk our me the about business saw how we from
So the nature the first, of complementary business. completely
Let me explain just again.
For piece the John salvage and primary a here's same. the side is the auction what iron up much solution, yard. shows here's happens up of is at pretty what After of happens. a yellow shows that, at transaction what business, our A IAA, car for our which And largely happens yard.
were We We then it. market channels. one sellers. across needed. out money check from buyers title and if it. then it, We it in it lien a to auction in. is We transact collect inspect many then We then And our of paid
of confidence which synergies and up the it's So wildly economies we've a cost for. us lot at the gives synergies, the signed about -- the obviously that complementary,
What's the and to also nature, cars cyclical business about salvage are incredible countercyclical. salvage actually where cyclical is very similar in is car both it's business ours, although the
cars up of have prices. it's higher turns, used the availability, less lack are prices When the prices. of They cycle lower units units, have and more there's a with when So they but us. same
love. growth to mid- we growth it's And actually a short-, really, growth. and then and in these complementary similarly businesses, there's when about very think So the long-term there's also together. we business, of acyclical then our nature think which growth, and And about
have. The is collective footprint that to shortest most ability obvious example leverage the yard our we
yards. for customers, more lot footprint leverage and Ritchie's can events, they yard so in forth, that on the case means catastrophic so IAA's that quadrupled of we So a
that guys satellite an Ritchie you our as of acceleration we lower means of transportation told customers, For cost yard strategy. and
So that's kind of the very shortest term.
about Midterm, think services.
attachments it's will to or services or vertical you're successful, services outpace growth all-new own is an because much the said party's, incredible. how guys will of our magic we the to of revenue obviously, our third see our to having know services going again, that we're be attach insights marketplace, quicker, So GTV you services
you want move being global now the the to about and leverage and a -- investments bigger on then kind scale X confident think and X any equals X. X of marketplace technology spread a ability then whether to innovation, across why can incredibly, plus of And that long-term much to we're that's mid- you ecosystem you plus return so that accelerate
the story since both I I -- we are ways accelerate scale, of So and constantly, quicker, know combined back to that we to drive knew each are marketplace, looking much other ability XXXX, couldn't drive incredible with there the -- better for to IAA the to think December to move that. I any will two, of carriers, few a team. number And for control -- John suited going insurance the I than am of turn on management it change over we an answer synergies to
