The potential customer cultivating that DrivenIQ did during NADA Show 2022 in Las Vegas is starting to reap a notable harvest.

The technology company that looks to help businesses best advertise to their ideal customers recently announced that more than 250 dealers have signed on to the company’s new DriveBid platform, powered by Black Book.

The DriveBid platform integrates Black Book’s VIN-specific valuation and VIN decoding data.

The company explained DriveBid is a consumer-driven live trade-in marketplace that can help dealers sell more vehicles while sourcing valuable inventory direct from the consumer.

“It was great to be back to in-person events, and we’re thrilled with the success that we saw in Las Vegas at NADA, our industry’s largest convention,” DrivenIQ chief executive officer Albert Thompson said in a news release. “DriveBid connects dealers who need inventory with consumers who are looking for the best offer for their vehicle in a real-time, easy-to-use online platform.

“DriveBid empowers consumers to watch live bidding and simultaneously communicate with dealers to ask and answer questions, as well as to explore inventory for their next vehicle purchase. Black Book’s data allows us to create transparency in the trade-in and vehicle purchasing process that until now, has never existed,” Thompson continued.

The DriveBid marketplace can allow consumers to place their vehicle into a virtual garage and receive Black Book’s trade-in valuation or valuation range for their vehicle. Dealers can then bid on the vehicle or make a purchase offer.

At the same time, dealers can display their inventory so that consumers can shop for their next vehicle.

“Integrating Black Book’s data into DrivenIQ’s DriveBid platform provides dealers with the data they need to increase their revenue and maximize their profit,” Black Book president Jared Kalfus said in the news release. “Dealers will have up-to-date, precise data so that they can more competitively bid for new inventory, make more desirable trade offers and sell more vehicles.”

For more information, visit DriveBid.com.