ACV facts & figures
BUFFALO, N.Y. — Dan Magnuszewski, co-founder and chief technology officer of ACV Auctions Inc., the leading dealer-to-dealer, online wholesale auction platform, was named to the Buffalo Business First “40 Under 40” class of 2018 list of honorees. Magnuszewski will be recognized at the 27th annual “40 Under 40” luncheon at the Buffalo Niagara Convention Center on Nov. 30.
Each year, 40 young professionals under the age of 40 in the Western New York region are recognized for making a difference at work, at home and in their community. Winners were chosen out of nearly 160 nominations by a panel of judges who are former winners.
As co-founder and chief technology officer of ACV Auctions, Magnuszewski is responsible for overseeing all components of the online auction platform. Since its founding, ACV Auctions has raised over $53 million in venture capital, hired more than 400 employees and attracted talent from companies like Facebook and Amazon.
Co-founders Magnuszewski, Joseph Neiman and Jack Greco won the 43North startup competition with their pitch for ACV Auctions in 2015. They built an online wholesale vehicle auctioning platform that provides franchise and used-car dealerships an efficient and more effective method of buying and selling wholesale vehicles through individual, 20-minute auctions. The company was the $1 million grand prize winner of 43North's 2015 business plan competition.
Magnuszewski has played an integral role in the rapid growth and success of ACV Auctions over the past three years. The ingenuity and accessibility of ACV’s technology have been the cornerstone of it becoming a leader in the wholesale auction industry.
Before co-founding ACV Auctions, Magnuszewski worked for Z80 Labs for two and a half years as managing director. At Z80 Labs, he assisted and mentored local early-stage startups and managed a $5 million venture fund that invested in those companies. He continues to mentor local startups to this day.
Magnuszewski is the co-founder of Blockchain Buffalo, an educational community group focused on teaching and promoting blockchain and other decentralized technologies. He also co-founded a coworking space, CoworkBuffalo, in downtown Buffalo. It provides a rentable, collaborative workspace for individuals and small businesses in the Western New York area.
He is heavily involved in the local tech community. Magnuszewski has served as a tech mentor for UNYstartups.com and the Student Sandbox at the Syracuse Technology Garden. He is a co-organizer of the Buffalo OpenCoffee Club and member of the Western New York chapter of the Computer Science Teachers Association, which promotes computer science education in grades K-12. He co-founded the Buffalo OpenData Working Group to make public data more accessible, promote open data and push for government transparency. An endeavor currently underway is the consolidation of the region's spattering of technology companies in an effort to build a technology corridor downtown.
Magnuszewski also co-founded the first Buffalo Startup Weekend in 2012, a 54-hour event where local entrepreneurs, developers, and anyone interested come together to share ideas and launch a startup. The 2018 event took place this fall.
He currently serves on the Industrial Advisory Board for the University at Buffalo’s Computer Science Department and the IT Advisory Council for Roswell Park Cancer Institute. He also frequently speaks at meetups and universities.
In 2016, Magnuszewski received the Outstanding Young Alumnus Award from the University at Buffalo School of Engineering and Applied Sciences, his alma mater.
To view the complete list of honorees, visit www.bizjournals.com/buffalo.
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