BacklotCars co-founder set to be honored as UMKC’s regional Entrepreneur of the Year
September 22, 2022 | Startland News Staff
A founder who helped drive one of the metro’s biggest startup exits is expected to be heralded in October as UMKC’s Kansas City Entrepreneur of the Year.
Justin Davis, co-founder and CEO of BacklotCars, will take the stage Oct. 12 alongside five other honorees — business leaders who have shaped entrepreneurship, according to officials at the Henry W. Bloch School of Management at the University of Missouri-Kansas City.
In fall 2020, BacklotCars posted a then-record $425 million exit, selling the Kansas City-headquartered auto platform to KAR Global.
“What we’ve shown in Kansas City is that we can build something really, really great,” said Davis in December 2020, reflecting on the sale’s close and its projected ripple effect. “It’s our duty now as the professionals, as the corporates, as the venture capitalists in the community to help make these companies great, because it creates a lot of wealth and gives this region experience.”
BacklotCars co-founders: Josh Parsons, Fabricio Solanes, Justin Davis, and Ryan Davis
Davis and co-founders Josh Parsons, Fabricio Solanes, and Ryan Davis had by late 2020 grown the BacklotCars team to more than 150 — many of whom had equity in the company — since its founding in 2014.
“Now they can take that capital and invest back into our region,” Davis said of BacklotCars’ employees who earned a payout with the massive deal.
Click here to read about how Anders Ericson, former vice president of sales at BacklotCars, recently launched the digital auto retailer startup Whipz.
“I would challenge people to get off the sidelines and get in the game. Help one another,” Davis said. “There’s not this secretive nature to why Silicon Valley works well: people buy in and are supportive. I think there’s a massive opportunity here. We were just one part of the story, and this region has a tremendous potential and groundwork to do something very amazing.”
BacklotCars’ historic exit was only surpassed this week, when Rx Savings Solutions — led by founder Michael Rea, UMKC’s 2019 Kansas City Entrepreneur of the Year — announced the expected acquisition of his startup for $875 million by The McKesson Corporation.
Click here to see more past winners.
The full list of 2022 Entrepreneur of the Year honorees includes:
- David Steward, founder and chairman of World Wide Technology (Henry W. Bloch International Entrepreneur of the Year)
- Justin Davis, co-founder and CEO of BacklotCars (Kansas City Entrepreneur of the Year)
- Jay Coen Gilbert, Andrew Kassoy, and Bart Houlahan, fo-founders of B Lab Global (Marion and John Kreamer Award for Social Entrepreneurship)
- Student Entrepreneur of the Year — Not yet announced
The Entrepreneur of the Year awards program is set for 7 p.m. Oct. 12 at Plexpod Westport Commons.
Click here to register for the event.
Featured Business
2022 Startups to Watch
stats here
Related Posts on Startland News
What’s Kansas City doing at SXSW 2017 this year?
March is about to get weird. Startland News is once again returning to the weirdness of Austin, Texas, for the annual insanity that is the SXSW Conference. Like last year, we’ll be venturing to the Lone Star State to report on the Kansas City contingent at arguably the nation’s top conference for innovative ideas: South-by-Southwest…
Olathe-based Flow Forward raises $1M for vascular device
After completing a preclinical study, Olathe-based Flow Forward Medical nabbed another round of capital for its vascular device. The firm raised another $1 million from a group of unnamed, individual investors, bringing the firm’s total raised to $7 million. Flow Forward created the AFE blood pump system, which is designed for temporary use to quickly…
Park Hill toured the country for its new innovative learning program
The Park Hill School District is introducing a new approach to learning that aims to cultivate more innovative thinking among its students. Starting in Fall 2017, Park Hill conceptualized the LEAD Innovation Studio, a high school in which students will focus on project-, problem- and professional-based learning. The studio aims to not only address growing…
International coworking firm WeWork taps Crossroads for big space
WeWork, an international coworking firm with offices in 37 cities and 12 countries around the globe, is snagging four floors in Kansas City’s Corrigan Station for a new 40,000 square feet space. With locations in Hong Kong, London, Buenos Aires, New York City and many others, the cosmopolitan coworking company will occupy the third through…