Purple Wave’s strategic partnership with global auction site will take KS tech international
October 10, 2023 | Tommy Felts
Startland News’ Startup Road Trip series explores innovative and uncommon ideas finding success in rural America and Midwestern startup hubs outside the Kansas City metro.
MANHATTAN, Kansas — A once-in-a-lifetime opportunity is expected to help homegrown auction tech company Purple Wave scale into the global brand its co-founders always dreamed it could be, said Aaron McKee.
Purple Wave on Tuesday announced a “significant” investment from Copart, Inc., as well as a trajectory-boosting strategic partnership with the global leader in online auto auctions.
“We chose this partnership because it helps us gain an international footprint, an unparalleled international auction community, advanced technologies, and domain knowledge that absolutely no other partner could bring to the table,” said McKee, co-founder of online equipment marketplace Purple Wave alongside his wife, Suzy McKee.
The deal allows Purple Wave — a pioneer in the online auction industry, selling items directly from the seller’s location through no-reserve online auctions — to build upon the community of equipment buyers and sellers it has assembled since the Manhattan company’s founding in 2000.
Financial details of the investment and partnership were not disclosed.
“We have worked together to build a partnership that we are all very proud of,” McKee said. “This represents a significant investment, but we are all in from a capital and personal standpoint looking to the future. Capital was not our limiting factor, in fact Suzy and I are literally not taking a dollar of cash off the table in connection with the investment by Copart.”
Click here to check out Purple Wave’s auction platform, which applies its solutions across multiple industries — construction contractors, agricultural producers, fleet owners, and governmental agencies.
Copart leaders recognized the uniqueness of Purple Wave’s digital-first approach, said Jeff Liaw, co-CEO of Dallas-based Copart.
“This collaboration allows us to leverage our collective expertise for the betterment of our respective marketplaces,” said Liaw. “Most importantly, it reflects our shared commitment to creating long-term value through excellence and innovation.”
Copart’s involvement will support Purple Wave’s mission as it continues to be the easiest, most straightforward way to buy and sell equipment, said McKee, noting the founders and leadership team of Purple Wave will continue to lead the company.
“This is all part of the founder-led culture that is deep in the fiber of Copart’s DNA,” said McKee. “We have put together a partnership that is designed for us to continue to operate Purple Wave as partners in an independent company and brand, while still benefiting from shared efficiencies and resources that help both companies better serve our buyers and sellers.”
Aaron McKee, Purple Wave, center, alongside fellow Pipeline Entrepreneurs Bo Lais, Lula, and A.J. Mellott, Ronawk, during the 2023 Pipeline Innovators Gala; photo by Nikki Overfelt Chifalu, Startland News
As a longtime member of Pipeline Entrepreneurs, McKee said, it’s difficult to imagine where Purple Wave would be without the resources provided by the elite network of Midwest founders.
McKee was among the finalists for Pipeline’s 2023 Member Growth Award.
“It’s been a pivotal factor for Purple Wave to achieve the growth, market presence and experience to achieve an opportunity like this,” said McKee. “I have relied on regular mentorship from my Pipeline network at every step of the way through the process of scaling Purple Waves community, and especially while putting together this partnership.”
“It is awesome to look back at the accomplishments and how Pipeline has been there to support me since 2015 when I joined the program,” he added.
This story is made possible by Entrepreneurial Growth Ventures.
Entrepreneurial Growth Ventures (EGV) is a business unit of NetWork Kansas supporting innovative, high-growth entrepreneurs in the State of Kansas. NetWork Kansas promotes an entrepreneurial environment by connecting entrepreneurs and small business owners with the expertise, education and economic resources they need to succeed.
Featured Business
2023 Startups to Watch
stats here
Related Posts on Startland News
KC startup releases ‘eVaccine passport’ with state registry verification, alerts for booster shots
Employers and event organizers hoping to promote safety amid the flourishing Delta variant and the threat of fraudulent CDC vaccine cards have a new tool, said Jeremy Elias, announcing a Kansas City-built solution to track and confirm individuals’ COVID-19 vaccine statuses. TrackMy Verivax empowers businesses to capture data, track compliance, report on vaccine administration and…
A Bible parable helped connect vegan foods to Made in KC cafes; here’s how two sisters planted the seed
Now served at Made in KC cafes across the metro — from the brand’s popular marketplaces to the new Outta the Blue oasis and downtown trolley cafe — vegan goods from Mattie’s Foods arrive on plates thanks to growing hunger for more healthy options, as well as the wholesome ingredients of a community-built business. Between…
Midtown ice cream shop for pups churns out treats, therapeutic ‘doggo date’ spot for pets, people
Bad days especially call for ice cream, Sherri Corwin said, recalling one of her favorite self-care rituals and the way it became her freshly creamed, Midtown-scooped startup — a venture that’s left tails across the metro wagging for waffle cones. “People really do love their pets,” said Corwin, who in February opened Mixed Mutt Creamery —…
How an artisan leatherworker in KC’s historic northeast is making space for more than a hobby
Faye Steiner-Woods returned from a trip to Brooklyn, New York, inspired — eager to prove quality doesn’t have to mean expensive when creativity is used as currency. “I wanted to purchase this really expensive, $50 keychain, and it just seemed ridiculous,” Steiner-Woods laughed, recalling their impulse to buy — and the origins of a business venture,…