The Factory CEO, Lynn Clark,
and Jerry Clark, the company’s director of technology and development (he’s also Lynn’s husband), started developing the idea for an online car auction platform about two years ago.
Lynn said she’d been in the industry for 35 years, running car dealerships, among other jobs, and two things kept her up at night: “Keeping costs down on the wholesale side of things and making our jobs easier.” So they designed an app, but it quickly evolved into more than just a mobile appraisal tool. The Factory App also includes an online auto marketplace, which means a larger inventory and larger buyer pool. It also means dealers don’t have to drive to auctions and transport cars that don’t sell back to the dealership. Instead they can buy and sell from anywhere.