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Monday, May 27, 2024
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INNOVATION: ANDY HINRICHS

CEO, DIGITAL MOTORS

WHY: Co-founder of Irvine-based auto fintech company.

Previously co-founder and former CEO of fellow fintech automotive startup AutoGravity.

IN THE NEWS: Digital Motors bought by LA’s TrueCar (Nasdaq: TRUE) for total consideration of $21.8M. Helping accelerate launch of TrueCar’s online marketplace, TrueCar+.

QUOTABLE: Isn’t hoping to render brick-and-mortar dealerships obsolete with Digital Motors’ technology. “We don’t want to create a competition to the traditional car buying experience. We want to augment the physical presence of the dealership with a digital storefront that allows the respective parties to transact in a seamless fashion.”

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