| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
36 |
| Employees |
- |
| Revenues (TTM) (Millions $) |
110 |
| Net Income (TTM) (Millions $) |
-23 |
| Cash Flow (TTM) (Millions $) |
-3 |
| Capital Exp. (TTM) (Millions $) |
3 |
Business Description
PARTS iD, Inc. is a technology-driven digital commerce company that focuses on creating custom infrastructure and unique user experiences within niche markets. It was founded in 2008 with the goal of creating a one-stop digital commerce destination for the automotive parts and accessories market. The company has become a market leader and proven brand-builder, fueled by its commitment to delivering an engaging shopping experience, comprehensive, accurate, and varied product offerings, and continued digital commerce innovation.
The company's technology solution is a data and information platform that enables and facilitates a differentiated digital commerce experience within complex product markets. The deep technology platform integrates software engineering with catalog management, data intelligence, mining, and analytics, along with user interface development that utilizes distinctive rules-based parts fitment software capabilities. To handle the ever-growing need for accurate automotive product and parts data, the company has utilized cutting-edge computational and software engineering techniques, including Bayesian classification, to enhance and improve data records and product information, as well as deliver an engaging user experience.
The company has developed a platform for both digital commerce and fulfillment, relying on insights gleaned from over 14 billion data points related to vehicle parts, a virtual shipping network comprising over 2,500 locations, over 5,000 active brands, and machine-learning algorithms for complex fitment industries such as vehicle parts and accessories. Management believes the company's platform is scalable and can be applied to other complex, multi-dimensional fitment, product portfolio industries, in addition to the seven parts and accessories verticals launched in August 2018.
The company's in-house data catalog houses over 14 billion data points for automobiles and the company's other seven verticals. This data catalog is designed to tie vehicles with parts that fit their specific Year-Make-Model, or YMM, values, including the variations of sub-model, engine size, transmission type, and drivetrain type, as well as to recommend complementary products, such as tools required to install purchased parts and accessories. The company aggregates data from multiple sources, cross-pollinates this data to address any gaps in data sets, enriches the catalog using its proprietary internal data, then applies artificial intelligence to make further improvements.
The company provides its product vendors with access to its large customer base and e-commerce market. The company's 1000+ product vendors can leverage the company's disruptive technology, enhanced fitment data, deep understanding of the market, and large customer database to sell and position their innovative product catalog instantly. The company's virtual, proprietary, and capital-efficient fulfillment model manages its sales volume while carrying minimal inventory. The company has specialized customer support teams which assist customers in navigating through the platform, addressing any technical questions, order tracking, and completing the order.
Company Address: 1 Corporate Drive Cranbury 8512 NJ
Company Phone Number: 642-4700 Stock Exchange / Ticker: NYSE ID
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