Company Performance Metrics
- Leslie McGehee: CAOPast Role: Liberty Mutual Insurance, Paralegal
- Boris Zhukov: CEOPast Role: Ball State University, Assistant Professor
LetYouKnow, Inc. is a U.S.-based anonymous reverse-auction marketplace for brand new cars where buyers bid lower than their best offer and receive an instant result. Founded in February 2019, LetYouKnow operates nationwide with nearly 150 dealerships signed up to its Dealer Network.
Participating new car dealerships list their brand new cars
anonymously on LetYouKnow. Buyers enter their zip code, choose a search radius, configure the brand new car they want and submit a bid below their best offer.
Buyers and matched dealerships remain anonymous throughout the bidding process. After the buyer submits their bid and payment information for the $799 service and reservation fee (the $799 is included in the accepted bid price, not added on top of it and charged only if the bid is accepted), LetYouKnow’s patented technology instantly determines if the bid is accepted.
If the bid is accepted, the vehicle is reserved, the matched dealership is revealed and the buyer’s bid is locked-in with all dealer fees included. If the bid is not accepted, there is no charge. The buyer may adjust their bid and/or change their new car options, then try again.
When “Ship to Me” is available and selected, shipping is included in the buyer’s bid. Taxes, title, registration and licensing fees are not included in the bid price.
LetYouKnow, Inc. has been granted three U.S. patents and a Taiwan patent. The company also has a patent pending in Canada. LetYouKnow owns registered trademarks including LetYouKnow®, Knowledge Saves®, eKnow® and On The Go, On Your Terms®.
