Carvana

carvana
Privately held company
Industry E-commerce / Car dealer
Founded January 2013 (2013-01)
Founder Ernie Garcia, Jr., Ryan Keeton, and Ben Huston
Headquarters Phoenix, Arizona, United States
Area served
 U.S.
Products Used cars
Parent DriveTime
Website www.carvana.com

Carvana, a technology start-up based in Phoenix, Arizona, United States, is an online-only used car dealer that allows customers to shop, finance, and trade in cars through their website.[1] Founded in 2013 and backed by DriveTime,[2][3] Carvana offers nationwide delivery or customers can choose to pick up their car at one of the company's locations after completing the purchase online.[4] Customers in some locations can pick up their car from a car vending machine.[3] Carvana ranked 5th on the Forbes list of America's Most Promising Companies in 2015.[5]

Background

Carvana is an online used car dealer that sells, finances, and buys back used cars through their website.[1][4] The tech start-up company was founded in 2013[3] and is backed by the buy here pay here used car dealer, DriveTime.[2] Carvana is based in Phoenix, Arizona and as of 2016 has locations in Atlanta, Austin, Birmingham, Charlotte, Dallas, Houston, Jacksonville, Miami, Nashville, Orlando, Raleigh, San Antonio, Tampa, Richmond, Washington, D.C. and now Columbus.[6] The company delivers cars to customers anywhere in the country for an additional fee, or customers can pick up their car at one of the company's locations after completing the transaction online.[4]

Forbes ranked Carvana 5th on their list of America's Most Promising Companies in 2015.[5]

Technology

Carvana Atlanta Vending Machine

Potential customers can view images of the interior and exterior of each car in 360 degrees on the company's interactive website.[3][7]

In November 2013, Carvana opened the nation’s first car vending machine in Atlanta, Georgia[8] and in 2015, the company opened the world's first fully automated, coin-operated car vending machine in Nashville, Tennessee.[3][9] The vending machine in Nashville is a five-story glass tower that holds 20 cars at a time.[9][10] After buying the car online, customers who chose to pick up their car in Nashville insert a Carvana-branded coin that's unique to their transaction and allows the machine to recognize their order and release the right car at one of the delivery bays.[3][11]

Competitors

As of 2016, Carvana's competitors included Beepi, Shift, Vroom.com, AutoNation, CarMax, Penske Automotive Group, and Sonic Automotive.[12][13]

References

  1. 1 2 Dahlberg, Nancy (12 Apr 2016), "Online used-car retailer Carvana expanding to Miami", Miami Herald
  2. 1 2 DriveTime Automotive Group, Inc. (31 May 2013), Form S-4 Registration Statement, Washington, DC: United States Securities and Exchange Commission
  3. 1 2 3 4 5 6 Griffin, Justine (5 Apr 2016), "Online car seller Carvana launches in Tampa", Tampa Bay Times
  4. 1 2 3 Farmer, Blake (12 Nov 2015), "Why Nashville's Car Vending Machine Might Be More Than A Gimmick", Nashville Public Radio
  5. 1 2 Strauss, Karsten (21 January 2015). "America's Most Promising Companies: The Top 20 Of 2015". Forbes.
  6. ↑ Carvana Expands into First Midwestern Market with Launch in Columbus
  7. ↑ Leary, Brent (11 Mar 2016), "Ryan Keeton of Carvana: Using Amazon's Playbook, Car Vending Machine to Disrupt Used Car Industry", Small Business Trends
  8. ↑ Gastelu, Gary (2 Dec 2013), "Carvana opens used car vending machine in Atlanta", Fox News, retrieved 15 Apr 2016
  9. 1 2 Jaynes, Nick (12 Nov 2015). "There's a five-story vending machine dispensing used cars in Nashville". Mashable. Retrieved 15 Apr 2016.
  10. ↑ O'Kane, Sean (12 Nov 2015). "A five-story vending machine for cars just opened in Nashville". The Verge. The Verge.
  11. ↑ Guff, Samantha (16 Nov 2015). "Giant Car Vending Machine Serves Up Hot New Wheels". Huffington Post.
  12. ↑ Hirsch, Jerry (2 Aug 2015), "Cutting Edge Virtual used-car dealers gain traction", Los Angeles Times.
  13. ↑ Cella, Jason (2016), "Carvana, LLC", in Drew D. Johnson, International Directory of Company Histories, Vol. 176, Farmington Hills, MI: St. James Press. Gale Virtual Reference Library, pp. 84–87

External links

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