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==Background== |
==Background== |
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Carvana is an online used car dealer that sells, finances, and buys back [[used cars]] through their website.<ref name=dahlberg/><ref name=farmer/> The tech start-up company was founded in 2013 and was backed by [[DriveTime]], and is headquartered in Phoenix, Arizona.<ref name=griffin>{{citation|first=Justine|last=Griffin|title=Online car seller Carvana launches in Tampa|url=http://www.tampabay.com/news/business/retail/online-car-seller-carvana-launches-in-tampa-bay/2271879|newspaper=Tampa Bay Times|date=5 Apr 2016}}</ref> The company delivers cars to customers, or customers can also pick up their purchased vehicle from one of the company's car vending machines.<ref name=farmer/> |
Carvana is an online used car dealer that sells, finances, and buys back [[used cars]] through their website.<ref name=dahlberg/><ref name=farmer/> Several investigations into the company and their alleged deceptive practices have been opened after [https://www.bbb.org/phoenix/business-reviews/online-car-dealers/carvana-llc-in-phoenix-az-1000037076/reviews-and-complaints numerous complaints] that the company is in fact a large scale scam. The tech start-up company was founded in 2013 and was backed by [[DriveTime]], and is headquartered in Phoenix, Arizona.<ref name=griffin>{{citation|first=Justine|last=Griffin|title=Online car seller Carvana launches in Tampa|url=http://www.tampabay.com/news/business/retail/online-car-seller-carvana-launches-in-tampa-bay/2271879|newspaper=Tampa Bay Times|date=5 Apr 2016}}</ref> The company delivers cars to customers, or customers can also pick up their purchased vehicle from one of the company's car vending machines.<ref name=farmer/> |
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==Technology== |
==Technology== |
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Revision as of 18:55, 22 November 2017
| File:Carvana-Logo.png | |
| Company type | Public |
|---|---|
| NYSE: CVNA | |
| Industry | E-commerce / Car dealer |
| Founded | January 2013 |
| Founders | Ernie Garcia, Jr., Ryan Keeton, and Ben Huston |
| Headquarters | , |
Area served | U.S. |
| Products | Used cars |
Number of employees | 21,000  |
| Website | carvana |
Carvana, a technology business start-up based in Phoenix, Arizona, is an online-only used car dealer that allows customers to shop, finance, and trade in cars through their website.[1] Founded in 2013,[2][3] Carvana offers both nationwide delivery, or the option for customers to pick up their vehicle purchases at one of the company's car vending machine locations after completing the purchase online.[4][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] Several investigations into the company and their alleged deceptive practices have been opened after numerous complaints that the company is in fact a large scale scam. The tech start-up company was founded in 2013 and was backed by DriveTime, and is headquartered in Phoenix, Arizona.[3] The company delivers cars to customers, or customers can also pick up their purchased vehicle from one of the company's car vending machines.[4]
Technology
Potential customers can virtually tour the interior and exterior of each car in 360 degrees on the company's interactive website[3][6]
In November 2013, Carvana opened a three bay "car vending machine" in Atlanta, Georgia that allowed people to pick up a car they had bought online, or to buy one of the cars without dealing with a sales person.[7] and in 2015, the company opened an automated version of its car vending machine in Nashville, Tennessee—a five-story glass tower that holds 20 cars at a time.[3][8][8][9] After buying a car online, customers who chose to pick up their car from a car vending machine location by finding their transaction into a kiosk at the site or by inserting a special coin into a receptacle at the site.[3][10]
Competitors
As of 2016[update], Carvana's competitors included Carlypso, Shift, Vroom.com, AutoNation, CarMax, Penske Automotive Group, and Sonic Automotive.[11][12]
Beepi was a competitor but started closing down in December 2016.[13]
References
- ^ a b Dahlberg, Nancy (12 Apr 2016), "Online used-car retailer Carvana expanding to Miami", Miami Herald
- ^ DriveTime Automotive Group, Inc. (31 May 2013), Form S-4 Registration Statement, Washington, DC: United States Securities and Exchange Commission
- ^ a b c d e f Griffin, Justine (5 Apr 2016), "Online car seller Carvana launches in Tampa", Tampa Bay Times
- ^ a b c Farmer, Blake (12 Nov 2015), "Why Nashville's Car Vending Machine Might Be More Than A Gimmick", Nashville Public Radio
- ^ Strauss, Karsten (21 January 2015). "America's Most Promising Companies: The Top 20 Of 2015". Forbes.
- ^ Leary, Brent (11 Mar 2016), "Ryan Keeton of Carvana: Using Amazon's Playbook, Car Vending Machine to Disrupt Used Car Industry", Small Business Trends
- ^ Gastelu, Gary (2 Dec 2013), "Carvana opens used car vending machine in Atlanta", Fox News, retrieved 15 Apr 2016
- ^ a b Jaynes, Nick (12 Nov 2015). "There's a five-story vending machine dispensing used cars in Nashville". Mashable. Retrieved 15 Apr 2016.
- ^ O'Kane, Sean (12 Nov 2015). "A five-story vending machine for cars just opened in Nashville". The Verge. The Verge.
- ^ Guff, Samantha (16 Nov 2015). "Giant Car Vending Machine Serves Up Hot New Wheels". Huffington Post.
- ^ Hirsch, Jerry (2 Aug 2015), "Cutting Edge Virtual used-car dealers gain traction", Los Angeles Times.
- ^ Cella, Jason (2016), "Carvana, LLC", in Drew D. Johnson (ed.), International Directory of Company Histories, vol. Vol. 176, Farmington Hills, MI: St. James Press. Gale Virtual Reference Library, pp. 84–87
{{citation}}:|volume=has extra text (help) - ^ Chernova, Yuliya (16 February 2017). "Beepi Winding Down After Burning Through $150 Million". Wall Street Journal. Retrieved 17 February 2017.