Carvana

Carvana is an online used car retailer based in Tempe, Arizona. The company is known for its multi-story car vending machines, and in 2018 it was reported to be the fastest growing used car dealer in the United States.
History.
Carvana was founded by Ernest Garcia III, Ryan Keeton and Ben Huston in 2012. The company's initial funding round came from the used car retailer and finance company, DriveTime.
In November 2013, Carvana opened its first iteration of a car vending machine. In 2015, a fully automated, coin-operated version of the signature car vending machine opened in Nashville, Tennessee.
In April 2017, the company went public and began trading on the New York Stock Exchange under the symbol CVNA.
As of March 2021, Carvana's as-soon-as-next day delivery was available in 272 markets across the country. In Q2 of 2020, the company reported a 25% increase in vehicle sales, as a result of physical dealership sellers being closed as a consequence of the COVID-19 pandemic. Carvana's had a gross revenue of $1.12 billion, up 13% for the months April–June 2020.
The "Houston Chronicle" dubbed the company the “Amazon of Auto”. In 2020, it sold 244,111 vehicles and posted annual revenue of $5.587 billion, making it the second largest used-car retailer in the U.S.
Merger and acquisitions.
In 2017 Carvana acquired rival automotive startup Carlypso to enhance vehicle data and analytical tools. In April 2018, Carvana spent $22 million to acquire Mark Cuban-backed Car360 for its smartphone technology for taking vehicle photos with 3D computer vision, machine learning, and augmented reality.
Community support programs.
In December 2020, Carvana donated 21 vehicles to 21 team members nationwide who were nominated by their peers for their perseverance and hard work during the pandemic. In 2021, Carvana launched a tuition reimbursement program, Carvana KEYS (Keeping Education in Your Sight), to assist team members pursuing the completion of an undergraduate degree.
Carvana is a sponsor of the National Hockey League's Carolina Hurricanes, USL Championship's Phoenix Rising Football Club since 2018, and IndyCar Series driver Jimmie Johnson since 2021.