| Market Capitalization (Millions $) |
6,469 |
| Shares
Outstanding (Millions) |
206 |
| Employees |
17,000 |
| Revenues (TTM) (Millions $) |
11,184 |
| Net Income (TTM) (Millions $) |
-1,091 |
| Cash Flow (TTM) (Millions $) |
139 |
| Capital Exp. (TTM) (Millions $) |
130 |
Carvana Co
Carvana Co (NYSE: CVNA) is an American e-commerce platform that offers an online retailer of used cars, featuring a wide range of vehicle brands and models, transparent pricing, and a delivery model that brings the car straight to the customers' doorsteps.
Carvana was founded in 2012 by Ernie Garcia, Jr., Ryan Keeton and Benjamin Huston with a mission to reinvent how people buy used cars by combining technology with a customer-driven approach. The company began testing its innovative car vending machine concept in 2013, a five-story structure that holds 30 cars at a time and dispenses them to customers who have completed the online purchase process.
Today, Carvana has expanded its business model to offer a much wider range of vehicles, including sedans, SUVs, trucks, and minivans. Using their virtual showroom, customers can browse, finance, trade-in, and purchase vehicles online from the comfort of their homes. The website provides 360-degree photographs of the vehicle's interior and exterior, allowing customers to inspect the vehicles virtually before making a purchase.
In addition to its website, Carvana has launched mobile applications for both iOS and Android platforms, making it easier for customers to shop and purchase vehicles on their smartphones. The company also offers financing options, including its own Carvana Financing platform and partnerships with third-party lenders.
Following a purchase, Carvana offers free delivery to customers within a specified radius of any of its 200+ local hubs, including specially-designed flatbed trucks that transport the vehicles securely and safely. Customers can also choose to pick up their purchased vehicles at one of Carvana's signature car vending machines, which are currently located in Atlanta, Nashville, Houston, and other cities across the US.
In terms of financials, Carvana has experienced strong growth since its IPO in 2017, reporting $5.6 billion in revenue in 2020, a 43% increase year-over-year. The company has also continued to expand its market presence, increasing its dealer network to 246 markets, as of June 2021.
Overall, Carvana has disrupted the traditional car buying process by creating a user-friendly, tech-driven platform that offers the flexibility and convenience of online car shopping, making it an attractive option for modern consumers.
Company Address: 300 E. Rio Salado Parkway Tempe 85281 AZ
Company Phone Number: 852-6604 Stock Exchange / Ticker: NYSE CVNA
| CVNA is expected to report next financial results on February 22, 2024. |
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