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Traded as NYSECVNA (Class A)
Russell 2000 Component
Industry E-commerce / Car dealer
Founded November 2013; 4 years ago (2013-11)
Founders Ernest Garcia III
Ryan Keeton
Ben Huston
Headquarters Tempe, Arizona, U.S.
Area served
United States
Key people
Ernest Garcia III (Chairman, President, CEO)
Products Used cars

Carvana is a technology business start-up based in Tempe, Arizona. It is an online-only used car dealer that allows customers to shop, finance, and trade in cars through their website.[1] It was founded in 2012 as a subsidiary of DriveTime and was spun out in 2014;[2] it held an IPO in 2017 and Ernest Garcia II, the chairman of DriveTime, was the largest shareholder at the time.[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][5]


Carvana is an online used car dealer that sells, finances, and buys back used cars through their website[1][4] and is headquartered in Phoenix, Arizona.[5] 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]

Carvana was founded in 2012 as a subsidiary of DriveTime Automotive Group and was spun out of Drivetime in 2014.[2] Ernest Garcia II was chairman of DriveTime at the time and controlled most of the shares; Raymond Fidel is DriveTime’s CEO.[3] Garcia's son, Ernest Garcia III, is CEO of Carvana, and, as of June 2017, the elder Garcia was Carvana's largest shareholder.[3] Carvana relies on DriveTime for much of its infrastructure.[3]

Carvana ranked 5th on the Forbes list of America's Most Promising Companies in 2015.[6]

In April 2017, the company went public with an initial public offering.[3]


Carvana Tempe vending machine

Potential customers can virtually tour the interior and exterior of each car in 360 degrees on the company's interactive website.[5][7]

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;[8] 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.[5][9][10] After buying a car online, customers can choose to pick up their car from a car vending machine location by finding their transaction in a kiosk at the site or by inserting a special coin into a receptacle at the site.[5][11]

As of July 2018, there are 13 multi-story Carvana vending machines. The first one went up in Nashville, Tennessee in 2015. Additional eight-story machines followed in Houston, Austin, Dallas, and San Antonio, Texas as well as Raleigh, North Carolina, Jacksonville, Florida, and Tampa, Florida.[12]


As of 2016, Carvana's competitors included Carlypso, National Automotive Brokerage Services (NABS), Shift, ALM Automotive Group,, AutoNation, CarMax, Penske Automotive Group, and Sonic Automotive.[13][14]


As of 2018 Customers setup a forum voicing discontent with the company's customer service.[15]


  1. ^ a b Dahlberg, Nancy (12 Apr 2016), "Online used-car retailer Carvana expanding to Miami", Miami Herald 
  2. ^ a b "Amendment No 2 to S-1/A". Carvana via SEC Edgar. April 17, 2017. 
  3. ^ a b c d e Weinberg, Neil; Metcalf, Tom (6 June 2017). "Cars in Vending Machines, a Fading IPO and an Ex-Con Owner". Bloomberg News. 
  4. ^ a b c Farmer, Blake (12 Nov 2015), "Why Nashville's Car Vending Machine Might Be More Than A Gimmick", Nashville Public Radio 
  5. ^ a b c d e Griffin, Justine (5 Apr 2016), "Online car seller Carvana launches in Tampa", Tampa Bay Times 
  6. ^ Strauss, Karsten (21 January 2015). "America's Most Promising Companies: The Top 20 Of 2015". Forbes. 
  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. ^ 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. 
  11. ^ Guff, Samantha (16 Nov 2015). "Giant Car Vending Machine Serves Up Hot New Wheels". Huffington Post. 
  12. ^ Shop online for a used car then pick it up at this giant vending machine Mashable, March 2018
  13. ^ Hirsch, Jerry (2 Aug 2015), "Cutting Edge Virtual used-car dealers gain traction", Los Angeles Times. 
  14. ^ 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 
  15. ^ "Carvana Forum". 

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