Carvana Co. (NYSE: CVNA) is an American firm that serves as a holding company and an eCommerce platform involved in buying used cars while providing a unique and convenient car buying experience for customers. The company was founded in 2012 by Ernest Garcia III, Ryan Keeton, and Ben Huston, with headquarters in Tempe, Arizona, in the United States.
The company trades on the New York Stock Exchange under the ticker CVNA, having gone public in April 2017. Through the Carvana platform, customers can research and identify a vehicle and inspect it using its 360-degree vehicle imaging technology. Furthermore, potential customers can also obtain financing for their preferred cars and warranty coverage. After purchasing vehicles, customers can also schedule the delivery or pick-up times from their mobile or desktop devices.
The company operates through the segments of Vehicle Sales; Wholesale Vehicle Sales, and Other Sales and Revenue.
Carvana main competitors
- Cazoo;
- CarTrade;
- Uxin;
- Roadster;
- Auto1 Group.
Carvana key milestones
In 2017 Carvana acquired automotive startup Calypso as part of enhancing its vehicle data and analytical tools. At the time, Calypso was among Carvana’s main competitors.
In April 2018, the company continued its acquisition advances after spending $22 million to acquire Mark Cuban-backed Car360. Carvana used the acquisition for its smartphone technology for taking vehicle photos with 3D computer vision, machine learning, and augmented reality.
As part of tackling the Covid-19, Carvana emerged as a pioneer of touchless delivery and pick-up in March 2020. As of 2021, Carvana advanced its delivery after launching the as-soon-as-next day delivery feature, available in 300+ markets across the United States
Carvana FAQs
Does Carvana stock pay dividends?
Carvana (NYSE: CVNA) does not pay a dividend.
Has Carvana stock ever split?
Since going public Carvana stock has had zero splits.
How long does Carvana’s approval take?
The delivery time varies depending on factors like the vehicle reconditioning process to meet the set 150 point inspection standards.
