car dealerships Archive

Carvana raises a $160M Series C to expand its online dealership and car vending machines nationwide

The used car industry is an interesting business. The market is huge – 45 million used cars are bought each year in the U.S. But the biggest player, CarMax, only controls about 2% of the market – but is still valued at about $12 billion by Wall Street. So that makes the market not only ripe for disruption, but also extremely lucrative. Carvana is a used car dealer that thinks …