Carvana

Company research

Public company, workplace, funding, and market signals

Updated Aug 5, 2026

Overview

Carvana is a U.S. e-commerce automotive retailer that lets consumers shop for, finance, trade in, sell, and receive used vehicles through a primarily online experience, with delivery or local pickup. Its vertically integrated model combines vehicle sourcing, inspection/reconditioning, financing, logistics, wholesale auctions, and post-sale support.

Primary product

Online used-vehicle marketplace and end-to-end vehicle purchase, sale, trade-in, financing, delivery, and pickup platform.

Founded

2012

Headquarters

300 E. Rio Salado Parkway, Tempe, Arizona 85281, United States

Team size

Over 23,100 full- and part-time employees as of December 31, 2025

Work style

Flexible

Industry

Automotive e-commerce and retail

Sub-industry

Online used-car dealership, automotive finance, logistics, and wholesale vehicle auctions

Offices

Tempe, Arizona headquarters

Carmel, Indiana

Atlanta, Georgia

U.S. inspection centers, logistics hubs, vending-machine locations, and ADESA facilities

Business model

Direct online retail of used vehicles

Vehicle acquisition, trade-in, and wholesale auctions

Consumer vehicle financing and loan origination

Ancillary products and services

Vertically integrated inspection, reconditioning, transportation, and delivery

Funding

Stage

Public company; IPO in 2017

Total raised

$935M

Latest round

Initial public offering · Apr 2017

Latest amount

$225M

Post-IPO financing

Nov 2018

Initial public offering

Apr 2017

$225M

Line of credit III

Jan 2017 · Ally Financial

Series C

Aug 2016

$160M

Conventional debt / line of credit

Feb 2016 · Ally Financial

Series A

Jan 2012

People & investors

Leadership

Ernest Garcia III

Founder, President, Chief Executive Officer, and Chairman

Benjamin Huston

Co-Founder and Chief Operating Officer

Ryan Keeton

Co-Founder and Chief Brand Officer

Mark Jenkins

Chief Financial Officer

Daniel Gill

Chief Product Officer

Thomas Taira

President, Special Projects

Paul Breaux

Vice President, General Counsel, Secretary, and Chief Compliance Officer

Christina Keiser

Executive Vice President, Strategy

Investors

Ally Financial

DriveTime Automotive Group

Greenoaks

Public shareholders

Work & culture

Founder-led, high-performance and execution-oriented culture emphasizing customer experience, technology, ownership, continual learning, inclusion through Carvana Communities, and community service. Work arrangements vary materially by role and location: some roles are fully onsite, while some engineering roles are remote or location-flexible.

Work style

Flexible

Compensation

Public job postings commonly advertise competitive salary, Carvana stock compensation, benefits, and role-specific perks; postings ask candidates for desired compensation ranges. No reliable company-wide compensation range was established.

Benefits

Medical, dental, and vision insurance

$0-premium HDHP employee coverage option

401(k) with company match

Tuition reimbursement

Paid parental leave

Paw-ternity leave

Vehicle discounts

Wellness program

Birthday holiday

Pet-care discounts

Employee referral program

HSA contributions

Dependent-care FSA

Student-loan payment assistance for some roles

Product & market

Pricing

Vehicle-specific listed prices plus financing interest, delivery or pickup terms, trade-in economics, and optional ancillary products; Carvana emphasizes transparent, no-haggle pricing and a seven-day return policy.

Differentiators

—Entirely online purchase and sale workflow
—Home delivery and local pickup
—Nationwide inventory and logistics network
—Car vending machines and distinctive fulfillment experience
—Transparent, no-haggle pricing
—Seven-day return policy
—Vertically integrated inspection, reconditioning, financing, logistics, and wholesale capabilities
—Proprietary technology and AI for customer service, logistics, vehicle presentation, and credit

Technology

Microsoft Azure

Azure Kubernetes Service

Azure Cosmos DB

Azure AI Foundry

GitHub Copilot

C# and .NET

React

TypeScript

GraphQL

Python

PostgreSQL

Kafka

Service Bus

Azure Functions

Micro-frontends

Machine learning and generative AI

Automated 360-degree vehicle photography

Proprietary logistics, loan-origination, and credit-scoring systems

Customers

U.S. consumers shopping for used vehicles

Consumers selling or trading in vehicles

Consumers seeking vehicle financing

Wholesale vehicle buyers and auction participants

Competitors

CarMax

AutoNation

Lithia Motors

CarGurus

Cars.com

TrueCar

Vroom

Shift

Traditional franchised and independent used-car dealers

Scale & contact

Estimated revenue

Approximately $20B-$25B annually; reported 2025 revenue was $20.322B.

Signals & risks

Acquisition

Jan 2022

Acquired ADESA U.S. physical auction business, adding 56 locations and substantial integration, reconditioning, infrastructure, and capital requirements.

Source

Layoff

The company restructured operations and debt and reduced headcount by more than 4,000 during the shift from growth to cost cutting, according to reporting summarized in public sources.

Source

Other

Jan 2025

Hindenburg Research published a short report alleging accounting and related-party concerns involving DriveTime; these were allegations, not established findings.

Source

Other

Jul 2026

Record Q2 2026 results were followed by a significant share-price decline after full-year adjusted-EBITDA guidance of $2.7-$3.0 billion fell below some analyst expectations.

Source

Other

Dec 2025

Annual-report risk factors include substantial indebtedness, dependence on capital markets and financing, regulatory and licensing requirements, DriveTime-related-party exposure, rapid-growth execution risk, and competitive pressure.

Source

Latest news

Carvana Announces Record Second Quarter 2026 Results

Carvana Investor Relations · Jul 2026

Q2 revenue reached $7.376B, retail units 197,325, net income $513M, and adjusted EBITDA $769M; 2026 adjusted-EBITDA guidance was $2.7B-$3.0B.

Carvana (CVNA) earnings Q2 2026

CNBC · Jul 2026

Reported the record quarter and market reaction to guidance that missed some analyst expectations.

Carvana Announces Record Fourth Quarter and Full Year 2025 Results

Carvana Investor Relations · Feb 2026

2025 revenue was $20.322B, retail units were 596,641, and net income was $1.895B.

Carvana builds efficient, seamless customer experience with agent on Azure

Microsoft · May 2025

Described Carvana’s Azure, AKS, Cosmos DB, Azure AI Foundry, AI-agent, CARE, and GitHub Copilot usage.

Carvana: A Father-Son Accounting Grift For The Ages

Hindenburg Research · Jan 2025

Short-seller report alleging accounting and related-party issues; allegations should be treated as disputed.

Jobs and careers at Carvana

1000 jobs at Carvana

Line Lead Cosmetic Repair - Chesterfield, VA

On-site

Reconditioning

Chesterfield, VA; Chesterfield, Virginia, United States

1d ago

On-site

Full-time