Carvana Co (CVNA)

Carvana runs an online platform for buying, selling, and financing used cars, aiming to digitize a transaction that traditionally involves dealership visits, price negotiation, and paperwork. Customers browse inventory via 360-degree imagery, secure financing, value a trade-in, and complete the purchase from a screen — receiving delivery at home or collecting the vehicle from one of the company's signature multi-story car vending machines. Behind the storefront sits a vertically integrated operation: vehicle acquisition from consumers and auctions, inspection and reconditioning centers, and a proprietary logistics network that moves cars between facilities and customer doorsteps. The reconditioning step standardizes vehicle quality, with each car passing through a multi-point inspection before listing.