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Carvana Acquires Carlypso

August 10, 2017 0 Comments

Carvana, the online auto sales organization that just made headlines for operating in Detroit, has made an acquisition.

Carvana now has one less competitor in the online used auto sales space. Carvana has acquired fellow online auto sales organization Carlypso.

In a company press release, Carvana founder and CEO Ernie Garcia spoke about the decision to acquire Carlypso saying in part, “We’ve admired what Carlypso has been doing from a distance, and when they walked us through the technology, we realized how unique their solutions were.” Garcia went on to speak positively about Carlypso’s ability to leverage data as part of their vehicle valuation process.

Terms of the acquisition were not disclosed, however this deal is another forward step for Carvana in their online auto sales space, as former competitor Beepi is now out of business.

As part of the acquisition, Chris Coleman and Nicky Hinrichsen, co-founders of Carlypso have assumed the leadership roles at Carvana.

What is your take on Carvana and the online auto sales model? Do you think that this industry is here to stay and will serve as good competition for dealers in the used vehicle space or not? Click here to join the discussion and weigh in on the role of companies like Carvana in the current and future automotive industry.

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