Photo: One of Carvana’s “car vending machines” located in Houston, Texas.
Image courtesy of IrinaK at Shutterstock.com
Ernie Garcia is the CEO, chairman, and co-founder of Carvana, an online-only used car dealership. Using the Carvana website, customers are able to browse and compare vehicles, trade in their current vehicle, and even purchase a vehicle. Customers can choose from several different financing options, all from the convenience of their personal computer or mobile device.
This innovative new approach to car sales has already become a big hit in the marketplace. In October 2016, Phoenix Business Journal named Carvana one of the fastest growing private companies in Arizona. But the company has since gone public, and in April 2017, Carvana raised $225 million by selling 15 million shares at $15 each.
When Garcia co-founded Carvana in 2012, it was little more than just another new company in the endless sea of startups. But due to clever marketing and a sustainable business model, the company has reached new heights. The company is currently valued at $1.8 billion.
Garcia has since been pushed into the spotlight as a result of Carvana’s explosive overnight success. In fact, later on this year, on October 12, 2017, Garcia will be delivering a keynote address at the 2017 Venture Atlanta conference.
“Ernie is one of the brightest, out-of-the-box business thinkers in modern history and is responsible for transforming the industry in a way that’s very interesting and powerful,” said Larry Williams, president and CEO of the Technology Association of Georgia (TAG) and a board member at Venture Atlanta. “Since its founding in Phoenix in 2012, Carvana has launched a local presence in 36 markets, including establishing one of its first footprints right here in Atlanta. We could not be more thrilled to have Ernie share his experiences firsthand at this year’s Venture Atlanta conference.”
Prior to Carvana, Garcia worked at the DriveTime Automotive Group, where he held various high level positions from 2007 to 2013. Before DriveTime, Garcia worked as an associate at RBS Greenwich Capital from 2005 to 2006, where he specialized in consumer credit based investments.