Ally has significantly increased their current loan purchase program with Carvana, a platform for buying and selling cars; the two...
Carvana is working with Wells Fargo and Bank of America on plans for a US initial public offering (IPO); the company is one of a few specialist providers selling used cars and offering auto financing through the internet with automated towers storing vehicles in cities such as Austin, Dallas and Nashville; Reuters reports the company has a valuation of $2 billion and is planning for its IPO in the first half of 2017. Source
Carvana has filed for a US initial public offering (IPO) and plans to list its shares on the New York Stock Exchange with the ticker symbol CVNA; the online auto dealership sells its cars from vending machines located across the US; the company is planning to raise $100 million from the IPO and is working with investment bankers at Wells Fargo, Bank of America, Citigroup and Deutsche Bank on the deal; its registration statement reports significant risks including higher public registration costs and profitability uncertainty. Source