The Best IPOs to Buy for the Rest of 2017: Carvana
IPO Timetable: First half of 2017 (estimated)
Carvana wants to disrupt the traditional car dealership model.
Arizona-based Carvana operates an online platform where you can select a used car, which has already undergone an extensive certification process. You also can fill out a form to get an appraisal for a trade-in. And when you’re done, you can either have the vehicle delivered to you, or pick up your car at a local vending area. It even offers a seven-day, “no questions asked” money-back policy.
The savings are noteworthy, averaging about $1,500 per vehicle.
Carvana is growing like a weed, with revenues soaring from $140 million in 2015 to $350 million in 2016. And as operators like CarMax, Inc (NYSE:KMX) — which now sports a market capitalization of about $12 billion — have proven, the opportunity to change up the auto industry is massive.