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Carvana Acquires Carlypso

PHOENIX--(BUSINESS WIRE)--Thirty-three markets and five Car Vending Machines strong, Carvana (NYSE: CVNA) has pioneered the new way to buy a car. Today, Carvana is proud to announce it has acquired fellow automotive disruptor, Carlypso, to further enhance Carvana’s momentum.

“When studying wholesale and retail prices in late 2014, we serendipitously discovered abnormally high spreads on some vehicles, which presented amazing deals for our customers”

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Initially established as a peer-to-peer car selling service, Carlypso evolved into a managed marketplace, giving consumers direct access to wholesale inventory. Carlypso focused on ingesting, normalizing and organizing data on vehicles that they could not physically inspect, and scaling that process to analyze over 200,000 cars each day. The company developed proprietary big data, analytics, and machine learning tools to dynamically filter, value and price cars nearly instantaneously without ever actually seeing them; tools that can integrate with similarly purposed proprietary technology Carvana has created.

"We've admired what Carlypso has been doing from a distance, and...