The Ledger
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Carvana sold more cars after eliminating nationwide free shipping
“And what ended up happening Is as a result, we unclogged our network from sort of wasted excess transport that brought delivery times down for everyone. We have fewer late deliveries from this sort of excess clogging of the network and we sell more cars. So by…”
Stebbings: Thrive and Greenoaks made $500M+ buying distressed Carvana stock
“They made half a billion dollars plus from Carvana in the public markets buying when it was in the dumps and then writing that up.”
Garcia: Carvana's current physical infrastructure can support three million cars
“I think that we are built today. We have infrastructure in like, you know, without diving too much into like the details of what this means, we have infrastructure that I think clearly supports three million.”
Carvana's first-party logistics network can reach 90% of US driveways
“Carvana first party logistics touches 90% of US driveways. So if you can get any car to either coast of the United States, we will get it to 90% of Americans within a week.”
Carvana consolidated from 90 product teams down to eight in 2022
“And so what we did in 2022 is we went from 90 back to eight and we forced so much more Cross-functional prioritization.”
Garcia: Carvana's stock dropped 99% and bonds traded at 40 cents
“In, in, in, in, in, in, in, in, in, our stock went down nine to nine percent. Our bonds were trading at like 40 cents on the dollar.”
Carvana's market cap went from $2B to $60B, $500M, then $50B
“We IPO'd at about two. We peaked at about sixty billion. We dropped back down to five hundred million, and we're back to fifty billion.”
Carvana recruits product managers internally from frontline roles like delivery drivers
“We have a number of product managers in our organization that were customer advocates. They were on the phones listening to customers and dealing with customers all day, every day. We have ones that were loan underwriters. We have ones that did home delivery o…”