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ACCESSWIRE
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Active-Investors: Blog Exposure - Online Used Car Dealer Carvana Acquires Atlanta-based Start-up Car360

Stock Monitor: CarMax Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 19, 2018 / Active-Investors.com has just released a free research report on Carvana Co. (NYSE: CVNA). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=CVNA as the Company's latest news hit the wire. On April 17, 2018, the Company announced that its subsidiary Carvana Group, LLC has signed an agreement to acquire 100% equity interest in Car360, Inc. The acquisition is expected to enhance customer experience on Carvana's online platform by integrating Carvana's 360-degree photo technology capabilities with Car360's 3D computer vision and augmented reality (AR) technologies. The cash plus stock deal is valued approximately $22 million. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for CarMax Inc. (NYSE: KMX), which also belongs to the Services sector as the Company Carvana. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/'symbol=KMX

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Carvana most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/'symbol=CVNA

Details of the transaction

As per the terms of the agreement signed with the stockholders of Car360, Carvana has agreed to acquire 100% equity interest in Car360; this includes Carvana agreeing to pay approximately $6.7 million in cash plus 930,047 newly issued Carvana's class A common units valued approximately $15.2 million. These units can be converted into 744,037 class A common stock of Carvana. The transaction was completed on April 12, 2018.

Carvana plans to absorb the entire workforce of Car360 including Bruno Francois - Founder, John Hanger - CEO and Grant Schindler, Ph.D. - Chief Computer Vision Scientist.

Commenting on the acquisition of Car360, Ernie Garcia, Founder and CEO of Carvana, said:

"Carvana and Car360 both believe in the power of putting amazing technology in the hands of the customer, so they can make one of the largest purchase decisions of their life with transparency and confidence. Bringing the Car360 team into the fold, we add even more entrepreneurial strength in computer vision, AR and app-based photo capture. This technology unlocks a number of exciting capabilities that will further our mission to change the way people buy cars."

Bruno Francois, Founder of Car360, added:

"Focusing our technology and innovation within the disruptive force Carvana has established in the industry means we can realize the full potential of our technology more quickly, and at significant scale - we're looking forward to seeing what's possible, together."

Why Carvana is excited with the acquisition of Car360?

Carvana is the pioneer in providing a 360-degree vehicle digital tour for used cars which provided high resolution images of the vehicle along with the car's features and imperfections. Carvana used proprietary technology and patented photo studios for providing this feature. On the other hand, Car360 has taken this concept to the next level with web and mobile app-based photo capture and even more immersive viewing capabilities. The car360's capabilities will help Carvana explore other capabilities and change the way people buy cars.

Car360 is the one first commercially available provider of 3D computer vision, machine learning and AR technology for the automotive industry. The acquisition allows Carvana to take advantage of market opportunities as more people are moving to buy cars online rather than from dealerships.

About Car360 Inc.

Atlanta, Georgia-based Car360 was founded by Bruno Francois in 2011 as Egos Ventures. In 2012, Car360 launched a 360-degree panoramic video app called Cycloramic, and at one point, it became the number one app in Apple App Store with over 20 million downloads. This app was noticed by investor Mark Cuban, on the TV program Shark Tank in 2013 following which he made an initial investment and later became a part of the $3.55 million Series A financing for the Company in 2017. In 2015, Bruno shifted the focus of the Company to include augmented vehicle imagery. Car360 went live in 2016.

About Carvana Co.

Phoenix, Arizona-based Carvana was founded in 2012 and is a leading ecommerce platform for buying used cars. Carvana offers consumers an intuitive and convenient online automotive retail platform that makes use of technology to offer exceptional customer service as opposed to the traditional dealership infrastructure. The Company's online platform helps customers through the entire car buying experience from finding their preferred vehicle, qualifying for financing, getting a trade-in value, signing contracts, and receiving as-soon-as-next-day delivery or pickup of the vehicle from one of Carvana's proprietary automated Car Vending Machines.

Stock Performance Snapshot

April 18, 2018 - At Wednesday's closing bell, Carvana's stock declined 1.06%, ending the trading session at $29.78.

Volume traded for the day: 949.15 thousand shares, which was above the 3-month average volume of 503.80 thousand shares.

Stock performance in the last month - up 46.20%; previous three-month period - up 46.12%; past six-month period - up 112.71%; and year-to-date - up 55.75%

After yesterday's close, Carvana's market cap was at $3.93 billion.

The stock is part of the Services sector, categorized under the Auto Dealerships industry. This sector was up 0.9% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

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SOURCE: Active-Investors

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