Description
Vroom is a New York City-based used car retailer and e-commerce company that enables consumers to buy, sell and finance cars online.
History
The company was founded in August 2013 by Marshall Chesrown, Kevin Westfall and Scott Chesrown as AutoAmerica. In November 2014, Elie Wurtman and Allon Bloch joined as co-founders to transform the company into a technological platform and the company was renamed Vroom. Wurtman served as the company's Executive Chairman and Bloch served as CEO. To date, Vroom has raised over $440 million in Venture Capital and Private Equity. It also has a refurbishment facility in Stafford, Texas and was included on Forbes’ list of the Hottest E-Commerce Startups of 2015. Vroom's current CEO is Paul Hennessy, who was previously the CEO of Priceline.com.
In December 2015, the company acquired Texas Direct Auto, a Houston-based company founded in 2002 that is now owned by Vroom but operates as a separate brand. The combined company is profitable and reached $900 million in revenue in 2015. In February 2018, Vroom closed operations in its Whitestown, Indiana facility and laid off approximately 25% of its staff in the New York City and Stafford, Texas locations. In December 2018, Vroom closed a Series G financing round of $146 million led by AutoNation and began scaling its operations again.
