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After co-founding Carvana in 2012 and watching its $60 billion valuation collapse in 2022, Garcia executed one of American retail's most dramatic turnarounds, restructuring the company and returning it to growth while permanently reshaping how consumers buy used cars.
Ernest Garcia III is Co-Founder and CEO of Carvana, the online used car retailer known for its multi-story car vending machines.
Garcia co-founded Carvana in 2012 and took it public in 2017. The company peaked at a valuation over $60 billion, saw its stock collapse during the 2022 auto market downturn, and recovered through 2023-2024 after restructuring. Carvana lets customers browse, finance, and take delivery of cars online.
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