Ernest Garcia, III

{ "bio": [ "Ernest Garcia III is the CEO and cofounder of Carvana, an ecommerce platform for buying and selling used cars.", "Garcia launched Carvana in 2012 as a subsidiary of DriveTime, a traditional used car business that operates 126 dealerships in 25 states.", "Garcia started Carvana as a way to sell used cars directly instead of relying on middlemen; the company also offers financing services.", "In 2017, the Garcias spun Carvana out of Drivetime in an IPO that raised $225 million.", "His father, Ernest Garcia II, owns and runs DriveTime. He helped fund the initial development of Carvana and remains its largest shareholder." ], "about": [ "In 2018, Garcia gave $35 million worth of his personal stock to Carvana employees to commemorate the company selling its 100,000th car." ] }