Vroom, Inc.

In December 2015, the company acquired Texas Direct Auto, a [[Stafford, Texas|Stafford]]-based company founded in 2002 that is now owned by Vroom but operated as a separate brand.<ref>{{cite news|last1=Kolodny|first1=Lora|title=Vroom Raising $95 Million to Acquire Texas Direct Auto|url=https://blogs.wsj.com/venturecapital/2015/12/16/vroom-raising-95-million-to-acquire-texas-direct-auto/|access-date=19 February 2016|publisher=Wall Street Journal|date=16 December 2015}}</ref> The combined company was profitable and reached $900 million in revenue in 2015.<ref>{{cite news|last1=Mac|first1=Ryan|title=Online Car Startup Vroom Looks To Acquire Leading EBay Car Retailer And Raise $95 Million|url=https://www.forbes.com/sites/ryanmac/2015/12/16/online-car-startup-vroom-looks-to-acquire-leading-ebay-car-retailer/#6321c3d238ce|access-date=19 February 2016|work=Forbes|date=17 December 2015}}</ref> 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.<ref>{{cite web|title=Vroom hits brakes on ambitious plans for central Indiana|date=6 March 2018 |url=https://www.ibj.com/articles/67874-vroom-hits-brakes-on-ambitious-plans-for-central-indiana}}</ref> In December 2018, Vroom closed a Series G financing round of $146 million led by [[AutoNation]] and began scaling its operations again.<ref>{{Cite web|url=https://techcrunch.com/2018/12/11/vroom-nabs-146m-from-autonation-vcs-for-its-online-used-car-marketplace/|title=Vroom nabs $146M from AutoNation, VCs for its used car site|website=TechCrunch|date=11 December 2018 |language=en-US|access-date=2019-01-27}}</ref>

In December 2015, the company acquired Texas Direct Auto, a [[Stafford, Texas|Stafford]]-based company founded in 2002 that is now owned by Vroom but operated as a separate brand.<ref>{{cite news|last1=Kolodny|first1=Lora|title=Vroom Raising $95 Million to Acquire Texas Direct Auto|url=https://blogs.wsj.com/venturecapital/2015/12/16/vroom-raising-95-million-to-acquire-texas-direct-auto/|access-date=19 February 2016|publisher=Wall Street Journal|date=16 December 2015}}</ref> The combined company was profitable and reached $900 million in revenue in 2015.<ref>{{cite news|last1=Mac|first1=Ryan|title=Online Car Startup Vroom Looks To Acquire Leading EBay Car Retailer And Raise $95 Million|url=https://www.forbes.com/sites/ryanmac/2015/12/16/online-car-startup-vroom-looks-to-acquire-leading-ebay-car-retailer/#6321c3d238ce|access-date=19 February 2016|work=Forbes|date=17 December 2015}}</ref> 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.<ref>{{cite web|title=Vroom hits brakes on ambitious plans for central Indiana|date=6 March 2018 |url=https://www.ibj.com/articles/67874-vroom-hits-brakes-on-ambitious-plans-for-central-indiana}}</ref> In December 2018, Vroom closed a Series G financing round of $146 million led by [[AutoNation]] and began scaling its operations again.<ref>{{Cite web|url=https://techcrunch.com/2018/12/11/vroom-nabs-146m-from-autonation-vcs-for-its-online-used-car-marketplace/|title=Vroom nabs $146M from AutoNation, VCs for its used car site|website=TechCrunch|date=11 December 2018 |language=en-US|access-date=2019-01-27}}</ref>

On January 22, 2024, Vroom announced "that it is discontinuing its e-commerce operations and winding down its used vehicle dealership business in order to preserve liquidity and enable the Company to maximize stakeholder value through its remaining businesses." Vroom owns and operates United Auto Credit Corporation (UACC), a leading automotive finance company, and CarStory, a leader in AI-powered analytics and digital services for automotive retail. UACC and CarStory will continue to serve their third-party customers and focus on growing those businesses"{{cn|date=February 2024}} <ref>{{Cite web | url=https://ir.vroom.com/news-releases/news-release-details/vroom-announces-wind-down-ecommerce-used-vehicle-operations#:~:text=(Nasdaq%3AVRM)%20(Vroom,maximize%20stakeholder%20value%20through%20its | title=Vroom Announces Wind-Down of Ecommerce Used Vehicle Operations | website=ir.vroom.com}}</ref>

On January 22, 2024, Vroom announced "that it is discontinuing its e-commerce operations and winding down its used vehicle dealership business in order to preserve liquidity and enable the Company to maximize stakeholder value through its remaining businesses." Vroom owns and operates United Auto Credit Corporation (UACC), a leading automotive finance company, and CarStory, a leader in AI-powered analytics and digital services for automotive retail. UACC and CarStory will continue to serve their third-party customers and focus on growing those businesses"<ref>{{Cite web | url=https://www.carfinderzone.com/news/vroom-shuts-down-used-car-e-commerce-operations | title=Vroom Shuts Down Used Car E-commerce Operations, Lays Off Workforce and Refocuses Business Model | website=CarFinderZone}}</ref>

In November 2024, Vroom filed for [[Chapter 11 bankruptcy]] protection with plans to convert debt into equity backed by its lenders. The company blamed a decline in sales following a pandemic boom.<ref>{{Cite web|url= https://www.wsj.com/articles/vroom-once-an-automotive-darling-files-for-bankruptcy-046c6748|title= Vroom, Once an Automotive Darling, Files for Bankruptcy|last=McElhaney|first=Alicia|date=November 13, 2024|access-date=November 13, 2024|website=The Wall Street Journal|language=en}}</ref> Vroom exited bankruptcy protection on January 15, 2025.<ref>{{Cite web|url=https://www.businesswire.com/news/home/20250114259795/en/Vroom-Completes-Recapitalization|title=Vroom Completes Recapitalization|date=January 14, 2025|access-date=January 25, 2025|website=Business Wire|language=en}}</ref>

In November 2024, Vroom filed for [[Chapter 11 bankruptcy]] protection with plans to convert debt into equity backed by its lenders. The company blamed a decline in sales following a pandemic boom.<ref>{{Cite web|url= https://www.wsj.com/articles/vroom-once-an-automotive-darling-files-for-bankruptcy-046c6748|title= Vroom, Once an Automotive Darling, Files for Bankruptcy|last=McElhaney|first=Alicia|date=November 13, 2024|access-date=November 13, 2024|website=The Wall Street Journal|language=en}}</ref> Vroom exited bankruptcy protection on January 15, 2025.<ref>{{Cite web|url=https://www.businesswire.com/news/home/20250114259795/en/Vroom-Completes-Recapitalization|title=Vroom Completes Recapitalization|date=January 14, 2025|access-date=January 25, 2025|website=Business Wire|language=en}}</ref>