Vroom Announces Wind-Down of Ecommerce Used Vehicle Operations
Vroom, Inc. (VRM)
Company Research
Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Vroom, Inc. (Nasdaq:VRM) (Vroom, or the Company), a leading ecommerce platform for buying and selling used vehicles, today announced that it is discontinuing its ecommerce 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.Under the Value Maximization Plan approved by Vroom’s Board of Directors, the Company is suspending transactions through vroom.com, planning to sell its current used vehicle inventory through wholesale channels, halting purchases of additional vehicles, and executing a reduction-in-force commensurate with its redu
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VRM
News
- Vroom to Release First Quarter 2024 Earnings on May 9, 2024Business Wire
- Vroom Announces Fourth Quarter and Full Year 2023 Results [Yahoo! Finance]Yahoo! Finance
- Vroom Announces Fourth Quarter and Full Year 2023 ResultsBusiness Wire
- Vroom to Release Fourth Quarter and Fiscal Year 2023 Earnings on March 13, 2024Business Wire
VRM
Earnings
- 11/7/23 - Miss
VRM
Sec Filings
- 4/5/24 - Form 4
- 4/5/24 - Form 4
- 4/5/24 - Form 4
- VRM's page on the SEC website