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CarMax officially split from Circuit City as of October 1, 2002, when it was spun off as a stock dividend for Circuit City shareholders, with shares also issued to those holding CarMax tracking stock. [12] CarMax sold over 750,000 vehicles to consumers in Fiscal Year 2021 (March 1, 2020–February 28, 2021). [2]
Throughout that year Carvana sold 244,111 vehicles and posted annual revenue of $5.587 billion, making it the second largest online used-car retailer in the U.S. [15] As of November 2023, Carvana's as-soon-as-next-day delivery was available in 300+ markets nationwide. [16]
Autotrader.com was founded in 1997. [2] It was derived from Auto Trader magazine, first published by Stu Arnold in 1973. [5] Freelance photographers would travel to the address of a customer to photograph their vehicle.
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CarGurus was founded in 2006 by Langley Steinert, a co-founder of TripAdvisor. [3] Langley Steinert was the company's CEO until January 2021, when CFO Jason Trevisan was named as the company's CEO. [4]
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