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Vroom hits the brakes on its online used car business to go full throttle on auto financing and AI
Vroom is shutting down its online used car marketplace and laying off 800 workers as it tries to preserve two other ventures.
Vroom is shutting down its online used car marketplace and shifting all of its resources and capital into two business units focused on auto financing and AI-powered analytics. Vroom, which went public in 2020, said it now plans to concentrate on two other businesses its owns and operates: United Auto Credit Corporation and CarStory. Vroom was part of a wave of U.S. startups that launched about a decade ago all aiming to disrupt used car sales and the traditional dealership model.
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