Carvana acquisition boosts photo capabilities with 3D computer vision
Carvana, an e-commerce platform for buying used cars, has acquired fellow technology provider Car360, accelerating Carvana's 360-degree photo technology capabilities with 3D computer vision and augmented reality, according to a press release.
More than five years ago, Carvana pioneered the 360-degree used vehicle digital tour, showcasing each car's features and imperfections in high resolution. Car360 has taken the concept mobile, enabling app-based photo capture and even more immersive viewing capabilities.
"Bringing the Car360 team into the fold, we add even more entrepreneurial strength in computer vision, AR and app-based photo capture," Carvana founder and CEO Ernie Garcia said in the release.
An early iteration of Car360 was launched in 2012 as a 360-degree panoramic video app called Cycloramic, and at one point became the No. 1 downloaded app on the Apple App Store with more than 20 million downloads. In 2013, the app caught the attention of Mark Cuban on Shark Tank, leading to an initial investment that eventually increased as part of a $3.55 million Series A financing round for Car360 in 2017.
Carvana also offers an economical way to buy used cars through a vending system. Carvana customers search for and buy their desired car online at Carvana.com using a mobile phone or desktop computer. Once the purchase is complete, customers can choose to have their car delivered directly to their door, or they can elect to pick it up at one of Carvana's massive "car vending machines."