RumbleOn, an online retail company focused on making it easier to dealers and consumers to buy, sell, trade, or finance used vehicles, recently reported to have seen a big increase in revenue during last year as they added auto sales to their platform.
In 2018, the Dallas, Texas-based company sold 12,529 vehicles and saw its revenue climb to $156.4 million from $7.3 million in 2017. Its gross profit came to $12.64 million in 2018, up from $278,000 in the previous year.
For the fourth quarter, sales of vehicles also beat Wall Street’s estimates and came in at $115.1 million, up from $3.4 million in the year-ago quarter. The company sold 6,763 units in its latest quarter, climbing from 355 in the corresponding period in 2017.
Read more here