NEW YORK--(BUSINESS WIRE)--Vroom, Inc.  the online automotive retailer, today announced that it has commenced the initial public offering of its common stock. Vroom is offering 18,750,000 shares of its common stock. The initial public offering price is expected to be between $15.00 and $17.00 per share. Vroom expects to grant the underwriters a 30-day option to purchase up to an additional 2,812,500 shares of its common stock at the initial public offering price to cover over-allotments. The shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol “VRM.”

Goldman Sachs & Co. LLC, BofA Securities, Allen & Company LLC and Wells Fargo Securities are serving as joint lead book-running managers and as representatives of the underwriters for the proposed offering. Stifel, William Blair, Baird, JMP Securities and Wedbush Securities are serving as co-managers for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Vroom:

Vroom is an innovative, end-to-end ecommerce platform designed to offer a better way to buy and a better way to sell used vehicles. The company's scalable, data-driven technology brings all phases of the vehicle buying and selling process to consumers wherever they are and offers an extensive selection of vehicles, transparent pricing, competitive financing, and contact-free, at-home pick-up and delivery.