vroom, vroom

E-commerce company focused on car sales revs up for Houston expansion

New York City-based Vroom employs more than 900 people in the Houston area. Photo courtesy of Vroom

Vroom, an e-commerce platform for buying and selling used vehicles, is driving up its presence in the Houston area.

The publicly traded company recently established a "last-mile hub" in Stafford where Vroom workers will inspect, detail, and place temporary tags on all cars being delivered or picked up in Texas. The hub is expected to serve nearly 7.1 million motorists in more than 455 ZIP codes within a 75-mile radius.

New York City-based Vroom employs more than 900 people in the Houston area. Aside from the new hub, local employees work at the company's reconditioning center, executive offices, and Texas Direct Auto and Sell Us Your Car locations. The hub is housed within Vroom's 293,000-square-foot reconditioning center. The reconditioning center alone employs almost 400 people.

Leaders of the new hub include Mary Kay Wegner, Vroom's chief logistics officer, and John Piatak, vice president of transportation.

"As Vroom's business continues to grow, we're committed to investing in the Houston area, from expanding our physical footprint, to hiring more local workers, to offering new services for our valued customers," Wegner says in a news release.

In the Houston area, the number of vehicles purchased from Vroom surged 144.6 percent from the first half of 2020 to the first half of 2021, the company says. The number of vehicles sold to Vroom in the Houston area soared 624.4 percent during the same period.

In fiscal 2020, Vroom sold 34,488 cars, up 82 percent from the same period a year earlier. Last year, the company posted revenue of nearly $915.5 billion, up almost 56 percent from the previous year.

"As the used vehicle market continues to embrace the e-commerce model, we will continue to execute our plan and invest in scaling our business and improving our customer experience as we transform the market for buying and selling used vehicles," Vroom CEO Paul Hennessy said in a March news release.

Vroom, founded in 2013, debuted as a public company in June 2020. As a private company, Vroom scooped up $1.3 billion in funding.

Last month, Vroom agreed to buy auto lender United Auto Credit for $300 million. Newport Beach, California-based United Auto Credit specializes in auto loans for buyers with spotty credit records.

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A research team housed out of the newly launched Rice Biotech Launch Pad received funding to scale tech that could slash cancer deaths in half. Photo via Rice University

A research funding agency has deployed capital into a team at Rice University that's working to develop a technology that could cut cancer-related deaths in half.

Rice researchers received $45 million from the National Institutes of Health's Advanced Research Projects Agency for Health, or ARPA-H, to scale up development of a sense-and-respond implant technology. Rice bioengineer Omid Veiseh leads the team developing the technology as principal investigator.

“Instead of tethering patients to hospital beds, IV bags and external monitors, we’ll use a minimally invasive procedure to implant a small device that continuously monitors their cancer and adjusts their immunotherapy dose in real time,” he says in a news release. “This kind of ‘closed-loop therapy’ has been used for managing diabetes, where you have a glucose monitor that continuously talks to an insulin pump. But for cancer immunotherapy, it’s revolutionary.”

Joining Veiseh on the 19-person research project named THOR, which stands for “targeted hybrid oncotherapeutic regulation,” is Amir Jazaeri, co-PI and professor of gynecologic oncology at the University of Texas MD Anderson Cancer Center. The device they are developing is called HAMMR, or hybrid advanced molecular manufacturing regulator.

“Cancer cells are continually evolving and adapting to therapy. However, currently available diagnostic tools, including radiologic tests, blood assays and biopsies, provide very infrequent and limited snapshots of this dynamic process," Jazaeri adds. "As a result, today’s therapies treat cancer as if it were a static disease. We believe THOR could transform the status quo by providing real-time data from the tumor environment that can in turn guide more effective and tumor-informed novel therapies.”

With a national team of engineers, physicians, and experts across synthetic biology, materials science, immunology, oncology, and more, the team will receive its funding through the Rice Biotech Launch Pad, a newly launched initiative led by Veiseh that exists to help life-saving medical innovation scale quickly.

"Rice is proud to be the recipient of the second major funding award from the ARPA-H, a new funding agency established last year to support research that catalyzes health breakthroughs," Rice President Reginald DesRoches says. "The research Rice bioengineer Omid Veiseh is doing in leading this team is truly groundbreaking and could potentially save hundreds of thousands of lives each year. This is the type of research that makes a significant impact on the world.”

The initial focus of the technology will be on ovarian cancer, and this funding agreement includes a first-phase clinical trial of HAMMR for the treatment of recurrent ovarian cancer that's expected to take place in the fourth year of THOR’s multi-year project.

“The technology is broadly applicable for peritoneal cancers that affect the pancreas, liver, lungs and other organs,” Veiseh says. “The first clinical trial will focus on refractory recurrent ovarian cancer, and the benefit of that is that we have an ongoing trial for ovarian cancer with our encapsulated cytokine ‘drug factory’ technology. We'll be able to build on that experience. We have already demonstrated a unique model to go from concept to clinical trial within five years, and HAMMR is the next iteration of that approach.”

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