With Waymo, "we're in an investment period where we are creating capabilities that we think build a relationship and demonstrate what we bring to the table," he said. "That's going very well, and I think will lead to good things. I still can't define that for you exactly."
The Vroom investment establishes a foundation for potential strategic partnership opportunities with experienced e-commerce executives, AutoNation said in a statement.
Vroom CEO Paul Hennessy was previously CEO of Priceline.com and chief marketing officer of the travel website Booking.com.
"His credentials in the tech digital space are extraordinary," Jackson said. "He has a passion and a love for cars and the business that's very genuine and very authentic."
Vroom has offices in New York City and Houston.
In addition to the Vroom investment, AutoNation operates an online car-buying platform, AutoNation Express, launched in 2014. At the time, Jackson said customers would be able to finance and buy a vehicle online and sign paperwork electronically by the next year, but delivering on that promise has taken longer than expected.