 | |
| Company type | Public |
|---|---|
| Nasdaq: CARG (Class A) Russell 2000 Component S&P 600 Component | |
| Industry |
|
| Founded | 2006 |
| Founder | Langley Steinert |
| Headquarters | , U.S. |
Key people | Jason Trevisan (CEO) |
| Website | www |
CarGurus, Inc. is a Cambridge, Massachusetts-based automotive research and shopping website that assists users in comparing local listings for used and new cars, and contacting sellers. [1] [2]
CarGurus was founded in 2006 by Langley Steinert, a co-founder of TripAdvisor. [3] Langley Steinert was the company's CEO until January, 2021 when CFO Jason Trevisan was named as the company's CEO. [4] The company started off as an automotive community blog where consumers could post reviews and questions about local dealers, shops, and types of cars. Dealers expressed interest in advertising on the site, and the company changed its business strategy to connect dealers and consumers by putting inventory on the site.
From 2009 to 2011, the company's visitor traffic increased from 9 million per month to 21 million per month. [5]
In November 2023, CarGurus fully acquired an online car dealership, CarOffer, for $75 million. [6]
CarGurus is an automotive research and shopping website that assists users in comparing local listings for used and new cars and contacting sellers. CarGurus uses algorithms to analyze and compare prices and features on cars for sale. [7] Users can search for specific cars in their local area and compare listings by price, features, and dealership reputation. [8] The company also offers a discussion platform for car enthusiasts and automotive experts, who submit questions, offer insight, gather and share information, and provide reviews. The company operates websites in the United States, Canada, the United Kingdom, Italy, Spain, and Germany.
CarGurus was privately owned until its $150 million IPO on 12 October 2017; [9] its board of directors includes Steve Kaufer, co-founder and CEO of TripAdvisor; Greg Schwartz, President Media and Marketplace of Zillow; and Steve Conine, Co-founder of Wayfair.
In 2018, CarGurus purchased the UK website and forum PistonHeads for an undisclosed amount. [10] In 2020, CarGurus purchased US auto listings site Autolist [11] and purchased a 51% stake in wholesale vehicle platform CarOffer. [12]
The company was involved in a trademark dispute with the Rich Rebuilds channel, who changed their name after legal action was threatened.
CarGurus ranked on the Inc. 500 Fastest Growing Private Companies in 2011, 2012, and 2013, and the Inc. 5000 in 2014, 2015, and 2016. [13] The company was also named to Forbes' Most Promising Companies list in 2015. [14]
As of 2014, CarGurus provides all used and new cars searches for Boston.com. [15]
In the United States, a car dealership is a business that sells cars. A car dealership can either be a franchised dealership selling new and used cars, or a used car dealership, selling only used cars. In most cases, dealerships provide car maintenance and repair services as well as trade-in, leasing, and financing options for customers.
Kelley Blue Book Co., Inc. is a vehicle valuation and automotive research company which is recognized by both consumers and the automotive industry. Based in Irvine, California, the company is owned by the Cox Automotive subsidiary of Cox Enterprises.
AutoNation is an American automotive retailer based in Fort Lauderdale, Florida, which provides new and pre-owned vehicles and associated services in the United States. The company was founded by Wayne Huizenga in 1996, starting with twelve AutoNation locations, and now has more than 300 retail outlets.
Edmunds.com Inc. is an American online resource for automotive inventory and information, including expert car reviews based on testing at the company's private facility. The company is headquartered in Santa Monica, California, and maintains an office in downtown Detroit, Michigan. After making a minority investment, Carmax purchased the whole company at an enterprise value of $404 million in 2021.
Group 1 Automotive, Inc. is an international Fortune 300 automotive retailer with automotive dealerships and collision centers in the United States and the United Kingdom. Group 1 sells new and used cars and light trucks, arranges financial services, provides maintenance and repair services, and sells vehicle parts. As of 2021, the company employs over 13,000 people globally.
The Reynolds and Reynolds Company is a private corporation based in Dayton, Ohio. Its primary business is providing business forms, management software and professional services to car dealerships. Its software is used to manage sales logistics at dealerships. It also produces forms used in medicine and insurance.
Lithia Motors, Inc. is an American nationwide automotive dealership group headquartered in Medford, Oregon. It is the third largest new vehicle automotive dealership group in the United States, below AutoNation and Penske Automotive Group. As of October, 2023, Lithia operates 291 stores in the United States, 14 stores in Canada and 40 in the United Kingdom. As of May 2022, Lithia operates 267 stores in 24 states, and 14 in Canada. Lithia Motors employs approximately 21,150 people.
The Herb Chambers Companies, usually shortened to Herb Chambers, is one of the largest automotive dealership in New England and is the North America's 17th largest dealer group.
AutoWeb, Inc. is an automotive media and marketing services company based in Irvine, California.
Scott Painter is an American investor and entrepreneur in the technology and automotive industries.
Autotrader.com, Inc. is an American online marketplace for car buyers and sellers, founded in 1997. It aggregates new, used, and certified second-hand cars from dealers and private sellers. The site also provides users with automotive reviews, shopping advice, and comparison tools for car financing and insurance information.
TrueCar, Inc. is an automotive pricing and digital retailing website for new and used car buyers. The service allows users to see what others paid for any new or used vehicle in their local area and receive upfront prices from a network of over 15,000 TrueCar Certified Dealers. TrueCar is paid by dealerships so they can be introduced to and communicate with potential new and used car buyers. TrueCar supports over 1 million new and used car transactions between dealers and its users each year. The company is headquartered in Santa Monica, California, with a sales office Austin, Texas.
DriveTime Automotive Group Inc. is an American used car retailer and finance company. It is based in Tempe, Arizona, and sells and finances cars to customers around the nation. The company was formerly known as Ugly Duckling and was renamed DriveTime in 2002. It also spun off Carvana and GO Financial, SilverRock Group Inc, and Bridgecrest Acceptance Corporation. As of 2018, DriveTime had approximately 145 locations in the U.S. and 3,800 employees.
Mojo Motors, Inc. was an American automotive classified website for preowned automobiles.
iSeeCars.com is an online automotive search engine and research website which helps users find and compare cars for sale using a proprietary computer algorithm.
Vroom, Inc. is a parent company of United Auto Credit Corporation (UACC) and CarStory. Previously, it was a used car retailer and e-commerce company that let consumers buy, sell, and finance cars online. Vroom ceased e-commerce automotive sales operations on January 22, 2024.
The electric car company Tesla, Inc. has faced dealership disputes in several U.S. states as a result of local laws. In the United States, direct manufacturer auto sales are prohibited in many states by franchise laws requiring that new cars be sold only by independent dealers.
Modal, formerly known as Next Technology Inc., was an American-based company in San Francisco, that sold software for a dealership's website, allowing car shoppers to purchase new and used cars online.
CarWoo was an online new car shopping pricing and information website that allowed consumers to buy cars by negotiating with car dealers in a semi-anonymous online reverse auction. CarWoo, whose logo also appears as CarWoo!, was a competitor to TrueCar, which was a similar but negotiation-free car buying platform.
Langley Steinert is an American entrepreneur and business executive. He is most notable for being a founder of CarGurus and being a co-founder Tripadvisor along with Stephen Kaufer.