CarGurus, Inc.
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CarGurus, Inc. - overview
Established
2006
Location
Boston, MA, US
Primary Industry
Retail
About
Based in the US, CarGurus, Inc. operates as an online automotive marketplace, streamlining the buying, selling, and trading of vehicles through a user-friendly digital platform. CarGurus, Inc. was founded in 2006 and is headquartered in Boston, Massachusetts, US.
The company specializes in connecting consumers with a wide variety of new and used vehicles. Harsimran Bhullar is the founder, and Jason Trevisan serves as the CEO. CarGurus executed an IPO in October 2017, raising USD 150 mn through the sale of 9. 4 million shares at USD 16 each, marking a significant milestone in its funding history.
The company has completed three deals in total, with the latest deal occurring on October 11, 2017. CarGurus operates as a robust online automotive marketplace that enables users to buy, sell, and trade vehicles. It offers a comprehensive platform where consumers can search for new and used cars, utilizing features like deal ratings, vehicle history reports, and price trend analysis. The service caters to both individual consumers and dealerships, enhancing visibility for vehicle sales across major US metropolitan markets such as New York, Los Angeles, and Chicago.
In the most recent fiscal year 2024, CarGurus reported a revenue of USD 894. 38 mn and an EBITDA of USD 25. 70 mn. The company generates income through various channels including advertising, partnerships, and transaction fees related to vehicle sales, employing a performance-based pricing model that supports its business-to-consumer and business-to-business operations.
CarGurus plans to enhance its service offerings with new products aimed at improving user experience and facilitating easier vehicle transactions. Following its IPO in October 2017, where it raised USD 150 mn, the company aims to utilize these funds to support expansion into new markets, particularly targeting regions with increasing vehicle transaction activity. Specific geographic expansions are yet to be detailed, but the focus will likely be on metropolitan areas similar to its current markets.
Primary Industry
Retail
Sub Industries
Automobile Dealerships, Search Engines, Web Applications
Website
www.cargurus.com/
Verticals
E-commerce, Mobile Apps
Company Stage
Mature
Total Amount Raised
Subscriber access only
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