|Traded as||NASDAQ: CARG (Class A)|
Russell 2000 Component
|Langley Steinert (CEO)|
CarGurus was founded in 2006 by Langley Steinert, a co-founder of TripAdvisor. Langley Steinert remains the CEO of the firm. 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.
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. Users can search for specific cars in their local area and compare listings by price, features, and dealership reputation. 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.
CarGurus was privately owned until its $150 million IPO on 12 October 2017; its board of directors includes Steve Kaufer, co-founder and current CEO of TripAdvisor, and Simon Rothman, formerly Global Vice President and General Manager of eBay Motors.
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. The company was also named to Forbes' Most Promising Companies list in 2015. The company is based in Cambridge, MA.
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