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TrueCar, Inc. is a privately-held, venture capital-backed Internet company that offers car buyers a way to find the best price for the new car they wish to purchase. The privately-held price aggregator does this by entering into contracts with car dealerships. Once having signed the contract, the car dealership is legally bound to sell the car at the price advertised to the user via TrueCar. By January 2012, TrueCar was involved in some 5,000 of these dealer partnerships. The company also offers car buyers a database of used cars for sale. TrueCar, Inc. was founded in 2005 by Scott Painter and Tom Taira. TrueCar, Inc. headquarters are located in Santa Monica, California.
| Company Tags: | VC Backed |
| Year Founded: | 2005 |
| Formerly Named: | Zag |
| Fiscal Year End: | 12/31 |
| 1YR Revenue Growth Rate: | View % |
| 3YR Revenue Growth Rate (CAGR): | View % |
| 1YR Employee Growth Rate: | View % |
| 3YR Employee Growth Rate (CAGR): | View % |
| City: | Santa Monica |
| State/Province: | California |
| Country: | United States |
| Phone: | View |
| Website: | www.truecar.com |
| Affiliate Companies: | |
| Subsidiaries: | |
| Founders: | Scott Painter Tom Taira |
| Internet > E-Commerce > Online Marketplaces |
| Technology > Software > Database Storage & Management Software |
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| 1 | Centre Partners Management LLC owns... read more. |
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Export All TrueCar, Inc. Financials To Excel
$99 Single Company AccessInstant Full Site-Wide Access| Income Statement | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
| Revenues | View1 | View | View | View | View | View | View |
| Revenue from Partners | View | View | |||||
| Revenue Directly Through Truecar.com | View | View | |||||
| Employee Figures | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
| Total Employees | View | View | View | View | View | ||
| Productivity (Revenue/Employee) | View | View | View | View | View | ||
| Location Statistics | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
| Total Locations | View |
| Financial Notes: | |
| * | TrueCar, Inc. fiscal year end: 12/31 |
| 1 | Projected... read more. |
| 2 | Eight transactions took place on... read more. |
| 3 | Three transactions took place on... read more. |
Export All TrueCar, Inc. Financials To Excel
$99 Single Company AccessInstant Full Site-Wide AccessTrueCar, Inc. Revenues ($ MM): |
TrueCar, Inc. Revenue from Partners: |
TrueCar, Inc. Revenue Directly Through Truecar.com: |
TrueCar, Inc. Total Employees: |
TrueCar, Inc. Productivity (Revenue/Employee) ($): |
TrueCar, Inc. Implied Company Valuation ($ MM): |
TrueCar, Inc. Stock Price ($): |
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$99 Single Company AccessInstant Full Site-Wide Access| Date | Status | Target | Buyer | Deal Type | Price | |
| Details | May. 2011 | Completed | View | View | Acquisition | View |
| Details | Aug. 2011 | Completed | View1 | View | Acquisition | View |
| Details | Sep. 2011 | Completed | View | View | Acquisition | View |
| 1 | TrueCar completed its acquisition ALG,...Read More → |
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$99 Single Company AccessInstant Full Site-Wide Access| Date | Investor | Round | Investor Type | |
| Feb. 2005 | Anthem Venture Partners | A | Venture Capital | |
| Details | Total Round A $2,265,000 | |||
| Sep. 2005 | Capital One Financial Corporation1 | B | Corporate | |
| Sep. 2005 | Anthem Venture Partners | B | Venture Capital | |
| Details | Total Round B $8,100,000 | |||
| Dec. 2005 | GRP Partners | C | Venture Capital | |
| Dec. 2005 | Centre Partners Management, LLC2 | C | Private Equity | |
| Dec. 2005 | United Services Automobile Association (USAA) | C | Corporate | |
| Details | Total Round C3 $31,100,000 | |||
| Dec. 2006 | View | Other | ||
| Details | Total Round Other4 View | |||
| Sep. 2011 | View | Other | Private Equity & Venture Capital | |
| Sep. 2011 | View | Other | Private Equity & Venture Capital | |
| Sep. 2011 | View | Other | Corporate | |
| Sep. 2011 | View | Other | Venture Capital | |
| Sep. 2011 | View | Other | Venture Capital | |
| Sep. 2011 | View | Other | Private Equity & Venture Capital | |
| Sep. 2011 | View | Other | Corporate | |
| Sep. 2011 | View | Other | Private Equity & Venture Capital | |
| Sep. 2011 | View | Other | Corporate | |
| Sep. 2011 | View | Other | Corporate | |
| Sep. 2011 | View | Other | Private Equity | |
| Details | Total Round Other5 View | |||
| Total of Funding Shown Above View | ||||
| 1 | Capital One Auto Finance invested in the round. - Details → |
| 2 | Centre Partners Management provided capital for its portfolio company, Centre Autoland LLC, to invest in TrueCar. - Details → |
| 3 | TrueCar raised $13.2 million in debt and $17.9 million in preferred equity. The debt was issued to finance the company's acquisition strategy. The equity funding was raised to supplement working capital and to repay the firm's debt. - Details → |
| 4 | According to an SEC filing,...Read More → |
| 5 | Between 2007 and 2011, TrueCar...Read More → |
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$99 Single Company AccessInstant Full Site-Wide Access| Date | Deal Type | Action | Resulting Status | Valuation | Amount Raised | Public Ticker | |
| Details | Sep. 2011 | View | View | View | View | View | View |
$99 Single Company AccessInstant Full Site-Wide AccessRevenues
New Cars
The most significant portion of TrueCar's revenue streams come from commissions on new car sales. Dealers must pay a flat fee of $300 to TrueCar for car purchases originated from the price aggregator's website. This cuts into dealers' gross margins, especially since the price they submit to TrueCar may be especially competitive to attract potential buyers. Although car dealers sell about 23% of cars on TrueCar below wholesale price, most are able to turn at least a modest profit through rebates from automakers and financing to consumers.
Used Cars
From car dealerships, TrueCar books $399 in commission per used car sale. It does not charge consumers to sell their used cars on the site.
Controversy/Complaints
From Automakers
The most notable opposing force to TrueCar, Inc. is Honda. In December 2011, it was reported that the car manufacturer told dealers it would not give them an advertising allowance if they sold cars for below invoice price on TrueCar.com.… Continue Reading →
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