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CarGurus (Nasdaq: CARG) is a dynamic and innovative company that traces its roots back to 2006 in the vibrant city of Cambridge, Massachusetts. Founded by Langley Steinert, a visionary entrepreneur and co-founder of the renowned travel website TripAdvisor, CarGurus was born out of a deep-seated desire to revolutionize the car-shopping experience by harnessing the power of technology and data analytics. Recognizing the immense potential in the automotive industry, Steinert set out to create a platform that would empower consumers with the tools and information needed to make confident and informed car-buying decisions.
Since its inception, CarGurus has experienced remarkable growth, propelling it to become the preeminent destination for automotive shopping in the United States. With its unwavering commitment to providing a superior user experience, CarGurus has secured its position as the most visited automotive shopping site in the US1. Offering a vast and comprehensive inventory, CarGurus boasts more car listings than any other major online automotive marketplace in the country2, giving consumers an unparalleled selection to choose from.
Driven by its mission to simplify and enhance the car-buying process, CarGurus has expanded its reach beyond the borders of the United States. Recognizing the global demand for its innovative platform, CarGurus has successfully established a presence in Canada and the United Kingdom, serving customers in these regions with the same dedication and commitment to excellence that has made it a household name in the US automotive industry.
The growth and success of CarGurus have been duly recognized by the financial markets. In October 2017, CarGurus made its highly anticipated debut on the Nasdaq Global Select Market, a significant milestone that solidified its position as a leading player in the automotive e-commerce space. Trading under the ticker symbol CARG, CarGurus continues to demonstrate its resilience, adaptability, and long-term vision, captivating investors and stakeholders alike.
At the heart of CarGurus’ success lies its unwavering dedication to utilizing technology and data analytics to empower consumers and revolutionize the car-shopping experience. With its intuitive and user-friendly platform, CarGurus has redefined the way people search for and purchase vehicles. Leveraging advanced algorithms and sophisticated data analysis, CarGurus provides users with valuable insights, transparent pricing information, and user-generated reviews to ensure that they have all the necessary tools to make informed decisions and secure the best possible deal.
However, CarGurus’ commitment to excellence extends far beyond its technological prowess. The company’s success can be attributed in large part to its team of dedicated and passionate professionals who work tirelessly to deliver exceptional service to both buyers and sellers. CarGurus’ commitment to maintaining a trustworthy and reliable marketplace is evident in its stringent vetting process for dealerships and its dedication to ensuring transparency and fairness in every transaction.
As CarGurus continues to shape the future of automotive e-commerce, it remains steadfast in its mission to provide consumers with a better, more efficient, and empowering car-shopping experience. With its relentless pursuit of innovation, its commitment to data-driven insights, and its unwavering dedication to customer satisfaction, CarGurus is poised to lead the industry into a new era of automotive shopping, one where technology and human expertise converge to create a truly transformative and unforgettable journey.
