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About CarGurus
Industries
Data & Analytics
Automotive & Transportation
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Cambridge, Massachusetts
Founded
2006
Overview
CarGurus is an online marketplace that connects buyers and sellers of new and used cars, primarily in the United States, with additional operations in Canada, the United Kingdom, and Germany. Users can search for vehicles, compare prices, and read reviews on the platform. CarGurus employs advanced algorithms to rank car listings based on price, dealer reputation, and vehicle history, which helps users find the best deals. This focus on data transparency and user-friendly design distinguishes CarGurus from traditional car buying methods and competitors like AutoTrader and Cars.com. The company generates revenue by charging dealerships subscription fees to list their inventory, offering advertising services for more prominent listings, and providing additional services such as financing options and vehicle history reports. CarGurus aims to simplify the car buying and selling process while ensuring users have access to reliable information.
Simplify's Take
What believers are saying
- Digital Deal tool adoption increased 150% among U.S. dealers in 2024.
- Expansion of Digital Deal to Canada offers significant international growth opportunities.
- Recent website redesign and app updates enhance user experience and lead generation.
What critics are saying
- CFO Elisa Palazzo's departure in March 2025 may cause financial management instability.
- Carvana's strong market presence poses a competitive threat to CarGurus.
- Economic uncertainty may shift consumer focus to more affordable vehicle segments.
What makes CarGurus unique
- CarGurus uses proprietary algorithms to rank car listings by price and reputation.
- The platform offers a unique Digital Deal tool for online car buying processes.
- CarGurus emphasizes data transparency and user-friendly interfaces in its marketplace.
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Funding
Total Funding
$158.2M
Above
Industry Average
Funded Over
3 Rounds
Benefits
Company Equity
Hybrid Work Options
Flexible Work Hours
Paid Vacation
Meal Benefits
Commuter Benefits
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↑ 0%Leaning into the bear narrative on Tesla (TSLA). UBS analyst Joseph Spak reiterated his 12-month Sell rating on Tesla shares on Monday, voicing considerable concern on the near-term demand outlook for the Model 3 and Model Y. He slashed his price target on Tesla to $225 from $259. The consensus price target on the Street is $239, according to Yahoo Finance data. The stock tanked 8% to $242 in early trading alongside a broader hit to markets due to tariff concerns. NasdaqGS - Delayed Quote • USD As of 12:28:59 PM EDT
Elisa Palazzo will step down as CFO of CarGurus on March 7, 2025.
Consumer preferences are moving toward digital experiences in the online car marketplace, and Carvana and CarGurus are leveraging technology and artificial intelligence (AI) to improve the buying process. Both companies reported strong performances in 2024, using digital tools to optimize customer engagement and refine their business models, though each has faced distinct challenges along the way. Carvana’s Strategic Growth Drivers and AI Investment. Carvana recorded a 33% year-over-year increase in retail units sold (416,348) and saw its revenue rise 27%, to $13.67 billion. According to the company’s Q4 shareholder letter, Carvana has three main growth drivers: continuously improving its customer offering; increasing awareness, understanding and trust of the brand; and increasing inventory selection and other benefits of scale
CarGurus to present at 27th Annual Needham Growth Conference.
CarGurus (CARG) has released its 2024 Recap & 2025 Outlook, highlighting that affordability was the key market driver in 2024.
CarGurus is Hiring for 55 Jobs on Simplify!
Find jobs on Simplify and start your career today
About CarGurus
Industries
Data & Analytics
Automotive & Transportation
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Cambridge, Massachusetts
Founded
2006
CarGurus is Hiring for 55 Jobs on Simplify!
Find jobs on Simplify and start your career today