CarGurus Named to Inc. 5000 List of Fastest Growing Private Companies for Fourth Consecutive Year
CarGurus continues to gain traction as a leading auto shopping and research site
CAMBRIDGE, Mass., August 27, 2014 -- CarGurus (www.CarGurus.com), the nation’s fastest growing car shopping website, today announced it was named for the fourth consecutive year to Inc. Magazine’s exclusive list of the country’s 5000 fastest growing private companies.
Since its inception in 2006, CarGurus has grown to become the third largest auto research and shopping site in the U.S. by daily traffic. CarGurus reported 583% revenue growth from 2010 to 2013, earning the company the rank of No. 779 on the Inc. 5000 list.
CarGurus uses data analytics to provide car shoppers with transparency on price, local inventory availability and dealer reputation based on user reviews -- all in one search. CarGurus’ search platform and mobile app are free to consumers. Car dealers can buy subscriptions to advertise their inventory and dealerships to CarGurus’ 11 million unique monthly visitors.
“Our goal at CarGurus is to deliver highly relevant search results that help shoppers find the best car deals from top rated local dealers, while providing dealers with a unique platform to connect with millions of in-market shoppers,” said Langley Steinert, founder and CEO of CarGurus. “Our continued growth is a direct reflection of our entire team’s commitment to challenging the industry and creating a more efficient, more relevant car shopping platform.”
The Inc. 500|5000 is an annual list of the fastest growing private companies in America. The companies must be U.S.-based, privately held, for profit and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2013. The full list can be found at http://www.inc.com/profile/cargurus.
With more than 10.5 million unique monthly visitors, www.CarGurus.com is the fastest growing automotive research and shopping website in the nation. The company uses a proprietary search algorithm to help shoppers compare local listings and find great deals from great dealers. Every day, CarGurus does a comprehensive Instant Market Value (IMV) analysis on more than 4 million listings, taking into account details including year, model, trim, options, mileage, location and vehicle history. A user’s shopping search results are ranked according to which offer the best deals from the top-rated dealerships.
CarGurus was founded in 2006 by Langley Steinert, co-founder and former Chairman of TripAdvisor, and is based in Cambridge, MA.