TrueCar was founded in 2005, originally under the name Zag.Com in Los Angeles, California. The company operates an automotive information and pricing website.
Car dealerships pay TrueCar for information about potential buyers. Possible buyers are provided with information, such as what others paid for similar cars, and pricing at various dealerships for the type of car they are looking for. The company went public on the NASDAQ under the ticker symbol: TRUE.
As of 2015, TrueCar had more than 10,000 TrueCar Certified Dealers in their network. The company reports that more than 2 million cars have been purchased from their website.
After disappointing first quarter results in 2019, TrueCar announced the immediate resignations of key senior executives, including CEO Chip Perry, CTO/CPO Tommy McClung, CMO Neeraj Gunsager, and EVP Brian Skutta.
In May 2020, TrueCar announced a restructuring of the company, including layoffs of 30% of its workforce, in anticipation for significant revenue loss when its key partnership with USAA ends and the COVID-19 pandemic.
The company maintains a corporate office in Santa Monica, California.
TrueCar was founded in 2005, originally under the name Zag.Com in Los Angeles, California. The company operates an automotive information and pricing website.
History
Car dealerships pay TrueCar for information about potential buyers. Possible buyers are provided with information, such as what others paid for similar cars, and pricing at various dealerships for the type of car they are looking for. The company went public on the NASDAQ under the ticker symbol: TRUE.
As of 2015, TrueCar had more than 10,000 TrueCar Certified Dealers in their network. The company reports that more than 2 million cars have been purchased from their website.
After disappointing first quarter results in 2019, TrueCar announced the immediate resignations of key senior executives, including CEO Chip Perry, CTO/CPO Tommy McClung, CMO Neeraj Gunsager, and EVP Brian Skutta.
In May 2020, TrueCar announced a restructuring of the company, including layoffs of 30% of its workforce, in anticipation for significant revenue loss when its key partnership with USAA ends and the COVID-19 pandemic.
The company maintains a corporate office in Santa Monica, California.
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