Cargurus was founded in 2006 by former TripAdvisor co-founder Langley Steinert. The company began as an online community blog where users could post reviews and experiences about dealers, repair shops, as well as the pros and cons of certain cars. After car dealers expressed an interest in advertising, the focus shifted to listing dealer inventories online.
The company operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company uses algorithms to analyze and compare prices and features on cars for sale. Users can input data as to what they are searching for, how far they are willing to travel, the amount they can spend and more. This will provide users with a list of cars from dealers.
Cargurus.Com is traded on the NYSE under the ticker symbol: CARG. As of 2017, the company says it has more than 40,000 active car dealers with more than 5.4 million car listings.