technology founded 2005 headquarters santa monica california key people chip perry president ceo scott painter founder products pricing and information for new and used cars number of employees 500 citation needed website www.truecar.com truecar inc. is an automotive pricing and information website for new and used car buyers and dealers . truecar is paid by dealerships so they can obtain potential buyers contact information . potential car buyers receive an online report illustrating what others have paid for cars illustrative pricing from a network of truecar certified dealers . truecar reports its users have purchased more than 2 million cars from dealers in its network . the company is headquartered in santa monica ca 1 and its network includes around 10 000 automobile dealers in the united states . 2 3 contents 1 technology 2 history 3 venture capital investments 4 partnerships 5 references 6 external links technology edit truecar s massive up to the minute database of selling prices is an example of big data at the petabyte level and is run on apache hadoop . 4 1 history edit truecar was originally incorporated under the name zag.com inc. in delaware in february 2005 . scott painter along with several co founders including tom taira and jim nguyen operated the business primarily as a provider of white labeled auto buying programs for affinity groups . within the zag.com environment the concepts of price confidence using data and analytics presented in an easy to digest form was incubated and launched in a separate company truecar.com . the truecar concept involved gathering data from a number of different sources in order to compile updated vehicle prices for consumers in an attempt to enhance zag.com s services . 5 6 ultimately the two entities were combined to form truecar inc. truecar ranked 11th on the l.a. business lab annual list of the 100 fastest growing private companies in los angeles 7 and inc. magazine ranked truecar on its 2010 list of fastest growing companies in america . 8 in january 2011 truecar released clearbook.com a used vehicle index that analyzes the used car market . 9 the website provides users with prices based on market data . 9 10 in august 2011 truecar raised 200 million in debt and equity financing and purchased alg a company that provides information on future residual values of vehicles for an estimated 83 million . 11 truecar later hired larry dominique former vice president of product planning at nissan to run its alg business and work with auto manufacturers . 12 additional 2011 deals included the acquisition of news corp backed honk.com in may . 13 in late 2011 truecar launched a television advertising campaign with commercials promoting its services . 14 shortly thereafter truecar faced backlash from the automotive industry 15 when several state agencies and regulators notified truecar that its practices were noncompliant with some state laws . 16 17 in response to those notices truecar overhauled its pricing structure 14 and moved from a pay per sale model to a subscription model for dealers in some states . 18 in 2013 about 400 000 vehicles were sold from truecar and truecar certified dealers . citation needed in 2014 more than 611 000 new and used vehicles were purchased at truecar certified dealerships . truecar had a hand in 3.9 % of u.s. new car retail sales in 2014 . 19 as of october 2015 truecar had more than 10 000 dealerships in its network . 3 in february 2014 truecar acquired the domain true.com using the site as an umbrella domain name . 20 on may 16 2014 truecar became a publicly traded company and is listed on the nasdaq under the ticker nasdaq true . 21 truecar successfully completed a secondary offering in november 2014 worth approximately 125 million . 2 painter stepped down as ceo of truecar in december 2015 . he was replaced by chip perry . 22 23 venture capital investments edit in its 2008 series a round of venture funding truecar raised 2.8 million from zag s original investors . 5 24 25 it received 8.1 million in series b investments from capital one and anthem venture partners 26 and truecar raised another 35.5 million in 2010 . 24 in september 2011 truecar raised 200 million in funding from usaa grp partners keating capital silicon valley bank and capricorn investment group . 24 27 truecar raised 30 million from vulcan capital in december 2013 . 28 as of 2013 the company has raised over 200 million in financing since its founding in 2005 . 28 partnerships edit truecar launched the first all female racing team in 2012 with support from penske media corporation and dragon racing . 29 30 the companies sponsored the women in six racing series including indycar mazda mx 5 cup star mazda usf2000 world challenge and rally america . 30 31 in june 2012 the virgin group announced its partnership in support of truecar s women empowered initiative . 29 truecar powers car buying programs for approximately 576 brands . truecar s affinity partners include usaa sam s club consumer reports aaa american express geico and farmers . 32 33 references edit company overview of truecar inc. . bloomberg businessweek . 2012 . retrieved 17 november 2012 . a b dorin levin november 17 2014 . truecar s stock revs up . fortune . retrieved november 25 2014 . a b katie roof may 16 2014 . truecar up 20 % in ipo . foxbusiness . retrieved may 23 2014 . needle david 10 june 2015 . hadoop summit wrangling big data requires novel tools techniques . enterprise apps . eweek . a b zag spins out truecar . socialtech.com . 10 september 2008 . retrieved 17 november 2012 . scott painter mark suster . this week in venture capital 12 with scott painter video . this weekin . fastest growing companies in 2009 pdf . cbj online . retrieved 17 november 2012 . truecar . inc. 2011 . retrieved 17 november 2012 . a b jennifer saranow schultz 15 february 2011 . clearbook a new online tool for judging a used car s worth . the new york times . retrieved 17 november 2012 . shaun conlin 26 october 2010 . truecar announces clearbook used car pricing aggregator . evergeek . retrieved 17 november 2012 . sawyers arlena 2011 . painter s vision sales with no sales staff . automotive news . p. 8 . access date requires url help christie schweinsburg 4 october 2011 . product planner dominique exits nissan . wardsauto . retrieved 17 november 2012 . robin wauters 3 may 2011 . truecar acquires news corp backed automotive social network honk.com . techcrunch . retrieved 17 november 2012 . a b tara siegel bernard 10 february 2012 . car dealers wince at a site to end sales haggling . new york times . retrieved 17 november 2012 . truecar revamps pricing curve . f & i and showroom . 6 september 2012 . retrieved 17 november 2012 . the truecar challenge . economist . 2012 . p. 59 . access date requires url help doron levin 18 january 2012 . truecar is running into roadblocks . cnnmoney . retrieved 17 november 2012 . truecar unveils compliance strategy . f & i and showroom . 17 january 2012 . retrieved 17 november 2012 . truecar.com shares rise about 11 pct in debut . reuters . 16 may 2014 . retrieved 7 september 2014 . truecar buys true.com . socal tech . 26 february 2014 . retrieved 7 september 2014 . truecar jumps in its 1st day on the nasdaq . ap . 16 may 2014 . retrieved 7 september 2014 . http www.latimes.com business autos la fi hy truecar quarterly results 20150806 story.html http true.com press release truecar names chip perry chief executive officer 2 a b c truecar . crunchbase . 7 november 2012 . retrieved 17 november 2012 . truecar obtains series a financing . xconomy . 11 september 2008 . retrieved 17 november 2012 . truecar inc. receives series b investment from capitol one and anthem venture partners . privco . retrieved 17 november 2012 . regina sinsky 7 september 2011 . vehicle pricing platform truecar goes on a spending spree with 200m funding . venturebeat . retrieved 17 november 2012 . a b michael j. de la merced december 12 2013 . truecar raises 30 million from paul allen s firm . retrieved may 23 2014 . a b virgin group aligns with truecar racing s indycar program women s initiative . auto week . 13 june 2012 . retrieved 17 november 2012 . a b yvonne wenger 1 september 2012 . all women team leaves mark on grand prix of baltimore . the baltimore sun . retrieved 17 november 2012 . truecar racing . truecar . retrieved 17 november 2012 . truecar over 1 million cars sold through affinity auto buying programs . insurancenewsnet.com . 13 june 2014 . retrieved 7 september 2014 . know what others paid before you buy . truecar . retrieved 17 november 2012 . external links edit official website retrieved from https en.wikipedia.org w index.php title truecar & oldid 743553992 categories automotive websitescompanies listed on nasdaqhidden categories pages using citations with accessdate and no urlall articles with unsourced statementsarticles with unsourced statements from september 2016articles with unsourced statements from february 2015 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 10 october 2016 at 04 57 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view