Profile: CarGurus Inc (CARG.OQ)
18 Apr 2019
CarGurus, Inc., incorporated on June 26, 2015, is an online automotive marketplace connecting buyers and sellers of new and used cars. Using proprietary technology, search algorithms, and data analytics. The Company’s marketplace empowers users with unbiased third-party validation on pricing and dealer reputation as well as other information that aids them in finding Great Deals from Great Dealers. In addition to the United States, the Company operates online marketplaces in Canada, the United Kingdom, and Germany. The Company’s products include Consumer Marketplace, Dealer Marketplace, Dealer Dashboard, Dealer Advertising and Customer Acquisition Products, Auto Manufacturer and Other Advertiser Products.
Consumer Marketplace provides consumers an online service where they search for new and used car listings from dealers, as well as sell their car. Through its marketplace, the Company provides consumers with information that helps them find the most relevant car for their needs. In addition, the Company offers used and certified pre-owned cars, instant market value (IMV), and dealer ratings. The Dealer rating provides users with other useful information, including the difference between the listing price and the IMV that determined for the car, Time on Site, mileage, Dealer Rating, and, for paying dealers, dealer location.
Dealer Marketplace connects dealers to an audience of informed and engaged consumers. The Company offers three types of marketplace listing products to its dealers: Basic Listing, Enhanced Listing, and Featured Listing, each of which requires a paid subscription. Basic Listing allows non-paying dealers to list their inventory in its marketplace anonymously. Enhanced Listing provides dealers with a higher volume and quality of connections to consumers. Dealers with an Enhanced Listing to connect with consumers directly through e-mail, phone, and managed text and chat. The Company’s platform also allows paying dealers to provide a link to their Website, dealership information such as name, address, and hours of operation, and map directions to their dealership on VDPs, helping consumers easily contact or visit them.
The Company’s Enhanced, and Featured Listing dealers all have access to the following Dealer Dashboard features and tools: Performance Summary, Dealer Insights, User Review Management, Pricing Tool, Market Analysis. The Company offer Enhanced and Featured Listing dealers the following advertising and customer acquisition products: Dealer Display and Dealer Search Engine Marketing. The Company’s Auto Manufacturer and Other Advertiser Products platform offers auto manufacturers and others the ability to purchase display advertising on its site to execute targeted marketing strategies such as Brand Reinforcement, Category Sponsorship, Automobile Segment Exclusivity, and Consumer Segment Exposure.
The Company competes with AutoTrader.com, Cars.com, and TrueCar.com, dmunds.com and KBB.com.
2 Canal Park Ste 4
CAMBRIDGE MA 02141-2232