CarGurus

CarGurus was founded in 2006 by Langley Steinert, co-founder of TripAdvisor, who envisioned a better car-shopping experience powered by technology and data analytics. What began as an automotive community blog where consumers could share reviews and ask questions about local dealers and cars, soon transformed. Dealers expressed interest in advertising on the site, prompting a strategic shift to connect dealers and consumers directly by listing inventory. This pivotal change set CarGurus on a path of rapid growth. From 2009 to 2011, the company's visitor traffic surged from 9 million to 21 million per month. This momentum continued, and by just over a decade, CarGurus had become the most visited automotive shopping site in the US.

The company's success is built on its proprietary technology, search algorithms, and data analytics, which aim to bring trust and transparency to the car buying process. CarGurus uses complex mathematical algorithms to analyze millions of car listings daily, considering factors like price, mileage, trim, options, accident history, and location to provide an Instant Market Value (IMV). This consumer-first mentality, focused on providing transparent and trustworthy information, has resonated with users and dealers alike, leading to an active network of over 40,000 dealers in the US. CarGurus went public in October 2017, trading on the Nasdaq Global Select Market. Over the years, CarGurus has expanded its reach and offerings through strategic acquisitions, including the UK-based PistonHeads in 2018, US auto listings site Autolist in 2020, and a majority stake in the wholesale vehicle platform CarOffer in 2020, which it fully acquired in 2023. Langley Steinert served as CEO until January 2021, when then-CFO Jason Trevisan took the helm. Today, CarGurus operates online marketplaces in the United States, Canada, and the United Kingdom, continuing its mission to empower consumers and dealers in the automotive market. In 2024, CarGurus celebrated the opening of its new global headquarters in Boston's Back Bay, marking a new chapter in its growth story.