Nasdaq Welcomes CarGurus (NASDAQ: CARG) to the Nasdaq Stock Market
October 12 2017 - 10:54AM
CarGurus (Nasdaq:CARG), a global, online automotive marketplace
connecting buyers and sellers of new and used cars, rang the
opening bell at the Nasdaq MarketSite in Times Square today in
celebration of its initial public offering (IPO) on The Nasdaq
Stock Market.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/6fb0139c-4d2e-4815-a6a0-991d95702e9c
http://www.globenewswire.com/NewsRoom/AttachmentNg/def608f2-f780-4360-87cf-3ef0e2ea0971
On a mission to build the world's most trusted and transparent
automotive marketplace, CarGurus leverages proprietary technology,
search algorithms and innovative data analytics to create a
differentiated automotive search experience for consumers. The
company’s marketplace empowers users with impartial third-party
validation on pricing and dealer reputation as well as other
information that aids them in finding great deals from top-rated
dealers. As of June 30, 2017, the company touted an active dealer
network of over 40,000 dealers, with their selection of over 5.4
million car listings being the largest number of car listings
available on any of the major U.S. online automotive
marketplaces.
“We are thrilled to mark this milestone for CarGurus and
celebrate such an auspicious moment in our company’s story with our
partners at Nasdaq,” said Langley Steinert, Founder & CEO. “In
the world of online marketplaces, we have always believed that
trust and transparency are the biggest draw for consumers. These
are the principles we founded CarGurus on and we look forward to
further establishing ourselves as the top destination for online
car buying and selling as we embark on this new chapter.”
“CarGurus is a trusted, transparent marketplace,” said Nelson
Griggs, President of the Nasdaq Stock Exchange. “Their online
automotive marketplace model drives powerful network effects and
offers an industry-leading inventory selection. Nasdaq is proud to
partner with CarGurus during their journey as a public
company.”
The information contained above is provided for informational
and educational purposes only, and nothing contained herein should
be construed as investment advice, either on behalf of a particular
security or an overall investment strategy. Information about the
company is provided by the company or comes from the company’s
public filings and is not independently verified by Nasdaq.
Neither Nasdaq nor any of its affiliates makes any recommendation
to buy or sell any security or any representation about the
financial condition of any company. Statements regarding
Nasdaq-listed companies are not guarantees of future performance.
Actual results may differ materially from those expressed or
implied. Past performance is not indicative of future results.
Investors should undertake their own due diligence and carefully
evaluate companies before investing. ADVICE FROM A SECURITIES
PROFESSIONAL IS STRONGLY ADVISED.
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading,
clearing, exchange technology, listing, information and public
company services. Through its diverse portfolio of solutions,
Nasdaq enables customers to plan, optimize and execute their
business vision with confidence, using proven technologies that
provide transparency and insight for navigating today's global
capital markets. As the creator of the world's first electronic
stock market, its technology powers more than 90 marketplaces in 50
countries, and 1 in 10 of the world's securities transactions.
Nasdaq is home to approximately 3,900 total listings with a market
value of approximately $12 trillion. To learn more, visit:
http://business.nasdaq.com
Media Relations Contact:
Stephanie Lowenthal(646)
441-5073Stephanie.Lowenthal@nasdaq.com
Emily Pan(646) 441-5120emily.pan@nasdaq.com
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