Cambridge, MA (PRWEB) August 29, 2013
CarGurus (http://www.CarGurus.com), the nation’s fastest growing car shopping website, today announced it was named for the third consecutive year to the Inc. 500 list of the country’s fastest growing companies.
Since its inception in 2006, CarGurus has grown to become the fifth largest auto research and shopping site in the U.S., with more than 7 million unique monthly visitors.
For shoppers conducting searches on the site, CarGurus analyzes local inventory and returns matching listings in ranked order. Car listings that offer the greatest customer savings rank highest in search results, with additional ranking boosts for listings from car dealers that have received positive consumer reviews.
CarGurus also helps dealers connect to millions of in-market car shoppers. Because the site ordinates search results with built-in pricing validation, 95% of the customer leads sent from CarGurus to dealers are for inventory that has been mathematically validated as a Great, Good or Fair Deal. As a result, these leads convert to vehicle sales at rates far above the industry average for third party lead providers.
"Our goal at CarGurus is to create a transparent marketplace that is a win-win for dealers and shoppers, and we love that the market is responding," said Langley Steinert, founder and CEO of CarGurus. "We owe our growth to a talented team whose innovation and creativity has allowed us to stay a step ahead of an evolving industry while exceeding the expectations of our users and partners."
The Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2009 to 2012. Companies must be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2012.
CarGurus (http://www.cargurus.com) is a leading online automotive destination focused on bringing transparency to the car research and shopping experience. Our free listings search tool helps shoppers compare available car listings from their desktop or mobile device and quickly identify the best deals in their local area. Millions of car listings are analyzed daily to calculate the Instant
Market Value (IMV) and rank whether a deal is great, good, fair or overpriced compared to similar local listings. Specific details factor into the analysis, including make, model, trim, year, mileage, options, location and vehicle history.
Located in Cambridge, MA, CarGurus was founded in 2006 by Langley Steinert, co-founder and former Chairman of TripAdvisor. More than 7 million users visit CarGurus each month to research and shop for new and used cars, making the site the 5th most trafficked auto shopping website and the fastest growing.