LOS ANGELES, Nov. 19, 2012 /PRNewswire/ -- TrueCar, Inc., the Santa Monica-based automotive pricing information, data and analysis company for new and used cars, has been named the Fastest Growing Private Company in Los Angeles with revenues below $50 million per year, according to the Los Angeles Business Journal ("LABJ"). TrueCar, founded in 2005 by entrepreneur Scott Painter, ranks seventh among all L.A. County businesses on LABJ's overall 2012 list.
The LABJ annually compiles a list of the 100 fastest growing private companies in greater Los Angeles, reviewed more than 1,000 submissions before establishing its annual top 100. CEOs and top executives from companies on the list were saluted Monday evening at the SLS Hotel in Beverly Hills.
This is the third consecutive year the LABJ has recognized TrueCar among the city's Fastest Growing Private Companies. TrueCar ranked 11th in 2010 before moving up to eighth place last year.
The TrueCar dealer network currently consists of more than 5,200 certified dealers across the country who are dedicated to a "no-hassle" sales experience. These certified dealers have sold more 600,000 cars and trucks to TrueCar users in the last seven years. TrueCar.com is where consumers can discover what others have paid for similar vehicles in their area.
"TrueCar.com helps educate consumers about actual new and used vehicle pricing and delivers transparent data for auto dealers to supply a fair deal," says Painter, TrueCar founder and CEO. "Our mission of creating a company that provides a better car buying experience for dealers and consumers has worked well for our company and it's an honor that the editors at the Los Angeles Business Journal have once again recognized our hard work."
TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas, is an automotive pricing information and analysis company that creates a better buying experience for dealers and consumers. As an online publisher of unbiased new and used car transaction data, TrueCar.com provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for similarly-equipped new cars in their geographic area. TrueCar also owns ALG, the benchmark for vehicle value information to the automotive industry that has been forecasting residual values for nearly 50 years in both the U.S. and Canadian markets.
TrueCar is a data-driven company that sources and compiles car-buying information unlike anybody in the industry. This is why, since its founding in 2005, TrueCar dealer partners have sold over 600,000 vehicles across the country. Its national network of more than 5,200 Certified Dealers is committed to provide a no-hassle car buying experience for some of the country's largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.
You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+.
SOURCE TrueCar, Inc.