CAMBRIDGE, Mass., April 4, 2019 /PRNewswire/ -- CarGurus, a leading automotive marketplace, today announced the launch of the CarGurus Open Source Fund (OSF). This employee-led charitable initiative will give back to the open source projects that help fuel the company's market-leading technology. Members of the CarGurus engineering team founded the Open Source Fund to empower engineers to choose open source projects for which they have a passion and believe are deserving of financial support.
Open source projects provide the collaborative, open development of software code that enables companies like CarGurus to access technical innovation beyond their own resources. The CarGurus Open Source Fund's contributions will be designed to help ensure the sustainability of open source projects and engineers' access to that extra layer of code development.
"Open source code is critically important to how CarGurus builds its systems and products, and we benefit tremendously from the altruism of the open source community," said Kyle Lomeli, CTO at CarGurus. "By forming the CarGurus Open Source Fund we are able to give back to the open source projects that continue to give our team the technical tools to do our jobs at scale. We look forward to helping the open source community thrive as our engineering team grows and more employees become eligible to allocate quarterly funds."
Through the OSF, CarGurus hopes to show an appreciation and fulfill a responsibility to support the open source community so that other technology companies can continue to have the same opportunity to innovate and grow. Open source projects will become eligible for nomination on a quarterly basis based on their significance to either CarGurus and/or its employees. Once nominated, an internal committee will oversee the finalists and determine donation distribution. The quarterly allocation is based on the number of participating employees and will grow as the team grows. Each year, CarGurus intends to fund donations under the OSF to open source projects reaching more than $100,000.
In the first round of donations, CarGurus employees selected the following organizations or projects:
- Apache Software Foundation
- Linux Kernel
- Open Web Application Security Project (OWASP)
Notably, due to the volume of projects that CarGurus develops using software from the Apache Software Foundation, they will be receiving a donation of more than $12,000. By contributing a significant amount to Apache, CarGurus will proudly become a foundation sponsor in support of the stable, well-maintained projects it provides.
Founded in 2006, CarGurus (Nasdaq: CARG) is a global, online automotive marketplace connecting buyers and sellers of new and used cars. The Company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find great deals from top-rated dealers. CarGurus is the largest automotive shopping site in the U.S. by unique monthly visitors (source: Comscore Media Metrix® Multi-Platform, Automotive – Information/Resources, Total Audience, Q4 2018, U.S. (Competitive set includes: CarGurus.com, Autotrader.com, Cars.com, TrueCar.com)). In addition to the United States, CarGurus operates online marketplaces in Canada, the United Kingdom, Germany, Italy, and Spain.
To learn more about CarGurus, visit www.cargurus.com.
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