Deloitte Names TrueCar to its "Technology Fast 500™" for Third Consecutive Year
Providing Transparent Automotive Pricing Information to Dealers and Consumers Helps SoCal Company Thrive in 2013
Nov 21, 2013, 01:00 ET
SANTA MONICA, Calif., Nov. 21, 2013 /PRNewswire/ -- TrueCar Inc., an authority on new car pricing information, trends and forecasting, today announced it ranked 154th on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
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TrueCar founder and President Scott Painter says TrueCar and its national Certified Dealer Network now account for nearly three percent of all U.S. retail vehicle sales (more than 40,000 per month) by offering guaranteed savings and a no-hassle process to 2.5 million monthly unique visitors.
"We're happy to be part of a growing Silicon Beach technology community and we're proud to be recognized by Deloitte for the third consecutive year," said Painter. "Together with our more than 6,600 dealer partners, we look forward to continued growth while enabling consumers and dealers to enjoy a no-hassle car buying experience."
"The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. "This year's list is a who's who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next."
"The fastest growing companies in the U.S. are drivers of constant innovation and operate with the agility to stay ahead of a quickly evolving marketplace, and software, biotech/pharma and internet companies continue to be at the forefront," added James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP. "The companies excelling in these sectors have a startup mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year."
Overall, 2013 Technology Fast 500™ companies achieved revenue growth ranging from 137 percent to 208,897 percent from 2008 to 2012, with an average growth of 2,600 percent. TrueCar previously ranked 63rd and 99th as a Technology Fast 500™ award winner for 2011 and 2012, respectively.
About Deloitte's 2013 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies—both public and private—in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2008 to 2012.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
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 and 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, compiles, and analyzes car-buying information unlike anybody in the industry. This is why, since its founding in 2005, TrueCar dealer partners have sold more than 1 million vehicles across the country. Its national network of more than 6,600 Certified Dealers is committed to provide no-hassle pricing 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.