SANTA MONICA, Calif., Aug. 30, 2011 /PRNewswire/ -- Inc. Magazine has added TrueCar, Inc., the only transparent publisher of real-time new and used vehicle transaction data in the US market, to its 30th annual Inc. 500, an exclusive ranking of the nation's fastest-growing private companies. TrueCar joins a long list of world-renowned brands, including Microsoft, Zappos, Intuit, Jamba Juice, Zipcar, Clif Bar, Vizio, Oracle, and many other well-known companies that gained early exposure as members of the Inc. 500.
TrueCar also placed #30 within the Consumer Products and Services category of the Inc. 500, and #42 among companies located in Los Angeles.
The 2011 Inc. 500, unveiled in the September issue of Inc., is a group of companies that are smaller but much faster-growing than last year's selections. Aggregate revenue is $10.5 billion, with a median three-year growth of 1,275 percent. The companies on this year's list employ more than 46,000 people and generated over 35,000 jobs in the past three years.
TrueCar has experienced exceptional growth from 2007 – 2010, with 721 percent revenue growth during that period. TrueCar has revolutionized the automotive retail world, creating an intelligent automotive marketplace where complex, real-world price and transaction data is collected, analyzed and presented to everyday consumers in easy-to-understand info-graphics. Dealers then directly extend upfront prices to interested buyers who are armed with real, data-driven pricing information allowing them to determine which offers are best.
First-time buyers and dealers benefit in this one-of-a-kind marketplace that brings truth, trust and transparency to the automotive retail industry. By removing frustration and complexity from car buying, TrueCar makes the entire process simple, fair and fun.
"It is an honor to join the collection of companies that have been recognized on the Inc. 500 list," said TrueCar Founder and CEO Scott Painter. "These companies represent the realization of the American dream – strong, forward-thinking businesses that play a vital role in our economy and strength as a nation."
To date, TrueCar has helped consumers save more than $1 billion off the MSRP of new cars, and its technology has facilitated the sale of more than 300,000 vehicles. TrueCar works with a nationwide network of over 5,000 Certified Dealers that provide informed consumers with upfront, no-haggle, no-hassle, competitive pricing. TrueCar also powers the car buying marketplace for more than 60 affinity partners representing more than one million in-market car shoppers each month at membership and service organizations such as USAA, AAA and American Express.
About TrueCar, Inc.
TrueCar, Inc. is an automotive solutions provider focused on changing how cars are sold by providing a significantly better customer experience while helping qualified dealer partners to gain incremental market share and reduce costs. As a transparent, visual publisher of new car transaction data, TrueCar price reports help both dealers and consumers to agree on the parameters of a fair deal by providing an accurate, comprehensive and simple understanding of what others actually paid for the identically equipped new car over the last 30 days both locally and nationally.
TrueCar, Inc. is headquartered in Santa Monica, CA and has offices in San Francisco. The company was founded in 2005 and has been profitable since 2009. With 131 percent annual growth since 2006, TrueCar has driven over 300,000 sales and is developing a suite of transaction oriented products and services centered on transparency and radical clarity as a result of comprehensively analyzing market data and information. You can follow TrueCar on Twitter and become a fan of TrueCar on Facebook.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 710,106, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit Inc. Magazine online at www.inc.com.
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SOURCE TrueCar, Inc.