TrueCar Joins Red Herring's Top 100 North America Companies

SANTA MONICA, Calif., July 26, 2011 /PRNewswire/ -- TrueCar, Inc., has joined the likes of Facebook, Twitter and Google in being named one of the Top 100 North America companies as chosen by the editors of Red Herring.

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Each year, Red Herring recognizes the leading private companies from around the world and celebrates those innovators across their respective industries.   The Top 100 North America list has become a mark of distinction for identifying the most promising new efforts and entrepreneurs. Red Herring editors were among the first to recognize companies such as Facebook, Twitter, Google, Yahoo!, Skype, Salesforce.com, YouTube and eBay as entities that would change the way individuals live and work. 

This year, TrueCar was added to the Top 100 North America list for 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 offers 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 an industry plagued by price manipulation and distrust. By removing frustration, fear and complexity, TrueCar makes car buying simple, fair and fun again.

"We are honored to be added to the list of prestigious companies that have been recognized by Red Herring," said TrueCar Founder and CEO Scott Painter.  "What all these great companies share in common is their dedication to innovation and significantly improving people's lives – something we are committed to here at TrueCar."

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.  Additionally, TrueCar powers the car buying marketplace for more than 60 affinity partners providing its unique gateway and resource to more than one million in-market automobile shoppers each month at membership and service organizations such as USAA, AAA and American Express.

In selecting its Top 100, Red Herring's editorial staff evaluates the private companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of business and technology potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the "buzz" and make the list a valuable instrument of discovery and advocacy for the most promising new business models in North America.

"Choosing the companies with the strongest potential was by no means a small feat," said Alex Vieux, publisher and CEO of Red Herring. "After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the Top 100 winners. We believe TrueCar embodies the vision, drive and innovation that define a successful entrepreneurial venture. TrueCar should be proud of its accomplishment, as the competition was very strong."

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.com price reports help both dealers and consumers 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.

About Red Herring

Red Herring, Inc., founded in 1993, is a media company whose mission is to cover innovation, technology, financing and entrepreneurial activity. Its staff of award-winning journalists tell readers what's first, what matters and most importantly, why.

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Scott Painter

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SOURCE TrueCar, Inc.