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NEW YORK, Oct. 12, 2017 (GLOBE NEWSWIRE) — CarGurus (Nasdaq:CARG), a global, online automotive marketplace connecting buyers and sellers of new and used cars, rang the opening bell at the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market.
Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6fb0139c-4d2e-4815-a6a0-991d95702e9chttp://www.globenewswire.com/NewsRoom/AttachmentNg/def608f2-f780-4360-87cf-3ef0e2ea0971On a mission to build the world’s most trusted and transparent automotive marketplace, CarGurus leverages proprietary technology, search algorithms and innovative data analytics to create a differentiated automotive search experience for consumers. The company’s marketplace empowers users with impartial third-party validation on pricing and dealer reputation as well as other information that aids them in finding great deals from top-rated dealers. As of June 30, 2017, the company touted an active dealer network of over 40,000 dealers, with their selection of over 5.4 million car listings being the largest number of car listings available on any of the major U.S. online automotive marketplaces.“We are thrilled to mark this milestone for CarGurus and celebrate such an auspicious moment in our company’s story with our partners at Nasdaq,” said Langley Steinert, Founder & CEO. “In the world of online marketplaces, we have always believed that trust and transparency are the biggest draw for consumers. These are the principles we founded CarGurus on and we look forward to further establishing ourselves as the top destination for online car buying and selling as we embark on this new chapter.”“CarGurus is a trusted, transparent marketplace,” said Nelson Griggs, President of the Nasdaq Stock Exchange. “Their online automotive marketplace model drives powerful network effects and offers an industry-leading inventory selection. Nasdaq is proud to partner with CarGurus during their journey as a public company.”The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Information about the company is provided by the company or comes from the company’s public filings and is not independently verified by Nasdaq. Neither Nasdaq nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.About NasdaqNasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $12 trillion. To learn more, visit: http://business.nasdaq.comMedia Relations Contact:Stephanie Lowenthal