TrueCar, Inc. (TRUE) Files $125M IPO
- Wall St. edges higher as earnings gather pace
- Alibaba (BABA) Tops Q3 EPS by 17c, Revenues Rise 54%
- DuPont (DD) Tops Q4 EPS by 9c; Sees Merger Closing in First Half
- Johnson & Johnson (JNJ) Tops Q4 EPS by 2c; Guides Modestly Below the Street
- Pre-Open Stock Movers 01/24: (MPSX) (IIVI) (AKS) Higher; (FSM) (OCUL) (VZ) Lower (more...)
TrueCar, Inc. (Nasdaq: TRUE) filed a registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its Common Stock. The proposed maximum offering price is $125 million. The company plans to list on the Nasdaq Global Select Market under the ticker,
The offering is being made via Goldman, Sachs & Co. and J.P. Morgan.
Weighted number of shares outstanding at the end of 2013 was about 87.81 million, or 88.28 million on a pro forma basis.
Our network of over 7,000 TrueCar Certified Dealers consists primarily of new car franchises, representing all major makes of cars, as well as independent dealers. TrueCar Certified Dealers operate in all 50 states and the District of Columbia. We estimate that users of our platform purchasing cars from TrueCar Certified Dealers accounted for approximately 2.0% of all new car sales in the United States in 2013. Since our founding in 2005, TrueCar users have purchased over 1.1 million cars from TrueCar Certified Dealers, including nearly 400,000 during 2013.
During 2013, we generated revenues of $134.0 million and recorded a net loss of $25.1 million. Of the $134.0 million in revenue, 89% consisted of transaction revenues with the remaining 11% derived primarily from the sale of data and consulting services to the automotive and financial services industries. Transaction revenues primarily consist of fees paid to us by our network of TrueCar Certified Dealers under our pay-for-performance business model where we generally earn a fee only when a TrueCar user purchases a car from them.
TrueCar's mission is to transform the car-buying experience for consumers and the way that dealers attract customers and sell cars. The company has established an intelligent, data-driven online platform operating on a common technology infrastructure, powered by proprietary data and analytics.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ramaco (METC) Launches IPO of 6M Shares at a Price of $12-$15
- Straight Path Communications (STRP) Announces Filing of Universal Shelf Registration
- Ocular Therapeutix (OCUL) Prices 3.57M Common Stock Offering at $7/Share
Create E-mail Alert Related CategoriesIPOs
Related EntitiesJPMorgan, S1, IPO
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!