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October 09, 2015 7:41 AM ET

Internet Software and Services

Company Overview of TrueCar, Inc.

Company Overview

TrueCar, Inc. operates as an Internet-based information, technology, and communication services company. The company operates its platform on the TrueCar Website and TrueCar mobile applications. It also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises. The company’s platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers. In addition, it provides data and consulting services regarding determination of the residual value of an automobile at future given points in...

120 Broadway

Suite 200

Santa Monica, CA 90401

United States

Founded in 2005

463 Employees



Key Executives for TrueCar, Inc.

Co-Founder, Chairman and Chief Executive Officer
Age: 46
Total Annual Compensation: $450.0K
Chief Financial Officer and Principal Operating Officer
Age: 50
Total Annual Compensation: $240.0K
Chief Risk Management Officer and Executive Vice President
Age: 56
Total Annual Compensation: $323.9K
Compensation as of Fiscal Year 2014.

TrueCar, Inc. Key Developments

TrueCar, Inc. Announces Changes to Management Team

On September 8, 2015, John Krafcik, President of TrueCar, Inc. and a member of its Board of Directors notified the company that he will resign from his position as the company's President effective September 15, 2015. Mr. Krafcik has elected to continue to serve as a member of the Board. As President, Mr. Krafcik was the company's principal operating officer. At the request of the Board, Michael Guthrie, Chief Financial Officer, has agreed to assume the additional role of Interim Chief Operating Officer, and as such will become the company's principal operating officer, effective September 15, 2015. Michael Guthrie, 50, has served as Chief Financial Officer since January 2012. Prior to joining the Company, Mr. Guthrie was Senior Vice President, Business Development at SharesPost, Inc. from January 2011 to October 2011. From February 2009 to January 2011, Mr. Guthrie served as a principal at Saful Consulting, where he advised public and private technology companies on strategic matters.

TrueCar, Inc. Reports Sales Results for the Month of August 2015

TrueCar, Inc. reported sales results for the month of August 2015. For the period, total light vehicle sales should reach 17.4 million units in August versus 17.3 million units a year ago, even with a slight decline in overall volume. Total new vehicle sales, including fleet deliveries, may decrease by 2.9% to 1,539,400 from 1,586,015 a year ago.

California New Car Dealers Association Files Updated Legal Action Against TrueCar

California New Car Dealers Association (CNCDA) strengthened its legal action against TrueCar for its noncompliance with various sections of the California Vehicle Code ("CVC") pertaining to dealer licensing, brokering, advertising and disclosure, by incorporating statements made in recent weeks by TrueCar leadership and others active in the automotive marketplace. In an updated filing in Los Angeles Superior Court's Santa Monica branch, CNCDA asks the court to rule that TrueCar must adhere to the same CVC rules and regulations as other auto dealers and auto brokers throughout the state of California and that TrueCar's current operations "violate the CVC sections pertaining to dealer licensing and auto broker endorsements." This updated legal action by the CNCDA follows recent legal actions against TrueCar by both TrueCar and non-TrueCar auto dealers in California and New York State, charging TrueCarwith deceptive advertising and unfair competition.

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