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TrueCar Files to Raise $125 Million in IPO

TrueCar Inc., the online auto-shopping service backed by Microsoft Corp. co-founder Paul Allen, filed to raise $125 million in a U.S. initial public offering.

The figure is a placeholder used to calculate fees and may change. TrueCar, based in Santa Monica, California, plans to use the net proceeds from the offering primarily for general corporate purposes, including working capital, operating expenses and capital expenditures, according to a filing with U.S. Securities and Exchange Commission today.