The offering is expected to close on October 16, , subject to customary closing conditions. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 11, This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering is being made only by means of a prospectus. Founded in by Langley Steinert, co-founder of TripAdvisor , CarGurus is a global, online automotive marketplace connecting buyers and sellers of new and used cars. Skip to main navigation. Then, deal rating is the default variable for sorting the remaining listings. Foreign markets represent a tremendous opportunity for growth for CARG. Steinert has extensive experience implementing a global platform through his leadership at TRIP.
Collectively, these countries have 38, dealerships. Since the U. Despite being in existence for over a decade, CARG has provided only two full years of operating results. However, investors can glean some critical insights from the available information. However, these ratios should normalize as CARG approaches its steady state. Investors who believe CARG has a more compelling value proposition for dealerships should view the IPO price as an attractive entry point.
CARG's lofty valuation assumes CARG will retain the yellow jersey for many years as it builds a large, stable revenue base that generates strong profit margins. However, there are minimal barriers to entry in the rapidly changing world of e-commerce. I wrote this article myself, and it expresses my own opinions.
I am not receiving compensation for it other than from Seeking Alpha. I have no business relationship with any company whose stock is mentioned in this article. James Brender Followers. The Company Cargurus, Inc. CARG established its market leading position through solid execution of a sound strategy that focuses on the following: Aggregating data that helps car buyers make a more informed decision.
Attracting a large inventory of vehicles for sale. Establishing trust with car buyers. Creating value-added products for dealers. Provide CARG with substantial news coverage that will heighten its brand awareness. CARG is still in enjoying a period of hyper growth.
Expect depreciation and amortization to increase over at least the medium term. CARG capitalizes the cost of developing software. Key Stats 1H17 U.
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CarGurus, Inc. Announces Closing of Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares. CarGurus, Inc., today announced the pricing of its initial public offering of 9,, shares of its Class A common stock at a public offering. The company raised $ million in its IPO, selling stock at $16 a share. The fact that shares have gone as high as $30 during its first day of.