Sign in

    CarGurus Inc (CARG)

    You might also like

    CarGurus, Inc. is a multinational online automotive platform that connects buyers and sellers of vehicles through its industry-leading listings marketplace. The company provides digital retail solutions and operates the CarOffer online wholesale platform, serving both consumers and dealerships. CarGurus leverages proprietary technology, search algorithms, and data analytics to enhance trust, transparency, and competitive pricing in the automotive shopping experience.

    1. U.S. Marketplace - Offers dealer subscriptions to listings packages, digital advertising, and digital retail services. Includes advertising by auto manufacturers and partnerships with financing services companies.
    2. Digital Wholesale - Facilitates Dealer-to-Dealer and Instant Max Cash Offer (IMCO) transactions through the CarOffer platform. Includes transaction fees, vehicle sales to dealers, and services like inspection and transportation.
    3. Other - Generates revenue from additional sources not categorized under the main segments, including operations in Canada and the United Kingdom.
    NamePositionExternal RolesShort Bio

    Jason Trevisan

    ExecutiveBoard

    Chief Executive Officer

    None

    Jason Trevisan has been CEO since January 2021, previously serving as CFO and Treasurer. He has a background in venture capital and holds an MBA from Dartmouth College.

    Dafna Sarnoff

    Executive

    Chief Marketing Officer

    None

    Dafna Sarnoff joined as CMO in December 2021, with a background in marketing for technology companies.

    Elisa Palazzo

    Executive

    Chief Financial Officer

    None

    Elisa Palazzo joined as CFO in December 2023, bringing nearly 20 years of experience in finance and investment roles. She holds an MBA from Harvard Business School.

    Javier Zamora

    Executive

    General Counsel and Corp. Sec.

    None

    Javier Zamora joined as General Counsel in August 2022, with prior roles at Converse and Nike. He holds a JD from DePaul University.

    Matthew Quinn

    Executive

    Chief Technology Officer

    None

    Matthew Quinn has been CTO since January 2022, with prior leadership roles at Audible and Amazon.

    Samuel Zales

    Executive

    President and COO

    None

    Samuel Zales has been with CarGurus since 2014, serving as President and COO since 2019. He has a strong background in operations and revenue growth.

    Zachary Hallowell

    Executive

    CEO of CarOffer

    None

    Zachary Hallowell became CEO of CarOffer in December 2023, with over two decades of experience in industry transformation.

    Greg Schwartz

    Board

    Board Member

    CEO and Chairman of Tomo Networks, Inc.

    Greg Schwartz has been a director since March 2018, with expertise in online marketplaces and executive leadership.

    Langley Steinert

    Board

    Executive Chair and Chair of Board

    Co-founder of ApartmentAdvisor, Inc.; Board member at Tuck School of Business

    Langley Steinert is the founder of CarGurus and served as CEO until January 2021. He is also involved with ApartmentAdvisor and Dartmouth College.

    Lori Hickok

    Board

    Board Member

    Board member at 1stdibs.com, Inc.; Second Harvest Food Bank of East Tennessee

    Lori Hickok has been on the Board since August 2018, with a strong finance background and board roles at other organizations.

    Manik Gupta

    Board

    Board Member

    Corporate VP of Microsoft Teams; Advisor and Investor

    Manik Gupta joined the Board in July 2023, with a background in product leadership at Microsoft and Uber.

    Stephen Kaufer

    Board

    Board Member

    CEO of Give Freely, LLC; Board member at Neuroendocrine Tumor Research Foundation

    Stephen Kaufer has been a director since 2007, with extensive experience in online marketplaces and executive leadership.

    1. With your plan to invest more in international growth in 2025, what specific forms will these investments take, and how should we think about the long-term payback period and potential impacts on Marketplace margins?
    2. As Amazon enters the automotive dealer space, how do you see the CarGurus platform positioned against such a formidable competitor, and what strategies are you implementing to mitigate potential risks from their entry?
    3. Despite strong free cash flow margins and conversions, you did not repurchase any shares in the quarter; can you elaborate on your capital allocation priorities, and why there were no share repurchases despite the active program?
    4. The turnaround effort for CarOffer continues; can you provide a clearer timeline or milestones for when you expect CarOffer to reach profitability and fully unleash its potential within your platform?
    5. Facing tougher comps in 2025, especially in the back half of the year, how confident are you in sustaining Marketplace revenue growth, and what are the primary drivers that will support this growth amidst increasing competition and market challenges?

    Competitors mentioned in the company's latest 10K filing.

    CompanyDescription

    AutoTrader.com

    Major U.S. online automotive marketplace that competes with the company to attract consumers and paying dealers to its marketplaces and services, and to attract advertisers to purchase advertising products and services.

    Carfax.com

    Major U.S. online automotive marketplace that competes with the company to attract consumers and paying dealers to its marketplaces and services, and to attract advertisers to purchase advertising products and services.

    Major U.S. online automotive marketplace that competes with the company to attract consumers and paying dealers to its marketplaces and services, and to attract advertisers to purchase advertising products and services.

    TrueCar.com

    Major U.S. online automotive marketplace that competes with the company to attract consumers and paying dealers to its marketplaces and services, and to attract advertisers to purchase advertising products and services.

    Edmunds.com

    U.S. automotive website that competes with the company to attract consumers and paying dealers to its marketplaces and services, and to attract advertisers to purchase advertising products and services.

    KBB.com

    U.S. automotive website that competes with the company to attract consumers and paying dealers to its marketplaces and services, and to attract advertisers to purchase advertising products and services.

    Carvana.com

    Online dealership that competes with the company to attract consumers and paying dealers to its marketplaces and services, and to attract advertisers to purchase advertising products and services.

    Craigslist.com

    Peer-to-peer marketplace that competes with the company to attract consumers and paying dealers to its marketplaces and services, and to attract advertisers to purchase advertising products and services.

    Vehicle auction company, including digital wholesale platforms, that competes with the company to attract consumers and dealers searching for vehicles.

    OPENLANE

    Vehicle auction company, including digital wholesale platforms, that competes with the company to attract consumers and dealers searching for vehicles.

    E INC

    Vehicle auction company, including digital wholesale platforms, that competes with the company to attract consumers and dealers searching for vehicles.

    E-commerce site that has a partnership with Hyundai to sell cars on its platform, competing with the company to attract consumers and paying dealers to its marketplaces and services.

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    CarOffer, LLC

    2023

    CarGurus acquired the remaining minority equity interests in CarOffer for $75 million in cash, with the transaction completed on December 1, 2023, via a Membership Interest Purchase Agreement including escrow provisions to secure indemnification and payment obligations. This deal is strategically aimed at integrating CarOffer's digital wholesale capabilities—such as its BuyingMatrix™ technology—to enhance CarGurus’ retail platform, and it involved operational enhancements along with the appointment of a new CEO, while maintaining CarOffer as a standalone brand in Addison, Texas.

    CarOffer, LLC

    2021

    CarGurus acquired a 51% stake in CarOffer in January 2021 for approximately $170 million through a mix of cash and stock, including the issuance of 3,115,282 shares at $22.51 per share and a retention pool for employees. This acquisition was intended to integrate wholesale vehicle trading capabilities with CarGurus’ Instant Market Value data, strengthening its digital solution for dealer transactions while keeping CarOffer’s operations based in Plano, Texas.