2011–2014: Pre-IPO
In January 2011, TrueCar released ClearBook, a used vehicle index that analyzes the used car market in the same way TrueCar did for new cars.[13][14] In May, it acquired News Corp-backed Honk.com, a social car shopping platform.[15]
In late 2011, it launched a television advertising campaign with commercials promoting its services.[16] Shortly thereafter, TrueCar faced backlash from the automotive industry,[17] when several state agencies and regulators notified TrueCar that its practices were noncompliant with some state laws.[18][19]
In response to those notices, TrueCar overhauled its pricing structure,[16] and moved from a pay-per-sale model to a performance-adjusted subscription model for dealers in some states.[20] Meanwhile, in August, it acquired ALG, a company that provides information on future residual values of vehicles.[21]
In a $150 million deal announced in January 2012, the company entered into an exclusive three-year partnership with Yahoo!, taking over and replacing its automotive services with its own solution.[22]
TrueCar launched the first all-female racing team in 2012, with support from Penske Media Corporation and Dragon Racing.[23][24] In June, The Virgin Group announced its partnership in support of TrueCar's "Women Empowered" initiative.[23]
On May 16, 2014, TrueCar became publicly traded on NASDAQ under the stock ticker symbol TRUE.[25]
