TrueCar.com, a Santa Monica, Calif.-based negotiation-free car-buying platform, announced that it has filed a registration statement (read here) with the Securities and Exchange Commission for a proposed initial public offering of its common stock.
The number of shares to be offered and the price range for the proposed offering have not been determined.
Goldman, Sachs & Co. and J.P. Morgan Securities LLC will act as the joint book-running managers for the offering.
Led by Scott Painter, Founder and CEO, TrueCar.com is a negotiation-free car buying platform, which allows car buyers to access to insight into what others actually paid, upfront pricing info, a guaranteed savings certificate and a connection to certified dealers to complete the car purchase.
It operates a national network of nearly 7,000 certified dealers that provides negotiation-free pricing for some large membership and service organizations, including AARP, American Express, AAA, USAA and Consumer Reports.
For the company, FinSMEs has reported this financing deals:
12/12/2013: TrueCar.com Raises $30M in Funding
07/09/2011: TrueCar Secures up to $200M in Debt and Equity Financing
20/07/2010: TrueCar Secures $35.5M