Together, the two brands create a powerful platform for dealers and consumers in buying, selling and sourcing vehicles. However, he’s found the “secret weapon” in his partnership with CarGurus and CarOffer. That's down from 921 at the end of December 2019. The acquisition adds wholesale vehicle acquisition and selling capabilities to CarGurus’ portfolio of dealer offerings. The CarOffer platform launched in August 2019 and has emerged to become a … CarGurus Completes Acquisition of CarOffer. December 10, 2020 11:46 AM. The acquisition adds wholesale vehicle acquisition and selling capabilities to … … CarGurus said it agreed to buy a 51 percent stake in CarOffer, a wholesale trading platform founded by auto retail tech entrepreneur Bruce Thompson. Cambridge, MA, January 14, 2021 – CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced it has completed the acquisition of a 51% interest in CarOffer, with the ability to buy the remaining equity interest in the company over the next three years. The impressive benchmark comes only two and a half years after launching its … ADDISON, Texas, May 21, 2021 (GLOBE NEWSWIRE) -- CarOffer, the fast-growing inventory acquisition innovator and part of the CarGurus network (Nasdaq: CARG), today shared it reached record-breaking levels of dealer enrollment on its automated instant wholesale vehicle trade platform. CarGurus’ Subsidiary CarOffer Reaches a Major Milestone of 10,000 Enrolled Dealer Rooftops on its Industry-Leading Inventory Trading Platform. CAMBRIDGE, Mass., Jan. 14, 2021 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced it has completed the acquisition of a 51% interest in CarOffer, with the ability to buy the remaining equity interest in the company over the next three years.The acquisition adds wholesale vehicle acquisition and … CarOffer is the automotive industry’s first instant trade platform for modern-day retailing that helps dealers trade more, buy more and make more. CarOffer, the fast-growing pre-owned vehicle trading innovator and part of the CarGurus network (Nasdaq: CARG), today announced it has launched the first national non-affiliated online pre-owned vehicle exchange desk, PremiumXchange™ (PX). Cadwalader provided tax advice to CarOffer in the transaction. While the companies wouldn’t disclose the deal’s full financial details, on the webcast CarGurus chief financial officer Jason Trevisan put the “enterprise valuation” of its 51% stake in CarOffer at $275 million—half stock, half balance sheet cash. ADDISON, Texas, Feb. 15, 2022 (GLOBE NEWSWIRE) -- CarOffer, the fast-growing inventory acquisition innovator and part of the CarGurus network (Nasdaq: CARG), proudly announced it has enrolled 10,000 dealer rooftops 1 on its automated instant wholesale vehicle trade platform. CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, announced it has completed the acquisition of a 51% interest in CarOffer, with the ability to buy the remaining equity interest in the company over the next three years. Instead, dealers are looking beyond standard wholesale auctions to partners like CarGurus and CarOffer to help them acquire vehicles online. The impressive benchmark comes only two and a half years after launching its … The star of the quarter was their recently acquired subsidiary specialized in car auctions, CarOffer. The firm’s number of paying dealers numbered 30,754 at the end of the quarter, virtually even from last quarter and up 2% from a year prior. CarGurus paid around $140 million for the stake—half of which was in CarGurus shares, the other half in cash—according … CarGurus, Inc. (NASDAQ: CARG), a leading global online automotive marketplace, entered into a definitive agreement to acquire a 51% interest in Plano, TX-based CarOffer, at an enterprise valuation of $275 million, with the ability to buy the remaining equity interest over the next three years. CarGurus Completes Acquisition of CarOffer January 14, 2021 Associated Press. ADDISON, Texas, Feb. 15, 2022 (GLOBE NEWSWIRE) -- CarOffer, the fast-growing inventory acquisition innovator and part of the CarGurus network (Nasdaq: CARG), proudly announced it has enrolled 10,000 dealer rooftops 1 on its automated instant wholesale vehicle trade platform. Published: Jan 14, 2021, 10:00 PM UTC GlobeNewswire CAMBRIDGE, Mass., Jan. 14, 2021 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced it has completed the acquisition of a 51% interest in CarOffer, with the ability to buy the remaining … The deal is valued at $275 million David Muller. In This Article. Dealerships that are a part of the CarGurus/CarOffer network can acquire this inventory by filling out CarOffer’s proprietary Buying Matrix™. CarGurus has finalized its plan to buy a majority stake in online auction platform CarOffer. CAMBRIDGE, Mass., Dec. 10, 2020 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced it has entered into a definitive agreement to acquire a 51% interest in Plano, TX-based CarOffer at an enterprise valuation of $275M, with the ability to buy the remaining equity interest in the company over … CarGurus is the largest automotive marketplace in the United States, with more visitors 1 and more inventory than any other major online automotive marketplace 2.The company also has the largest dealer network in the U.S. 3, with roughly 24,000 subscribed dealers.With this acquisition, the company plans to expand dealer participation on the CarOffer platform, … CarOffer provides dealers with the next level of trading power. CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced it has completed the acquisition of a 51% interest in CarOffer, with the ability to buy the remaining equity interest in the company over the next three years. To learn more about how to acquire inventory from CarOffer, fill out the form and your CarGurus representative will contact you shortly. CAMBRIDGE, Mass., Jan. 14, 2021 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced it has completed the acquisition of a 51% interest in CarOffer, with the ability to buy CarGurus, which would acquire 51% interest in this deal, has the ability to also purchase CarOffer’s remaining equity interest over the next three years. The acquisition adds wholesale vehicle acquisition and selling capabilities to CarGurus’ portfolio of dealer offerings. CarOffer was founded by auto industry veteran, Bruce Thompson, who will continue to lead the CarOffer brand and team from their Plano, Texas location. Acquisition Will Fuel CarGurus’ Platform Growth, With Expanded Capabilities To Help Dealers Buy and Sell Wholesale InventoryCAMBRIDGE, Mass., Dec. 10, 2020 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced it has entered into a definitive agreement to acquire a 51% interest in Plano, TX … Many new faces joined the team of CarGurus Inc. last year, mostly through the company's $275 million acquisition of Texas startup CarOffer LLC. CarGurus has partnered with CarOffer to help dealers source and sell vehicles efficiently. CarGurus is the largest automotive marketplace in the United States, with more visitors 1 and more inventory than any other major online automotive marketplace 2.The company also has the largest dealer network in the U.S. 3, with roughly 24,000 subscribed dealers.With this acquisition, the company plans to expand dealer participation on the CarOffer platform, … The acquisition adds wholesale vehicle acquisition and … CarGurus had 827 full-time employees as of Dec. 31, according to its most recent annual report, filed in February. CarGurus has wrapped up its purchase of a majority stake in CarOffer. With our Buying Matrix, dealers can buy, sell, and group trade pre-owned cars with assurance. CarOffer was founded by auto industry veteran, Bruce Thompson, who will continue to lead the CarOffer brand and … CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, announced it has completed the acquisition of a 51% interest in CarOffer, with the ability to buy the remaining equity interest in the company over the next three years. A Plano startup is getting acquired in a deal that values the company at $275 million. Acquired vehicles will be picked up via a ‘white glove’ concierge service, inspected and delivered to their lot. At Navigate last month, CarOffer Founder & CEO Bruce Thompson and CarGurus VP of Product Management Andrew Grochal explained the advantages of digital wholesaling. CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced it has completed the acquisition of a 51% interest in CarOffer, with the ability to buy the remaining equity interest in the company over the next three years. ... CarOffer is a CarGurus (NASDAQ: CARG) company. CarOffer is an innovative platform for car dealers to buy, sell, and trade with automation and ease. CarGurus Completes Acquisition of CarOffer. CarGurus’s marketplace held steady despite the vehicle shortage stemming from the global supply-chain crisis. CAMBRIDGE, Mass., Jan. 14, 2021 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced it has completed the acquisition of a 51% interest in CarOffer, with the ability to buy the remaining equity interest in the company over the next three years. Through CarGurus Instant Max Cash Offer, consumers in Georgia, Michigan, Pennsylvania, Connecticut and Rhode Island can now sell their vehicle digitally from the comfort of their home and can be assured that they will be presented the highest available offer from the thousands of dealerships in the automated CarGurus/CarOffer platform. Online auto marketplace CarGurus.com made a major push into wholesale vehicle sales Thursday, announcing an agreement to purchase a 51% stake in CarOffer, a web-based wholesale trade platform. Under the agreement, CarGurus, based in Cambridge, Mass., will have the option to buy the remaining equity in CarOffer over the next three years. market. Leveraging the power of data, national scale, and the company’s proprietary Buying Matrix technology, the platform helps dealers acquire and exchange used inventory more efficiently. CarGurus acquired 51% of CarOffer in January, paying $140 million in cash and shares. The acquisition adds wholesale vehicle acquisition and selling capabilities to CarGurus’ portfolio of dealer offerings. CarGurus now owns 51% of CarOffer and has the right to buy the remaining equity interest in the firm over the next three years, the company announced. CarGurus completes deal to buy 51% stake in CarOffer.