TrueCar Company submits initial public offering application

April 4, according to foreign media reports, the company operating a car price parity website TrueCar.com TrueCar today to the Securities and Exchange Commission submitted an initial public offering (IPO) application, to the highest financing of 125 million U.S. dollars.

TrueCar, Santa Monica, Calif., founded in 2005 by CarsDirect.com founder Scott Pentel (Scott painter), was an early advisor to Tesla Motor. Pentel once said in an interview that the company had rejected an offer to buy more than 1 billion dollars.

TrueCar provides consumers with price information from 7,000 dealers to help consumers buy and choose cars, including online car sites autotrader.com, autobytel.com and Cars.com. TrueCar revenue from advertising and operators to pay the membership fees. The company's earnings report showed revenues of $134 million trillion last year as of December 31, 2013, up 67% from a year earlier. But last year the company lost $25 million in net losses, compared with a net loss of $74.5 million in the previous year.

TrueCar last December that Vulcan Capital, a company co-founder of Microsoft, Allen, invested $30 million trillion. In addition, the company has received investment from other investors, mainly including VC company Upfront Ventures, billionaire Jeff Scoll (Jeff Skoll) Capricorn Investment Group and insurance company USAA.

TrueCar did not disclose the IPO price. However, the company said the IPO was in the Nasdaq stock exchange, and the common stock trading code was "TRUE". The IPO's main underwriter is Goldman Sachs and JPMorgan Securities (J.P Morgan Nomura LLC), TrueCar in a preliminary prospectus to the Securities and Exchange Commission.

According to EY, a consultancy, the current economic fundamentals and the strength of the capital markets have improved the U.S. IPO market, with the number of IPOs in the first quarter rising by one fold. (Tianmen Mountain)