Minister of State Michael D’Arcy and CarGurus, Inc. COO Sam Zales officially opened the new office at a ceremony today
Expansion follows CarGurus significant growth in the US, where www.cargurus.com is the most visited online automotive marketplace
CarGurus recently closed a US IPO on October 16, 2017.
DUBLIN, Ireland, November 15 - CarGurus (NASDAQ: CARG), a leading global online automotive marketplace, has announced that it has expanded its European headquarters in Dublin. CarGurus now occupies new 13,500 sq ft premises on Upper Hatch Street in the city, a move which will help to create new jobs across most areas of its European operation. The expansion is part of a concerted effort to ramp up its European business and comes on the heels of a US IPO that closed on 16th October this year.
CarGurus was founded in 2006 and has become the most visited online automotive marketplace in the US. The company uses technology, proprietary algorithms and data analytics to bring trust and transparency to the automotive search process and help consumers find great deals from top-rated dealers.
The company launched its European operation in 2015 and opened its first European office in Dublin in 2016. CarGurus’ UK marketplace (www.cargurus.co.uk) is gaining momentum with car shoppers and dealers alike. CarGurus’ German marketplace (www.cargurus.de) launched earlier this year.
Remarking on today’s announcement, Minister of State Michael D’Arcy commented:
“CarGurus is a very welcome addition to the thriving tech industry in Ireland. Ireland continues to attract high growth international companies, not least due to the talented workforce and Ireland’s business-friendly environment. I continue to work to prioritise talent as a key component of the Government’s strategy for the sector, IFS 2020. I wish CarGurus and its staff all the best for the future”.
Speaking about the news, Martin Shanahan CEO of IDA Ireland, said:
“The European HQ here in Ireland is strategically important for the company as it enables CarGurus to serve and grow its customer base in Europe. Ireland continues to attract the best and brightest of today’s technology companies to our shores.”
Commenting on the expansion news, Sam Zales, CarGurus, Inc. Chief Operating Officer said:
“We have made exciting progress with our international business since launching our UK marketplace two years ago, and this move creates the space we need to further grow our operations. We have enormous confidence in the talent pool in Dublin and expanding our CarGurus team here will enable us to deliver even more value for our users and our dealer customers.”
Founded in 2006, CarGurus (NASDAQ:CARG) is a global, online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find great deals from top rated dealers. In addition to the United States, CarGurus operates online marketplaces in Canada, the United Kingdom and Germany. To learn more about CarGurus, visit www.cargurus.com.
Cautionary Language Concerning Forward-Looking Statements
This press release includes forward-looking statements. All statements contained in this press release other than statements of historical facts, including, without limitation, statements regarding our future financial and business performance, are forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation, risks related to our rapid growth and ability to sustain our revenue growth rate, our relationships with dealers, competition in the markets in which we operate, market growth, our ability to innovate and manage our growth, our ability to expand effectively into new markets, and our ability to operate in compliance with applicable laws, as well as other risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2017 and subsequent reports that we file with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. We are under no duty to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.
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