TrueCar, Inc. (TRUE)

TrueCar, Inc. operated an online automotive marketplace in the United States that gave consumers pricing information on new and used vehicles and connected them with a network of certified dealers. The company was founded by Scott Painter in 2005 as Zag.com and later renamed TrueCar. It was headquartered in Santa Monica, California.

Its platform used market-based pricing data to show shoppers what others paid for similar vehicles, and it generated revenue chiefly from fees paid by dealers and, through partnerships, from affinity groups and automakers. TrueCar also offered tools such as trade-in valuations and digital retailing software for dealers, and it provided residual value forecasting services used by lenders.

TrueCar completed its initial public offering in May 2014 and traded on Nasdaq under the symbol TRUE. Scott Painter left the chief executive role in 2015 and the company later went through several management changes. Over the years TrueCar worked to reduce costs and refocus its product on its core marketplace, while competing with larger automotive listing and car-buying sites.

In October 2025 TrueCar announced an agreement to be acquired by Fair Holdings, Inc., an automotive technology company led by Scott Painter, who was to return as chief executive. The consideration was $2.55 per share in cash, in a transaction valued at roughly $227 million. Fair Holdings' investors and strategic partners included AutoNation and several other companies.

TrueCar stockholders approved the merger on December 23, 2025. The deal required the customary closing conditions, and the board's review of the transaction was part of the agreement's process before the vote.

Fair Holdings announced completion of the acquisition in the week of January 21, 2026, and TrueCar's stock was no longer listed on Nasdaq. A Form 25 was filed on January 21, 2026, and the last trading day on Nasdaq was January 20. TrueCar continued to operate as a privately held business.

For stockholders, the deal replaced a minority position in a small-cap listed company with a cash payment of $2.55 per share. The company had faced years of competition in online automotive advertising and a market capitalization that had declined substantially from the time of its 2014 public offering. The return of founder Scott Painter as chief executive was a distinctive feature of the transaction. After closing, TrueCar is no longer required to file periodic reports with the SEC. The agreement and the stockholder vote were documented in SEC filings, including the merger agreement and proxy materials, which describe the board's process and the financing arrangements for the purchase.