Automotive electricity supplier TrueCar submit PO applications for financing 125 million

NetEase Francisco April 4th message, according to foreign media reports, the automobile business website TrueCar today against the U.S. Securities and Exchange Commission filed an initial public offering (IPO) application to the maximum financing $125 million.

TrueCar is located in the United States of California, Santa Monica (Santa Monica) by founder Scott · (Scott Painter); Pentel was founded in 2005, he was early consultant of Tesla motors. Penter said in an interview that the company had rejected the price of more than $1 billion acquisition proposal.

TrueCar provides 7000 dealers from the price information to consumers and help consumers to buy cars, these operators include online car website, and TrueCar revenue from advertising and operators to pay membership fees. The company announced earnings, as of December 31, 2013 last year, its revenue reached $134 million, an increase of 67% over the previous year. However, last year the company’s net loss of $25 million in the previous year, a net loss of $74 million 500 thousand.

TrueCar said in December last year, access to Microsoft Corp co-founder Paul · (Paul Allen) Company Vulcan Capital invested $30 million in. In addition, the company also received other investors, including venture capital firm Upfront Ventures, the billionaire Geoff · Driscoll (Jeff Skoll) Capricorn Investment Group and USAA insurance company.

on the IPO issue price, TrueCar did not disclose. However, the company said the location of the IPO is the Nasdaq Stock Exchange, common stock trading code for TRUE". Truecar submitted to the U.S. Securities and Exchange Commission IPO preliminary prospectus, said the IPO’s lead underwriter for Securities (Goldman Sachs) and JP Morgan securities (J.P. Morgan) LLC.

according to consulting firm EY said that the current economic fundamentals and the strong momentum of the capital market has improved the IPO market in the United States, the number of IPO doubled in the first quarter. (Tianmenshan Mountain)

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