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TrueCar Files for IPO as Former Hyundai CEO Krafcik Joins Board

Shopping service looking to raise $125 million.

by on Apr.04, 2014

TrueCar wants cash to grow its operations.

Online automotive shopping site has announced plans to go public – a significant turnaround for a service that some thought might not survive a series of legal challenges that forced the company to make some major changes to its business model over the last two years.

TrueCar revealed it had filed the necessary paperwork – known as a Form S-1 – with the Securities and Exchange Commission  just a day after it announced that former Hyundai Motor America CEO John Krafcik had joined the company’s board of directors.

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Though the firm’s management could not comment about the IPO due to federal guidelines, the planned stock offering is expected to raise as much as $125 million which would be used to further expand the firm’s aggressive growth plans.  TrueCar previously  raised significant funds through private equity offerings, including a $30 million investment by Vulcan Capital, the investment arm of Microsoft co-founder Paul Allen.


New Ford Website Selling Direct to Consumers

Unfortunately, it’s only for U.K. buyers.

by on Jul.01, 2010

Ford's new U.K. website allows motorists to buy new and used cars directly online.

Hate schlepping from showroom to showroom looking for a new car?  You’re not alone, and Ford Motor Co. hopes to win over the legion of motorists who’d prefer to buy directly online with an all-new website.  The only problem is that it’s only available to buyers in the United Kingdom.

The automaker says its research shows that a whopping 40% of potential customers see no need for a test drive.  So, if they don’t want to kick the tires, they can click a mouse, as our friends at report.


As of this month, U.K. customers can work through 50 dealers – about 8% of the company’s total outlets — who are ready to take their orders directly on line and then deliver a new or used car, truck or crossover through one of 12 pick-up points the maker has set up around the country.

All Ford models will be available through the new process and even technophobes can participate, since the automaker has also set up a call center for those who don’t or can’t send e-mail.

“Consumer are now ready to fully use the Internet in the car industry,” said Steve Hood, managing director of, which is handling the direct sales operation.  “We are now witnessing a significant proportion of Internet customers that both know the car they want and are prepared to buy it direct if the Internet retailer is credible.”