TrueCar Acquires Priceflow Technology and Talent
SANTA MONICA, Calif., (June, 28, 2019) – TrueCar, Inc.’s (NASDAQ: TRUE) announced the acquisition of Priceflow’s machine-learning powered used car pricing assets and the hiring of Matt Mullens and Bryan Galvin who join as Director of Data Science, Product Analytics and Director of Data Science, Machine Learning.
Priceflow’s pricing algorithm analyzes millions of used vehicle prices in the U.S. daily to help dealers make informed pricing decisions based on market context. TrueCar will use the assets to improve upon industry leading pricing algorithms for both dealers and consumers.
For TrueCar the hiring of the co-founders and their thought leadership in the space was another key component of the deal.
“The addition of Matt and Bryan to the product and technology team bolsters TrueCar’s leadership position in the industry as it relates to pricing, machine learning and data science. Priceflow’s technology will be leveraged to further our leadership in vehicle pricing,” said Aaron Smith, SVP, Product at TrueCar.
“This is a win for the entire Priceflow team, and would not have been possible without the hard work of our other co-founders, Bart Blackburn, Sam Holland, and Nick Kinling,” said Matt Mullens, CEO & Co-Founder of Priceflow. “We’re excited to continue the work and expertise that was gained in building Priceflow to create intelligent pricing algorithms at TrueCar.”
TrueCar, Inc. (NASDAQ: TRUE) is a digital automotive marketplace that provides comprehensive pricing transparency about what other people paid for their cars and enables consumers to engage with TrueCar Certified Dealers who are committed to providing a superior purchase experience. TrueCar operates its own branded site and its nationwide network of more than 16,000 Certified Dealers also powers car-buying programs for some of the largest U.S. membership and service organizations, including USAA, AARP, American Express, AAA and Sam's Club. Over half of all new car buyers engage with the TrueCar network during their purchasing process. TrueCar is headquartered in Santa Monica, California, with an office in Austin, Texas.
About Priceflow, Inc
Priceflow is a dealer-focused platform helping to optimize pricing, analyze their market, and increase profits. We are focused on delivering personalized pricing recommendations to help dealers save time and increase profits.