SANTA MONICA, Calif., June 19, 2014 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the negotiation-free car buying and selling platform, today announced that its founder and CEO Scott Painter has been awarded the 2014 EY Entrepreneur of the Year™ Award in Consumer Services in the Greater Los Angeles area. This award recognizes outstanding entrepreneurs who demonstrate excellence and extraordinary success in areas such as innovation, financial performance, and personal commitment to their businesses and communities. Scott Painter was selected by an independent panel of judges, and the award was presented at a 700 person black-tie
Gala at the Beverly Hilton Hotel in Beverly Hills, California on June 17, 2014.
"The EY Entrepreneur of the Year Award is one of the most meaningful validations for founders but this particular acknowledgment is the reflection of the commitment, resourcefulness and hard-work of the entire TrueCar team," said Scott Painter. "TrueCar has had an extremely challenging journey that has tested the business. I am so proud of the passion demonstrated by everyone involved and the commitment to our mission and to genuinely solving a big problem - for consumers and dealers."
Now in its 28th year, the EY Entrepreneur Of The Year Awards Program has honored the inspirational leadership of such entrepreneurs as Howard Schultz of Starbucks Coffee Company, Pierre Omidyar of eBay, Inc., and Mindy Grossman of HSN. Recent US national winners include Reid Hoffman and Jeff Weiner of LinkedIn; Hamdi Ulukaya, founder of Chobani; and 2013 winner Hamid Moghadam, CEO and Chairman of Prologis.
As a Greater Los Angeles award recipient, Scott is now eligible for consideration for the EY Entrepreneur Of The Year 2014 national program. Award recipients in several national categories, as well as the Entrepreneur Of The Year National Overall Award recipient, will be announced at the annual awards gala in Palm Springs, California, on November 15, 2014. The awards are the culminating event of the EY Strategic Growth Forum®, the nation's most prestigious gathering of high-growth, market-leading companies.
TrueCar, Inc. (NASDAQ: TRUE) is the negotiation-free car buying and selling platform. TrueCar works with more than 8,000 new car franchises and independent dealers operating in all 50 states and the District of Columbia. In 2013, TrueCar users paid, on average, approximately $3,000 less than MSRP. The company estimates that 3.2% of the total new-car market is now purchasing their vehicle using the TrueCar platform and TrueCar Certified Dealers. Since it was founded in 2005, TrueCar users have purchased over 1.3 million cars.
TrueCar enables a negotiation-free car buying experience by giving buyers transparent insight into what others actually paid (price confidence), upfront pricing information (price discovery), and access to a network of trusted TrueCar Certified Dealers who provide guaranteed savings certificates and seamlessly complete the car purchase. The reality is that buying a car is painful and buyers fear they are going to overpay or be surprised with hidden fees. TrueCar's transparent upfront pricing information makes the car buying process simple so there are no surprises and buyers never overpay. TrueCar's mission is to make car buying simple, fair and fun. Its national network of more than 8,000 TrueCar Certified Dealers is
committed to providing negotiation-free savings off MSRP for all car-buyers, including members of some of the country's largest membership and service organizations such as AARP, American Express, AAA, and USAA. Note: Not all program features are available in all states. Go to www.truecar.com for program details.
TrueCar is headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas. For more information about TrueCar, please visit www.TrueCar.com, follow @TrueCar on Twitter, or become a fan of TrueCar on Facebook.
About EY Entrepreneur Of The Year™
EY Entrepreneur Of The Year is the world's most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries.
Founded and produced by EY, the Entrepreneur Of The Year Awards are sponsored in the United States by the Ewing Marion Kauffman Foundation and SAP America.
In Greater Los Angeles, regional sponsors include platinum sponsors: Marsh, Merrill DataSite, Scherzer International, Smart Business and Union Bank, and silver sponsors: Acacia Wealth Advisors, Ballard Spahr, The Big Picture, and Cresa.
About EY's Strategic Growth Markets practice
EY's Strategic Growth Markets (SGM) practices guide leading high-growth companies. Our multidisciplinary teams of elite professionals provide perspective and advice to help our clients accelerate market leadership. SGM delivers assurance, tax, transactions and advisory services to thousands of companies spanning all industries. EY is the undisputed leader in taking companies public, advising key government agencies on the issues impacting high-growth companies and convening the experts who shape the business climate. For more information, please visit us at ey.com/us/strategicgrowthmarkets, or follow news on Twitter @EY_Growth.
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
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SOURCE TrueCar, Inc.