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Santa Monica-based TrueCar , the online car pricing site headed by Scott Painter, has scored a new, equity investment and partnership with direct marketing firm Guthy-Renker , the firm announced today. Financial terms of the investment were not disclosed. READ MORE>>.
Santa Monica-based TrueCar , the automotive pricing website headed by Scott Painter, said this morning that it has raised $200M in new debt and equity financing, plus acquired a company. TrueCar said the financng round included USAA, Capricorn Investment Group and GRP Partners, all existing investors in the firm.
Santa Monica-based TrueCar has priced its IPO, saying last night that it will sell 7.8 TrueCar is trading on the NASDAQ Global Select Market as TRUE. truecar true buying service scott painter' million shares of its stock at $9 per share. The pricing was below the company''s earlier, estimated IPO range of $12.00 READ MORE>>.
Los Angeles-based venturecapital firm GRP Partners is looking to raised $250M in its newest fund, GRP IV L.P., GRP's investments include TrueCar, GOGII, Ad.ly, GumGum, among others. according to a regulatory filing from the firm this week. GRP last closed on a fund--GRP III, L.P. GRP last closed on a fund--GRP III, L.P.--in
The Los Angeles Venture Association (LAVA) held its annual awards event last night, honoring former Los Angeles Mayor Richard Riordan, as well as local, venture backed companies in a banquet last night at the Luxe hotel in Los Angeles. Other finalists were Clicker.com , Truecar , and Zumbox.
in an equity funding round. Scott Painter is the CEO of TrueCar/Zag, and was also previously CEO of CarsDirect, and has been incubating a number of companies out of his Santa Monica-based BrightHouse incubator. No details on that funding have been announced by the company. SharesPost had originally been based in Santa Monica.
According to the email from Painter, the funding is the company's first external equity financing. Painter has a long history in Southern California's technology industry, and previously founded such companies as Fair, TrueCar, SharesPost, and others.
Funding is different – In Silicon Valley you have mega venturecapital funds and many of them. Side note: LA seems to have had some success in mega deals led by private equity firms as evidenced by DemandMedia and Chris DeWolf’s latest company backed by more than $20 million in private equity.
It's often tough to figure exactly who the venturecapital funds are who are funding startups in the area. However, for members of socaltech.com, it's a click away with our real time analysis of venture funding flows. Local exits: TrueCar, Gravity, Maker Studios. Upfront Partners - 11 deals. Greycroft Partners - 10 deals.
Locally, those are companies like LegalZoom, GameFly, TrueCar, and ShoeDazzle. It worked so well, in fact, that venture capitalists actually came to visit us, looked at what we had, and wanted to invest because of that technology. We sold it to a private equity group. What kind of customers are using the tool? Jeff Zwelling.
We’ve been dying to tell you all for a while that we had raised a new venturecapital fund and of course given SEC filing requirements the story was somewhat already scooped by the always-in-the-know Dan Primack a few weeks ago. If you want to understand how the VC industry is changing there is a great primer in the link.
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