News Release Details

CAMBRIDGE, Mass., Oct. 03, 2022 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a multinational, online automotive platform for buying and selling vehicles, today announced its selection of Amazon Web Services, Inc. (AWS) as its global cloud infrastructure provider. Under the multi-year deal, CarGurus will leverage AWS’s proven infrastructure and portfolio of services to support product innovation and development in the online car-shopping process, which will continue to give people the power to reach their destination.

Millions of people visit CarGurus every month to buy or sell their car. By leveraging AWS’s proven global infrastructure, CarGurus is investing in a better and more innovative consumer experience. With the AWS collaboration, website visitors can expect to experience performance improvements, with car searches already performing faster than before. CarGurus’ internal development teams will also have more flexibility in delivering products and features to end customers with quicker and more secure deployment.

Harnessing the power of AWS’s compute, storage, database, analytics, and security capabilities, will help CarGurus enable new product development. Ultimately, consumers should have a faster and improved experience on the CarGurus website, and internal engineering teams will have the agility to experiment and innovate to deliver higher-quality products and services.

“As CarGurus becomes the online destination for buying or selling a car, their decision to use AWS as their global cloud infrastructure partner will enable additional flexibility and continuous innovation,” said Wendy Bauer, General Manager, Automotive at AWS. “We look forward to continuing to work with CarGurus as they harness the power of AWS and create a better online car-shopping experience.”

“Migrating to AWS provides our teams with more agility and flexibility, allowing us to rapidly scale to meet our business growth goals and increasing customer demand,” said Matt Quinn, Chief Technology Officer of CarGurus. “AWS also provides our engineering team with many exciting new technology options that will help unlock our ability to experiment and innovate so CarGurus can give everyone the power to reach their destination.”

About CarGurus

CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus marketplace gives consumers the confidence to purchase or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S. (source: Comscore Media Metrix® Multi-Platform, Automotive – Information/Resources, Total Visits, Q2 2022, U.S.).

CarGurus also operates online marketplaces under the CarGurus brand in Canada and the United Kingdom. In the United States and the United Kingdom, CarGurus also operates the Autolist and PistonHeads online marketplaces, respectively, as independent brands.

To learn more about CarGurus, visit www.cargurus.com, and for more information about CarOffer, visit www.caroffer.com.

CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks and registered trademarks are property of their respective owners.

© 2022 CarGurus, Inc., All Rights Reserved.

Cautionary Language Concerning Forward-Looking Statements
This press release includes forward-looking statements. All statements contained in this press release other than statements of historical facts, including, without limitation, statements regarding our expectations for our AWS collaboration and investment, as well as our business and strategy, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “guide,” “intend,” “likely,” “may,” “will” and similar expressions and their negatives are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation, risks related to: our growth and ability to grow our revenue; our relationships with dealers; competition in the markets in which we operate; market growth; our ability to innovate; our ability to realize benefits from our acquisitions and successfully implement the integration strategies in connection therewith; natural disasters, epidemics or pandemics, like COVID-19 that has negatively impacted our business; global supply chain challenges, the semiconductor chip shortage and other macroeconomic issues; the material weakness identified in our internal controls over financial reporting; changes in our key personnel; our ability to operate in compliance with applicable laws, as well as other risks and uncertainties as may be detailed from time to time in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and other reports we file with the Securities and Exchange Commission. Moreover, we operate in very competitive and rapidly changing environments. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee that future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. We are under no duty to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

MEDIA CONTACTS

Chris Kooistra at Skyya PR
Media Relations
E: chris@skyya.com
P: 773-972-0691

Source: CarGurus, Inc.