Company Announcements

Growth leader brings nearly 20 years of experience driving customer sales, service, and partnership strategy for online marketplace businesses

CAMBRIDGE, Mass., Sept. 03, 2024 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles¹, today announced the appointment of Mike O’Hanlon as Chief Revenue Officer (CRO), effective September 3, 2024. With deep experience driving customer growth and retention strategies for online marketplace and software as a service (SaaS) businesses, O’Hanlon will lead CarGurus’ Sales and Service teams to support growth objectives and priorities to nurture deeper relationships with dealer partners.

“Mike joins CarGurus during an exciting time where our marketplace business has accelerated, global dealer adoption has grown, and we are developing unique data-driven features that provide even more value to our dealer partners,” said Sam Zales, CarGurus President and Chief Operating Officer. “We believe Mike’s experience scaling businesses with a customer-first approach will enable us to continue this momentum, driving our mission forward as the leading platform for dealers and consumers through all stages of the automotive journey.”

O’Hanlon joins CarGurus with nearly 20 years of senior leadership experience guiding e-commerce and SaaS businesses through rapid growth. Prior to CarGurus he spent six years at ezCater, an online marketplace connecting workplaces with local restaurants and caterers. In his most recent role as Chief Partnership Officer he led relationship development with restaurant partners, expanding the installed base, scaling a high-performing salesforce, and driving adoption of value-add software solutions. Before this he led supplier relationships, international business expansion, and strategic partnerships at Wayfair, a leading online furniture and homegoods marketplace. During his 12 years with Wayfair he guided the company through significant growth, increasing its supplier base and leading expansion into new categories; launching and managing the company’s European business; and establishing and growing its media solutions business.

Earlier in his career, O’Hanlon was in investment banking for 11 years, and he spent six years as a submarine officer in the U.S. Navy. He earned an M.B.A. from Rensselaer Polytechnic Institute and a Bachelor of Science degree in Nuclear Engineering from the University of Virginia.

“I am energized by the opportunity to join CarGurus during this notable time in the company’s growth as the team builds on its vision of developing a transaction-enabled platform that provides greater transparency and efficiency for both dealers and consumers," added O’Hanlon. “From the company’s values-driven culture to its commitment to its customers, I find CarGurus’ mission truly inspiring and I look forward to helping drive these goals forward.”

About CarGurus, Inc.

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 platform gives consumers the confidence to purchase and/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. ¹

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 the property of their respective owners.

¹ Similarweb: Traffic Insights, Q2 2024, U.S.

Cautionary Language Concerning Forward-Looking Statements

This press release includes forward-looking statements. Other than statements of historical facts, all statements contained in this press release, including statements relating to our business activities, our strategy and plans, the potential of our business performance, and the expected benefits from O’Hanlon’s appointment as Chief Revenue Officer, are forward-looking statements. The words “aim,” “anticipate,” “believe,” “could,” “expect,” “goal,” “intend,” “may,” “might,” “plan,” “potential,” “should,” “will,” “would,” 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. You should not rely upon forward-looking statements as predictions of future events.

These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including risks related to our growth and our 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; impairment of the carrying value of our goodwill, intangible assets, or right-of-use assets; increased inflation and interest rates, global supply chain challenges, and other macroeconomic issues; the material weakness identified in our internal controls over financial reporting; changes in our key personnel; natural disasters, epidemics, or pandemics; and 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 U.S. 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 Contact:
Maggie Meluzio
Director, Public Relations & External Communications
pr@cargurus.com

Investor Contact:
Kirndeep Singh
Vice President, Investor Relations
investors@cargurus.com