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Paul Allen Backed TrueCar Files For IPO

TrueCar the provider of online car buying services which is backed by Paul Allen's Vulcan Capital, has filed for an IPO, saying Friday that it is hopes to raise up to $125M on the NASDAQ Global Select Market. The company has applied to list as TRUE. TrueCar--which is based in Santa Monica, California--includes Vulcan Capital Growth Equity as a major investor in the company, with about 9.08 percent of the company before the IPO. TrueCar provides online, auto buying technology used for affiliate auto buying programs, and to help connect new car buyers with dealers by offering up upfront pricing at a very detailed level.


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