CarGurus is expanding.
The automotive marketplace said Thursday it has purchased car-shopping platform Autolist.
Autolist, founded in 2014 and based in San Francisco, will continue to be run independently as a standalone brand and website. Founder Corey Lydstone will continue to lead Autolist and report to CarGurus chief financial officer Jason Trevisian.
The companies did not disclose the terms of the purchase.
CarGurus said this purchase of Autolist broadens its consumer audience and helps it “further enhance its unique value proposition for subscribing dealers.”
Autolist has more than 1.3 million unique website visitors each month, CarGurus said, citing Google Analytics data from December. Its app has close to 400,000 unique visitors each month, according to CarGurus, which cited Firebase data from last month.
“We are thrilled to welcome the Autolist team to the CarGurus platform. Like CarGurus, Autolist is a technology company with a pioneering mindset, which makes them a great fit with our innovative culture,” Trevisian said in a news release.
“We are excited about joining forces to provide best-in-class products and services that make car buying easier for shoppers and drive more sales for dealers,” Trevisian said.
CarGurus said the Autolist purchase will help it “drive consumer traffic and shopper connections for dealers across both sites, creating additional value for the company’s premium subscription dealerships.”
The company is also aiming to test new products and partnership initiatives through Autolist.
“We could not be more excited to join CarGurus, a company that shares our passion for solving big problems and building great products," Lydstone said in the release.
"The Autolist journey so far has been incredible, and with CarGurus’ massive scale and category leadership we believe we’ll be able to accelerate Autolist’s growth while continuing to deliver on our promise of building a better automotive buying experience for everyone,” he said. “I’m so proud of our team, and I am looking forward to our future together at CarGurus.”