The car buy and selling platform was added to the indexes after Russell Investments annual reconstitution of its U.S> and global equity indexes on June 27.
"We believe that our inclusion on the Russell indices will enable us to increase our visibility and broaden our reach among key institutional investors, as we aggressively work towards transforming the car-buying experience for consumers and dealers," TrueCar CEO Scott Painter said in a statement.
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"TrueCar, Inc. (TrueCar) is a data-driven online platform operating a technology infrastructure, powered by data and analytics. The Company operates its company-branded platform on its TrueCar.com Website. In addition, it customizes and operates its platform for affinity group marketing partners, such as USAA and Consumer Reports, financial institutions, and other enterprises, such as Boeing and Verizon. Its network of approximately 7,700 TrueCar Certified Dealers consists of new car franchises, representing makes of cars, as well as independent dealers. TrueCar Certified Dealers operate in all 50 states and the District of Columbia. It presents market data to consumers, including information about pricing for specific makes and models of cars in their area. Consumers interface with it through its TrueCar.com and affinity group marketing partner Websites."