TrueCar to go private in $227 million deal

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will be acquired by Fair Holdings, a company led by its founder Scott Painter, in an all-cash transaction valuing the automotive marketplace at approximately $227 million. The deal, priced at $2.55 per share, will take TrueCar private and mark Painter’s return as CEO.

The investor group behind Fair Holdings includes participants from the automotive, finance, and technology sectors. Following the acquisition, TrueCar plans to enhance transparency and value for members of partner organizations such as military groups and credit unions through its national network of certified dealers.

Founded in 2005 and public since 2014, TrueCar has seen its stock decline 76% since its IPO. Several insurers have partnered with the company, including AAA, Allstate, Farmers, GEICO, and Progressive.

Painter has a long history in the automotive and mobility sector, having founded Fair.com and Autonomy, both vehicle subscription platforms. Fair.com launched in 2016 offering a month-to-month car subscription service where users could get pre-qualified through an app, select a vehicle, and drive it away. The company later shifted to 2- and 3-year used car leases before its assets were sold in 2022.

Autonomy, Painter’s more recent venture, also operates in the car subscription space and remains active—though unlike Fair.com, insurance is not included.

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