Scott Painter

Painter was born in Seattle on September 30, 1968, and grew up in Placer County, California, near Sacramento.{{ cite web |url=https://www.latimes.com/archives/la-xpm-2001-jan-14-fi-12141-story.html| title= Venturing Where Others Before Him Have Failed| author= DENISE GELLENE| date= January 14, 2001| work= Los Angeles Times| access-date= October 10, 2012 }} He started his first company, Scott's Auto Dealing, at the age of 14.{{ cite web |url= http://www.dailyfinance.com/2009/10/12/how-i-made-my-first-million-with-scott-painter/| title= How I made my first million with Scott Painter| author= Lan N. Nguyen| date= October 12, 2009| publisher= Daily Finance| accessdate= October 10, 2012 }}{{ cite web | title = TrueCar CEO Scott Painter Talks Cars, Life And Saving His Company | author = David Hochman | work = Forbes | date = 2014-02-26 | url = https://www.forbes.com/sites/davidhochman/2014/02/26/truecar-ceo-scott-painter-talks-cars-life-and-saving-his-company/ | accessdate = 2014-03-07 }} After high school, he joined the United States Army and trained to become a Spanish interrogator. He attended West Point, where he studied military strategy and systems engineering. While at West Point, he served as class president before transferring to UC Berkeley, where he studied political economics.{{ cite web |url= http://investing.businessweek.com/research/stocks/private/person.asp?personId=838803&privcapId=24560683&previousCapId=24560683&previousTitle=Zag.com%20Inc.| title= Executive Profile: Scott Painter| author= | date= October 9, 2012| publisher= Bloomberg Businessweek| accessdate= October 10, 2012 }}{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}}

Painter left UC Berkeley before graduating to sell his first auto-related startup company, AUTOAccess, an electronic database listing used cars for sale. Prior to founding TrueCar, he initiated and was involved in other ventures.{{Which|date=March 2023}}{{ cite web |url= http://www.imediaconnection.com/profiles/iMedia_PC_Bio.aspx?ID=3904#bios| title= Scott Painter Chief Executive Officer, Zag| author= | date= | publisher= iMedia Connection| accessdate= October 10, 2012 }}{{ cite web |url= http://www.bothsidesofthetable.com/2010/07/01/this-week-in-vc-scott-painter-ceo-of-zag-truecar/ | title= This Week in VC – Scott Painter, CEO of Zag & TrueCar| author= Mark Suster| date= July 1, 2010| publisher= Both Sides of the Table| accessdate= October 10, 2012 }}{{ cite magazine | title= Dude, You're Gettin' a Car; Build-to-order, Inc. is starting a custom-manufacturing business from scratch, to revamp the automaking industry the same way dell reshaped computer making | author= Dignan, Larry | date=August 1, 2003| magazine= Baseline|volume=21|issue=13|id={{ProQuest|213353708}}}} Painter was also an early advisor to Tesla.{{ cite web |url= http://www.foxnews.com/story/0,2933,529381,00.html | title= How to Buy Stock in Facebook, Twitter Before They Go Public | author= | date= June 29, 2009 | publisher= Fox News| accessdate= October 10, 2012 }}{{ cite news | title= Dream machine, test drive: Tesla's electric and electrifying roadster | author= Nauman, Matt| year= 2009 | work= San Jose Mercury News|page=1C}}

File:Fontan18.JPG

In 2005, Painter founded TrueCar, Inc., which is headquartered in Santa Monica, California.{{cite web| url= http://www.autonews.com/article/20150113/OEM09/150119853/truecar-says-app-will-help-automakers-know-target-customers| title=TrueCar says app will help automakers know, target customers| author=Jaclyn Trop| date=13 January 2015| publisher=Automotive News| accessdate=24 January 2015}} TrueCar is a negotiation-free car buying platform. TrueCar provides car-buyers with a transparent insight into what other buyers have paid, upfront pricing information, and a network of TrueCar certified dealers.{{ cite web | title =TrueCar | url = http://www.truecar.com | accessdate = 2014-03-07 }}

In August 2015, Painter stepped down as CEO.{{Cite web|url=https://www.latimes.com/business/autos/la-fi-hy-truecar-quarterly-results-20150806-story.html|title=TrueCar posts big 2nd-quarter loss; CEO Scott Painter to step down|website=Los Angeles Times |date=7 August 2015}} He was replaced by Chip Perry as of Dec.15, 2015.{{Cite web|url=http://true.com/press-release/truecar-names-chip-perry-chief-executive-officer-2/|title=TrueCar Investor Relations}}

Painter’s current venture is Fair, Inc., an automotive financial technology company. {{Citation needed|date=March 2023}}

In late 2011, TrueCar raised significant debt and equity capital (>$200m) which enabled it to advertise nationally on television.{{cite web |url=https://techcrunch.com/2011/09/07/car-price-comparison-company-truecar-raises-200m-gears-up-for-ipo/ |title=Car Price Comparison Company TrueCar Raises $200M+, Gears Up For IPO |author=Robin Wauters |date=September 7, 2012 |publisher=TechCrunch |accessdate=December 4, 2012}} Consumer usage increased in response to the television campaign that was developed in conjunction with TrueCar investor Guthy-Renker, but dealer and industry criticism was significant and well documented in a series of Automotive News articles.{{cite web |url=https://www.forbes.com/sites/joannmuller/2012/11/20/truecar-com-founder-gets-a-do-over-after-almost-killing-his-company/ |title=TrueCar.com Founder Gets A Do-Over After Almost Killing His Company |author=Joann Muller |date=November 20, 2012 |work=Forbes |accessdate=December 4, 2012}}{{cite web|url=http://www.autonews.com/apps/pbcs.dll/article?AID=/20121015/RETAIL07/310159952/perennial-optimist-scott-painter-says-a-rebuilt-dealer-friendly |title=Scott Painter says a rebuilt TrueCar has survived brush with disaster |date=October 15, 2012 |author=David Barkholz |publisher=Automotive news |accessdate=December 4, 2012}} Painter, who is commonly associated with vehicle pricing transparency, up-front pricing, and the value of big data in auto retail, received pushback from auto dealers and manufacturers over the fear that TrueCar was responsible for significant retail price discounting.{{cite web |url=https://www.forbes.com/sites/jimhenry/2011/12/13/emperors-new-clothes-sticker-price-honda-and-truecar/ |title=Emperor's New Clothes: Sticker Price, Honda And TrueCar |author=Jim Henry |date=December 13, 2011 |work=Forbes |accessdate=December 4, 2012}} The industry resistance led to nearly a dozen states launching investigations into the company's practices and policies.{{cite web |url=https://www.reuters.com/article/trucar-idUSN1E7851SA20110907 |title=TrueCar raises over $200 million in debt, equity |date=September 7, 2011 |publisher=Reuters |accessdate=December 4, 2012}} As a result, Painter and TrueCar underwent a nine-month regulatory compliance overhaul and initiated industry outreach programs. TrueCar went through a business turnaround in 2012 that resulted in the company reporting in its S-1 filing that it had generated positive adjusted EBITDA in 2013 after having lost over $40 million in 2012.{{ cite web | title = TrueCar, Inc. | publisher = United States Securities and Exchange Commission | year = 2014 | url = https://www.sec.gov/Archives/edgar/data/1327318/000104746914004966/a2220192zs-1a.htm | accessdate = 2014-03-07 }} In December 2011, Painter was featured in Forbes regarding TrueCar's business practices and, in November 2012, he spoke directly to the industry about the current status of TrueCar in an Autoline TV interview. Also in November 2012, TrueCar went back on television with new commercials and a completely new version of its web experience for both dealers and consumers.

The Technology Council of Southern California named Painter its 2009 and 2012 Entrepreneur of the Year.{{ cite web | title = Entrepreneur of the Year | publisher = Technology Council | date = 2012 | url = http://www.tcosc.org/site/c.jeJNIROxErH/b.3671385/k.C5AA/History.htm | accessdate = 2014-03-07 }}{{ cite web | title = Award Recipients | publisher = Technology Council | url = http://www.tcosc.org/site/c.jeJNIROxErH/b.3671373/k.9EFA/Industry_Awards.htm | accessdate = 2014-03-07 }} In 2011 and 2014, he was named a finalist for the Ernst and Young Entrepreneur of the Year Award for the Greater Los Angeles Area.{{ cite web | title = EY Entrepreneur of the Year | publisher = EY | url = http://www.ey.com/US/en/About-us/Entrepreneurship/Entrepreneur-Of-The-Year/LA_Article_Overview_Page_Main | accessdate = 2014-03-07 }} Painter won the EY Award for Entrepreneur of the Year in consumer services for 2014.

In 2011, Scott became a member of the Swiss non-profit organization known as the World Economic Forum.{{ cite web |url= http://www.weforum.org/contributors/scott-painter | title= Scott Painter | author= | date= | publisher= World Economic Forum| accessdate= October 10, 2012 }} In 2012, Painter was named a Technology Pioneer by the WEF.

In 2011, Painter launched TrueCar Racing, an all-female racing team, co-sponsored by Penske Media Corporation and Virgin Group.{{ cite web |url= http://www.autoweek.com/article/20120613/indycar/120619935| title= Virgin Group aligns with TrueCar Racing's IndyCar program, women's initiative| author= | date= June 13, 2012| publisher= Autoweek| accessdate= October 10, 2012 }}{{cite web|url=https://www.youtube.com/playlist?list=PL238CE06BFA5C16C3 |title=TrueCar Racing Channel |publisher=TrueCar/YouTube |accessdate=December 7, 2012}} The racing team supported high-potential women aspiring to become premier race series race car drivers. TrueCar and its partners provided full sponsorship support, professional coaching and training, marketing exposure, and top-tier racing team opportunities throughout the U.S. with the goal of winning races and championships.

Painter was one of the youngest members to join of the Board of Governors at Cedars-Sinai Medical Center.{{cite web |url=https://articles.latimes.com/2001/jan/14/business/fi-12141/2 |archive-url=https://web.archive.org/web/20140714204800/http://articles.latimes.com/2001/jan/14/business/fi-12141/2 |url-status=dead |archive-date=July 14, 2014 |title=Venturing Where Others Before Him Have Failed |author=Denise Gellene |date=January 14, 2001 |work=The Los Angeles Times |accessdate=December 4, 2012}}

Scott Painter lives in Los Angeles with his wife; they have four children.{{ cite web |url= https://www.espn.com/espnw/news-commentary/story/_/id/7942971/new-initiative-giving-female-drivers-chance | title= New initiative is giving female drivers a chance| author= Brant James| date=May 21, 2012 | publisher= ESPN W.| access-date= October 10, 2012 }}

{{reflist|3}}

• [http://www.truecar.com/ Official TrueCar Website]

{{DEFAULTSORT:Painter, Scott}}

Category:American investors

Category:1968 births

Category:Living people

Category:Defense Language Institute alumni