CARY, N.C. -

After a message surfaced on the CarWoo website informing visitors of the company’s shutdown, Auto Remarketing has confirmed with a TrueCar.com spokesperson that nine of 40 CarWoo employees are moving over to the TrueCar team, including CarWoo’s chief executive officer and co-founder.

TrueCar is also considering the option of buying “select CarWoo assets out of the foreclosure process,” the company spokesperson said.  

Tommy McClung, CarWoo CEO and co-founder, will be vice president of product for TrueCar.

“CarWoo was founded with a mission to deliver the best car buying experience possible. In the end, TrueCar has emerged as the dominant force in helping to reshape automotive retail,” the TrueCar spokesperson told Auto Remarketing in an email.

“While CarWoo is shutting its doors, their team’s commitment to that mission remains unwavering.  As such, nine of forty CarWoo employees will be joining TrueCar, including CarWoo’s CEO and co-founder,” the spokesperson continued.

“As a company that consistently seeks to identify, attract and retain best-in-class talent, TrueCar is excited to add the former CarWoo employees to our product and technology teams. Additionally, TrueCar will look to potentially purchase selected CarWoo assets out of the foreclosure process.”

Auto Remarketing will have more details if, and when, they emerge.

As of Thursday afternoon, the following statement was still posted to CarWoo.com:

CarWoo! is no longer accepting new car buyers as of 1/20/2014

CarWoo! was founded with a mission to deliver the best car buying experience possible. While CarWoo! is shutting its doors, our commitment to that mission remains as strong as ever.

To that end, a small group of us will be joining TrueCar, the negotiation-free car buying platform. CarWoo! helped hundreds of thousands of car buyers get a better experience. In the spirit of transparency, we believe TrueCar came up with a better way and has emerged as the dominant force in helping to reshape automotive retail. I see an incredible opportunity in this moment in time to take our successes and, equally important, our entrepreneurial learnings and apply it to what we believe will be the brand that forever changes how people buy cars.

I am personally proud to join the stellar group of innovators at TrueCar. Thank you to everyone that gave their heart and soul to CarWoo!. Our passion for building the best possible buying experience lives on.

Tommy McClung
President and CEO, CarWoo!
@tommymcclung