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CarGurus, a Cambridge, Mass.-based online car research and shopping platform led by TripAdvisor co-founder Langley Steinert, raised $150 million in its IPO.

Why it's a big deal: Because this is a profitable, East Coast tech issuer valued at more than $1 billion — despite being bootstrapped for its first decade of existence. Oh, and then it raised pre-IPO funding from mutual funds that (gasp) led to an actual IPO. It's the old normal.

Deal details: The company priced 9.4 million shares at $16 per share (above $13-$15 range), for an initial market cap of around $1.68 billion. It will trade on the Nasdaq under ticker symbol CARG, while Goldman Sachs was listed as left-lead underwriter. GarGurus reports $8.6 million of net income on $143 million in revenue for the first half of 2017, and lists pre-IPO shareholders like Fidelity and T. Rowe Price.

Bottom line: CarGurus has somehow kept a low profile despite reporting 23 million unique monthly users, but this IPO could make it more of a known commodity in tech and business circles.

Giphy

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Net neutrality on the line under Biden

Federal net neutrality rules are back on the table in the Biden administration, after being nixed by Trump, but now might be complicated by the debate over social media companies' behavior.

Axios Re:Cap digs into why net neutrality matters and what comes next with Nilay Patel, editor-in-chief of The Verge and host of the Decoder podcast.

House grants waiver for retired Gen. Lloyd Austin to lead Pentagon

Defense Secretary nominee Lloyd Austin Photo: Chip Somodevilla/Getty Images

The House voted 326-78 on Thursday to grant retired Gen. Lloyd Austin a waiver to lead the Pentagon, clearing the way for the Senate to confirm President Biden's nominee for defense secretary as early as this week.

Why it matters: Austin's nomination received pushback from some lawmakers, including Democrats, who cited a law that requires officers be out of the military for at least seven years before taking the job — a statute intended to reinforce the tradition of civilian control of the Pentagon.

Amanda Gorman steals the show on Inauguration Day

Data: NewsWhip; Chart: Axios Visuals

Poet Amanda Gorman by far generated the most average interactions on social media on Inauguration Day, according to exclusive data from NewsWhip.