Unedited news and product information from vendors.
AutoTrader.com Announces Closing of VinSolutions Acquisition
Jun 16, 2011 (05:06 PM EDT)
ATLANTA, June 16, 2011 /PRNewswire/ -- AutoTrader.com, the Internet's leading automotive marketplace and consumer information website, announced today the completion of its acquisition of VinSolutions, a leading provider of end-to-end solution platforms for dealers including Customer Relationship Management (CRM), Internet Lead Management (ILM) , inventory management tools, dealer websites, sales management and desking tools, social media and direct targeted marketing campaign tools.
The finalized agreement, first announced on May 18, makes VinSolutions a subsidiary of AutoTrader.com. AutoTrader.com is majority owned by Cox Enterprises, Inc. with additional ownership stakes held by the venture capital firm Kleiner Perkins Caufield & Byers and the private equity firm Providence Equity Partners.
Atlanta-based AutoTrader.com, created in 1997, is the Internet's ultimate automotive marketplace and consumer information website. AutoTrader.com aggregates in a single location millions of new cars, used cars and certified pre-owned cars from thousands of auto dealers and private sellers and is a leading online resource for auto dealers, individuals and manufacturers to advertise and market their vehicles to in-market shoppers. The company also provides a robust suite of software tools for dealers and manufacturers to help them manage and market their vehicle inventory and display advertising on the Internet. AutoTrader.com continues to grow key business metrics, including revenue, profitability and site traffic. Today, AutoTrader.com attracts more than 15 million unique monthly visitors who utilize the site to review descriptions, photos and videos of vehicles for sale; research and compare vehicles; review pricing and specials; and read auto-related content like buying and selling tips and editorial coverage of major auto shows and automotive trends. AutoTrader.com operates two other auto marketing brands, AutoTraderClassics.com and AutoTraderLatino.com. AutoTrader.com also owns used vehicle management software company vAuto, Kelley Blue Book (Kbb.com) and HomeNet Automotive, a leading provider of online inventory management and merchandising solutions for the automotive retail industry. AutoTrader.com is a majority-owned subsidiary of Cox Enterprises. Providence Equity Partners is a 25 percent owner of the company and Kleiner Perkins Caufield & Byers is also an investor. For more information, please visit www.autotrader.com.
About VinSolutions (www.vinsolutions.com)
VinSolutions has the leading "Dealership Marketing System" that helps retailers attract, sell and retain more customers profitably. VinSolutions.com was recognized as the 33rd fastest growing software company on the Inc 500 and the company has received multiple accolades in the industry including the Automotive Website Award for best digital marketing platform and the Driving Sales Innovation Cup. VinSolutions' "all-in-one" sales and service marketing system includes digital marketing, search marketing, online advertising, social media marketing tools, mobile marketing, websites, internet lead management, CRM (Customer Relationship Management), Sales force automation, Sales Management and Desking, Appraisal, Finance, Used Vehicle Marketing and Market Pricing, Inventory Management and Distribution, Hand held inventory marketing tools, window stickers, automated video tours, Loyalty Management and Targeted marketing with email, text, direct mail and telemarketing services. VinSolutions Dealership Marketing System is installed by their strategic consulting team who specializes in retail strategy and process training for large dealer groups and individual dealerships. For more information visit www.VinSolutions.com