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Cars.com Employee Responds To The Internet Sales 20 Group Invite...

Unfortunately, Chip Withrow responded to the Video Invite to set the record straight for 200+ dealers at the Internet Sales 20 Group in New York May 18-20 

I don't think that AutoTrader.com and Cars.com will respond. Why? You said you were looking for responses from lead providers and the afore mentioned companies are advertisers that direct in-market shoppers to the dealer. Why would A consumer call or email if all the information I need can be found online with the exception of a test drive?

*** All I can say is that dealers are FURIOUS. It is blowing up all over the Internet. Inside private groups dealer principals and GMs are shaking their heads… 

Here are the comments just on the video thread: (Its even more on Social Media…) 

This will be game changing if the players have enough game to show up! Good luck! you need to get AutoDealerLive there to broadcast it live!
I don't think that AutoTrader.com and Cars.com will respond. Why? You said you were looking for responses from lead providers and the afore mentioned companies are advertisers that direct in-market shoppers to the dealer. Why would A consumer call or email if all the information I need can be found online with the exception of a test drive?
Straight up called them out! Lights.Camera.Action.
As a dealer representative, I would like some answers, not smoke and mirrors, but answers. Any company not having anything to hide and truly helps dealers would jump at this chance! The ones that don't are going to be the ones that will see their last check from my dealership. Social media in this day and age is a powerful thing. The invite is out there and was extended by one of the top automotive professionals there is and backed by many more.
Chip's (a Cars.com employee) comments ARE EXACTLY why this panel needs to happen, and I'll hope that those private DMs and emails Sean and I have been receiving from the folks in positions like Chip's will come to fruition and the local reps and regional managers push their VPs and C-level executives to respond. Autotrader alone has 7 VPs or Presidents that should be able to find the time to answer to their customers with 6-7 weeks notice.  Listen, as dealers, vendors, and manufacturers, we have a RIGHT to transparency when those same companies are the ones offering that same transparency. If these companies are going to send us stats on SRPs, VDPs, Price to Market, CALLS, EMAILS, website click-throughs, etc., to justify ROI, you CANNOT simply just say 'oh, well we provide all this other exposure too and we're really just a classifieds company.' It is one, or the other. You can't collect funds by saying you're doing one thing, and then justify that bill by saying you do another.
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KKR Buying CarsDirect.com Owner Internet Brands for $1.1 Billion


The private equity firm Kohlberg Kravis Roberts has agreed to buy Internet Brands, which operates a portfolio of websites and software, in a bet that it can help the company expand its services.

The deal, which Internet Brands is expected to announce later on Tuesday, is worth $1.1 billion, according to two people briefed on the matter who were not authorized to speak publicly. K.K.R. is buying the company from two other private equity firms, Hellman & Friedman and JMI Equity, which bought it for $640 million in 2010.

Members of the Internet Brands management team, including Bob Brisco, the chief executive, are investing in the deal alongside K.K.R. They will hold a minority stake and continue to run the company.

Internet Brands, based in El Segundo, Calif., owns websites like Lawyers.com, CarsDirect.com and ApartmentRatings.com. The company historically has generated a large portion of its revenue from advertising, while also selling leads to law offices and car dealerships

But more recently, under Hellman & Friedman’s ownership, it has expanded in an area called “software as a service” that provides companies with software to accomplish certain tasks. Its Autodata Solutions business, for example, provides services to companies like Toyota, Ford and Chrysler.

K.K.R. is aiming to expand each of these various business lines, while maintaining the focus on certain broad categories: automobiles, health, legal and a fourth category the company calls home and travel. There are no plans to break up the business, the two people briefed on the matter said.

K.K.R. has previously had success with another technology company that managed a portfolio of assets. In 2010, it acquired Visma, a company based in Oslo that provides businesses with software for accounting and payroll tasks. K.K.R. sold part of its stake in Visma this year.

The private equity firm is also an owner of Go Daddy, a domain name registration company.

“Internet Brands is at an exciting inflection point of growth as the company transitions from a portfolio of web assets to a vertically integrated provider of media and client software solutions,” Herald Chen, the co-head of K.K.R.’s technology investing team, said in a statement. “Its growth has been driven by its powerful, proprietary operating platform and a management team with a focused vision.”

Source: http://dealbook.nytimes.com/2014/06/03/k-k-r-to-buy-internet-brands-for-1-1-billion/?_php=true&_type=blogs&_php=true&_type=blogs&_r=1& 

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