Automotive

What’s Patrick Grove up to? Catcha offloading iCar Asia, iProperty

Patrick Grove’s Kuala Lumpur-based Rev Asia (formerly Catcha Media) yesterday received shareholder approval to sell its 27.2 percent stake in iCar Asia and, according to Australian press, his Catcha Group is also looking to offload its shares in iProperty. (Read Australia’s Property Observer’s article here.) Rev Asia had announced its intentions to sell its stake in iCar Asia...

Read More

Fox to become NADA CEO, chair

Bill Fox, an auto dealer in upstate New York, and this year’s vice chair at the National Automobile Dealers Association (NADA) is to become its CEO and chair effective 2015. Here’s the announcement: Bill Fox Elected NADA Chairman for 2015 Upstate New York auto dealer and current vice chairman to lead national trade association; Jeff Carlson elected next vice chairman SCOTTSDALE,...

Read More

Big Data at AutoTrader.com: A WSJ view

Want to know how and why to use Big Data? Here’s an article about a great use by AutoTrader.com (U.S.), following up on our coverage in the Big Data issue of Classified Intelligence Report. The Wall Street Journal reporter Clint Boulton, writing for the paper’s “CIO Journal,” details the ways AutoTrader.com uses the data management tool Hadoop to gather data and software analytics tool...

Read More

Providence: Buying majority of RentPath?

Providence Equity Partners, fresh off a terrific win in the classified field, may be buying another major classified company, RentPath, Inc., operator of ApartmentGuide.com, Rent.com and other classified sites. Providence tripled its money in just three years when it bought a 25 percent stake in AutoTrader.com from Cox Enterprises. It sold that stake in late 2013. Reuters reported yesterday that...

Read More

TrueCar dealers sell 500k vehicles in year

No-haggle vehicle sales site TrueCar has reported that the past year’s 500,000 car and truck sales bring its auto-sales total to 1.5 million. Here’s the announcement: TrueCar Certified Dealer Network Tops 1.5 Million Total Auto Sales, Over 500,000 Since November 2013 SANTA MONICA, Calif., Oct. 14, 2014 /PRNewswire/ — TrueCar, Inc., (NASDAQ: TRUE), the negotiation-free car...

Read More

Huge debt revealed at AutoTrader owner, as sell-off rumors spread

Buying Guardian Media Group’s 50.1-percent stake in AutoTrader for 619 million pound sterling ($995 million U.S.) grew Apax Partners’ debt to almost one billion pounds sterling, according to a report in The Sunday Times. The newspaper’s research at Companies House shows that the deal meant Apax’s net debt jumped from £562 million ($903 million U.S.) to £978 million...

Read More