Get the latest Venture Capital & Angel investors news and info Join Our Mailing List:

Your Name: 

Your Email:  

*By submitting your name & email you agree to receive for FREE our scholarships & offers Newsletters. You agree also with the storage and handling of your data by this website and 3rd party email services.
You may unsubscribe if you wish. And you can delete your email and name at any time by emailing us to the email on the bottom of this page.

Follow us on
 
  • Zag Closes Equity Financing with $13.5 Million

    October 3rd, 2007 No comments

    Zag, an automotive retail innovator, reached its financing goal with $13.5 million in funding, led by Capricorn Investment Group. Since launching in April 2005, Zag has raised over $46 million in equity capital and additional acquisition debt of $21 million for a combined total investment of $67 million.

    Zag is delivering the best new and used car buying experience available today. Zag works exclusively with trusted brands and affinity groups that have a lasting and relevant automotive relationship with their members. Zag private labels its best in class internet research and shopping technology and manages an exclusive nationwide network of dealers that are committed to low, up-front pricing, an expedited delivery and administrative process and exceptional customer service. Zag now concentrates the buying power of over 60M members through its various programs to help participating dealers reduce their marketing expenses and streamline the sales process in exchange for delivering the best possible price. As a result they tap into the loyalty and trust of these committed buyers.

    Zag is the first company to concentrate consumer buying power on a hand-picked set of exceptional dealers who offer upfront pricing, excellent service and a unique experience, said CEO and founder Scott Painter. Were focused on building our business profitability, while changing car buying for the better.

    Capricorn invests in opportunities that combine a strong point-of-view with outstanding people who can execute it, and operates globally and across asset classes, including publicly traded securities, financial strategies, private equity and venture capital, real assets and commodities. Having started as the investment firm of eBay’s first president Jeff Skoll, Capricorn seeks to develop long-term relationships with innovative, success-focused investors, companies and entrepreneurs.

    We get excited about companies that improve online and retail experiences for consumers while making it more efficient for all involved. Zag has a unique solution that we believe will change how cars are bought and sold, said Ion Yadigaroglu, co-founder of Capricorn Investment Group.

    Before receiving funding from Capricorn Investment Group, Zag already secured an impressive stable of investors including: Global Retail Partners (GRP) a retail innovator that funds successful companies such as Costco, Office Depot, Jamba Juice, and Dealertrack; Capital One the nations largest online auto lender; prominent Southern California venture capital firm Anthem Ventures; as well as other technology icons, prominent dealer groups and renowned individual dealers.

    Although weve already generated significant revenue and momentum in the online automotive retailing sector, well continue to serve our high quality members, partners and dealerships to create a one-of-a-kind retail experience, said Painter. As the exclusive automotive buying partner and program operator for Capital One, USAA, and thirteen AAA clubs across the country, Zag represents a combined audience of over 60 million members and works with a network of 1500 dealerships.

    Zag is an independent technology and services business, committed to dramatically improving the way consumers buy cars while simultaneously helping dealers enable sales. Zag is transforming the auto-buying experience with a groundbreaking online platform that extends current online buying capabilities and soon will make it possible for consumers to complete the entire auto-buying transaction online. Zag’s platform goes beyond research-related websites to give consumers upfront pricing and inventory availability for new and used cars, and the ability to configure a new vehicle and arrange financing online. Over the next year, the company will roll out additional capabilities that will enable a complete, end-to-end online transaction for the first time.

    Zag works with affinity-based organizations to bring a private label, customized experience to members or customers while automating much of the time-consuming, inefficient processes at the dealership level. Inaugural users include Capital One Auto Finance, the nation’s largest online auto lender, which is rolling out Zag’s platform for its Capital One Auto Buying program; and Autoland, the nation’s oldest and most successful credit union auto-buying service, which Zag acquired as a wholly owned subsidiary in November 2005.

    For more information, please visit www.zag.com

Leave a reply

Please leave these two fields as-is:

Protected by Invisible Defender. Showed 403 to 252,689 bad guys.

 

Latest Headlines:

Friday August 31, 2012
Zscaler Secures $38 Million Investment Round


Wednesday November 30, 2011
Health Care Solutions companies Infinity Pharmaceutics, NanoVobronix and Selventa raise funds.


Monday November 21, 2011
Panda Power opens $420 Million Fund for Solar and Natural Gas Projects


Thursday November 17, 2011
Better Place raises $200 Million for Electric Cars in the Series C of Funding


Wednesday November 16, 2011
Accel Partners raise $100 Million Big Data Fund to Invest in Hadoop, NoSQL and other Companies


Tuesday November 15, 2011
Skimlinks raises $4.5 Million to help Bloggers Increase their Gains


Monday November 14, 2011
Standing Cloud raises $3 Million to help New Cloud Providers grow Faster


Thursday November 10, 2011
Zillow acquires Diverse Solutions for $7.8 to help Real Estate Agents increase their Visibility


 

By using this website you agree with our cookie policy