AutoTrader.com and iWon Announce Strategic Partnership
ATLANTA & IRVINGTON, NY--April 12, 2001--Exclusive Used-Car Classifieds Information Now Available to Visitors
of Popular Loyalty-Based Portal
AutoTrader.com, the leading Internet destination and marketplace for buyers and sellers of used vehicles, today announced an alliance with iWon (www.iwon.com), the Internet's leading loyalty-based portal and fifth most trafficked site on the Web (Nielsen//NetRatings, February 2001).
Under the agreement, AutoTrader.com will be the exclusive provider of used-car classified services within iWon's Auto Channel. Now iWon users who are looking for a used car will be able to search more than 1.5 million vehicle listings from AutoTrader.com. Consumers can also access AutoTrader.com's Decision Guide and vehicle reviews and information to help them make the best choice. In addition, private sellers can log onto iWon and post their own vehicle listing to AutoTrader.com through the "Sell Your Car" link.
"AutoTrader.com now extends the largest database of used car listings to iWon consumers, a loyal audience of millions," said Chip Perry, president and CEO, AutoTrader.com. "Through this exclusive alliance with iWon, one of the fastest growing and most popular Internet portals today, we can continue to expand our reach and offer shoppers quality auto classifieds and auto information."
"AutoTrader.com is providing a valuable service for our audience," stated Bill Daugherty, founder and co-CEO of iWon. "The iWon Auto Channel is very popular with our users and as shoppers increasingly rely on the Internet for information before they buy anything, including cars, we will be fulfilling an ever-growing need with a leader in this category."
Today, the online classified business is increasing as consumers become more aware and confident when using the Internet throughout the used-car shopping process. In fact, market research firm IDC predicts that two out of every five used-car purchases in the United States in 2004 will be influenced by the Internet. In addition, Internet related sales of used cars in the U.S. may increase 15-fold to more than $164 billion annually by 2004. J.D. Power & Associates' 2000 Used Autoshopper.com Study reported that AutoTrader.com is the leading Internet destination for used car buyers, used by twenty-one percent of buyers who located their vehicle online.
About AutoTrader.com
AutoTrader.com is the leading Internet destination and marketplace in the United States for buyers and sellers of used cars, light trucks, vans and sport utility vehicles and for consumers seeking information regarding automotive products and services, such as insurance, financing and warranties. AutoTrader.com, through its strategic alliances, aggregates in a single location an extensive network of industry participants and a comprehensive database of 1.5 million vehicle listings and automotive information to create an open marketplace that is local, regional and national in nature.
AutoTrader.com was formed in 1997 and is a majority-owned subsidiary of Manheim Auctions, Inc. which has been in business since 1945 and is the world's largest operator of wholesale auto auctions. Manheim Auctions, a wholly owned subsidiary of Cox Enterprises, Inc., a leading media conglomerate, is AutoTrader.com's principal stockholder and one of AutoTrader.com's strategic partners. Other investors and strategic partners include Trader Publishing Company, ADP, Inc., eBay, Inc. and the venture capital firm, Kleiner Perkins Caufield & Byers.
About iWon
Launched in October 1999, iWon is the 5th most trafficked site on the Internet (Nielsen//NetRatings, February 2001). iWon also ranks as the most loyal portal on the Web, consistently placing first in days visited per month, unique pages viewed per month and minutes spent per person per month (Media Metrix, February 2001). In addition, iWon has led all portals in user satisfaction for three consecutive quarters (NPD Search and Portal Tracking Study, June/November/March 2000-2001). In November 2000, iWon was featured as a Marketer of the Next Generation by BrandWeek and in December 2000, was named one of the best "dot-com ideas for 2000" by the Associated Press. iWon has built an award-winning search, ranking No. 1 in advanced search on the Internet (Search Engine Showdown, July 2000), and provides content from more than 120 leading partners such as Associated Press, CBS, Inktomi, Standard & Poor's Comstock, Reuters, TheStreet.com, Travelocity, and WeatherNews Inc.
As an added incentive, iWon gives away $10,000 a day, $1 million a month and a chance to win up to $25 million on Tax Day. By simply using the site to search the Web, check email, go shopping, read the news, or perform other regular Internet activities, iWon users earn entries into the daily, monthly and annual cash giveaways. iWon Cash Points, like iWon entries, are accumulated for virtually everything users do on the site. Users can apply iWon Cash Points toward deep discounts in the iWon Rewards Store. To date, iWon has selected more than 190,000 winners and has given away more than $35 million in cash prizes.