Cyber Car Deal puts 'The Globe' in High Gear
2 February 1998
Cyber Car Deal puts 'The Globe' in High Gear
Former Alamo-Rent-A-Car Owner Joins Leading Virtual Community
with Auto by Internet
NEW YORK, Feb. 2 -- Racing toward the finishing line to
provide members with a premium full service community, theglobe.com, the on-
line community that is defining lifestyle on the Web, announced an alliance
with Auto by Internet (http://www.autobyintemet.com) the driving force in on-line
automobile buying.
The former owner of Alamo-Rent-A-Car, Michael Egan's investments in both
theglobe.com and Auto by Internet (ABI) brings a winning formula in consumer
marketing to the table by joining together two major on-line entities that
cater exclusively to the needs of the consumer.
"We plan to integrate Auto by Internet with our virtual community efforts
at theglobe.com," said Ed Cespedes, managing director of Egan's Dancing Bear
Investment. "We expect to create a site compelling enough so that auto
enthusiasts and not just auto buyers will find value at the site."
Auto by Internet combines the leading forces in the automotive industry by
supplying consumers with critical information when buying a car on the
Internet. It provides potential buyers with a step-by-step guide to car
buying, focusing on all the details from evaluating the worth of a present car
to locating insurance rates for the new vehicle.
"Theglobe.com and Auto by Internet share the same core philosophy of
empowering users by providing them with the tools and the knowledge to create
or select their own custom designed community or car," said Stephan Paternot,
President of theglobe.com
"Michael Egan's expertise at buying hundreds of thousands of cars for
Alamo's rental fleet, coupled with theglobe.com's million member loyal user
base, provides enormous value for our company but ultimately the consumer is
the real winner," said Matt Diamond, CEO of Auto by Internet.
ABI provides current valuations, loan calculator, car buying tips, leasing
information, car financing, make/model specifications, insurance and roadside
assistance information for automobiles nationwide with plans to expand shortly
in Europe. The company was founded in 1995 by Matt Diamond and Richard
Laurin.
The Globe was founded by Stephan Paternot and Todd Krizelman in 1994 while
students at Cornell University. The Globe creates an environment which
focuses on social dynamics; integrating Personal Web Site Development, Globe
Mail, Discussion Forums, Chat Rooms, Instant Messaging, Multi-Player Gaming
and Travel Club, for a full service virtual community that people call their
home on the Web.
Media Contact: Esther Loewy of theglobe.com, 212-886-0803; or Matt
Diamond of Auto by Internet, 800-227-2347.
SOURCE Globe