Greenlight.com Introduces Next Generation Online Car Buying Service
11 January 2000
Greenlight.com Introduces Next Generation Online Car Buying Service; Kleiner Perkins-Backed Company Builds Strong Partnerships with Automotive Dealers
SAN MATEO, Calif.--Jan. 11, 2000-- Greenlight.com, the first online car buying company that gives consumers the convenience and control of online buying coupled with the support of the nation's leading network of Internet-savvy car dealers, announced today its entry into the online car sales market. Greenlight.com offers the ultimate new car buying experience by integrating the advantages of no-hassle, online buying with real-world resources, expertise and partnership from local dealers.Greenlight.com is backed by a powerful combination of venture capitalists and car dealers, led by Kleiner Perkins Caufield & Byers, Silicon Valley's premier venture capital firm and investor in such Internet successes as Amazon.com, Netscape and Drugstore.com. Greenlight.com is also backed by Asbury Automotive Group, one of the nation's largest networks of new car dealerships, with other major dealer partnerships to be announced shortly.
"After carefully studying the automotive space, we at Kleiner Perkins decided to `incubate' Greenlight.com as a `click and mortar' business based on a strong dealer network," said Kleiner Perkins partner Russ Siegelman. "We believe this model positions Greenlight.com as the leader in the online automotive industry and is the best and most innovative solution for online car sales."
With an estimated 40% of the over 16 million new car sales in the US this past year being facilitated by the Internet, the online car sales market continues to grow significantly each year. Greenlight.com, the biggest new entrant into this fast-growing online auto sales market, goes well beyond the referral model of most online auto sites and lets customers actually purchase their automobile online. Greenlight.com has developed the leading network of prominent, Internet-savvy local car dealers, each of which are committed to working with Greenlight.com to support consumers before, during and after the online purchase of a new car. This "click and mortar" model -- Internet "clicks" plus "brick and mortar" -- delivers the convenience of buying online with the comfort of local partners who can stand behind every transaction.
"We are excited about being able to deliver the online buying experience that mainstream consumers are asking for," said Todd Collins, CEO of Greenlight.com. "Our on-line/off-line model provides a great consumer experience, including everything from financing and warranties to test-drives and trade-ins. Consumers have told us that this is the way they want to buy cars."
"We are committed to working with Greenlight.com because they are the first online car buying company that has understood how to work with dealers to deliver a great customer experience," said Tom Gibson, Chairman of Asbury Automotive. "From a customer and dealer perspective, we believe Greenlight.com represents the best solution for online car sales -- seamlessly integrating the Internet with our expertise in selling cars and providing excellent, ongoing customer support and service."
Online Car Buying Made Easy
Greenlight.com offers consumers the ultimate car buying experience -- a no-hassle, no-pressure way to research, choose and buy exactly the car they want, while having the support of local dealers. Customers take control over their buying experience by leveraging such site features as side-by-side comparisons, up-front pricing, financial calculators, and the ability to pick the features and options they want.
Greenlight.com also makes car buyers feel secure with 24-hour, 7 day-a-week customer service and strong, ongoing support and service from local dealers. Greenlight.com is currently available in Greensboro, NC, as well as Jacksonville and Orlando, FL with national expansion planned for early spring 2000. Greenlight.com has rapid expansion plans and continues to form partnerships with the strongest and most forward-thinking dealers in the country.
About Greenlight.com
Founded in San Mateo, CA in 1999, Greenlight.com is the only company that offers car buyers the control of purchasing online, plus the benefit of ongoing service and support from local dealerships. Greenlight.com simplifies the buying process by helping customers customize their car, lock in a low price in real time, order online and arrange for delivery, with the convenience of never having to leave their home. Greenlight.com is backed by Kleiner Perkins Caufield & Byers and key national auto dealership organizations such as Asbury Automotive. To shop for a car or to get more information about Greenlight.com, visit the company on the Web at http://www.greenlight.com.
For additional information or for referral to industry analysts contact:
Cherie Stewart The Weber Group 415.616.6149 cheriestewart@ca.webergroup.com