Former Egreetings and Excite Executive to Head-Up Business for DriveOff.com
10 February 2000
Former Egreetings and Excite Executive to Head-Up Business Development for DriveOff.comScott Derringer Charged with Ramping up Strategic Licensing Program DENVER, Feb. 10 -- DriveOff.com, the automotive e-commerce subsidiary of Navidec Inc. , today announced that Scott Derringer joined the organization as executive director of business development. Derringer will be the driving force behind the continued enhancements of DriveOff.com and rolling out the company's Strategic Licensing Program. Derringer joins DriveOff.com after working as director of product development for Egreetings. Prior to Egreetings, he spent two years at Excite where he created the portal's Autos Channel on the way to becoming the head of Excite Communities. "Scott's expertise in the online automotive marketplace combined with his proven track record of building successful partnerships with top-tier organizations will make him a key component in the growth and success of DriveOff.com," said Michael Kranitz, president of DriveOff.com. In addition to driving the functionality, design and technological enhancements of DriveOff.com, Derringer will be in charge of the company's Strategic Licensing Program that will be rolled out in mid-March. By licensing its software to third parties on a private-label or co-branded basis, DriveOff.com's Strategic Licensing Program will bring more buyers through the DriveOff.com system without the costs traditionally associated with attracting online buyers. DriveOff.com will launch its Strategic Licensing Program to serve national lenders, credit unions, large membership organizations and other affinity organizations that wish to offer a comprehensive online auto buying and leasing service. Without any related marketing and advertising costs, the Strategic Licensing Program allows DriveOff.com to earn revenue on every transaction its partners' sites generate. "While our competitors pay millions in ad dollars for eyeballs, our Strategic Licensing Program partners will produce revenue for DriveOff.com at virtually no incremental cost to us," said Kranitz. "Scott's expertise in identifying and attracting partners will help ensure the success of this program." At Egreetings, Derringer spearheaded the company's strategy of integrating e-commerce applications from partners including CDNOW, FTD.com and RedEnvelope into the Egreetings web site. Under Derringer's direction, the Excite Autos Channel became Excite's most valuable e-commerce property. About DriveOff.com Inc. DriveOff.com Inc. is an automotive e-commerce company that provides world-class automotive web sites including DriveOff.com, CarWizard.com and LeaseSource.com. The company's flagship web site, DriveOff.com, is an automotive e-commerce web site that allows consumers to complete their entire vehicle transaction online. DriveOff.com Inc., based in Denver, Colorado, is a subsidiary of e-business solutions and services provider, Navidec Inc . All statements in this press release, other than historical facts, are forward looking statements. These statements are based on certain assumptions and analyses made by Navidec in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Such statements are subject to a number of risks and uncertainties, including general and economic business conditions, demand for automobiles, competition from other automotive online services, market acceptance of its online automotive solutions and other risk factors indicated from time to time in Navidec's filings with the Securities and Exchange Commission. Those filings are available online at http://www.freeedgar.com.