CarsDirect.com Named Exclusive New Car Buying Service for Move.com
21 February 2000
CarsDirect.com Named Exclusive New Car Buying Service for Cendant's Move.com
New Relocation, Real Estate and Home-Related Services PortalTo Feature Auto Channel Powered by CarsDirect.com
LOS ANGELES--Feb. 21, 2000--CarsDirect.com, the leading automotive e-tailer, today announced it has been selected as a premier partner and the exclusive new car buying service on move.com, the recently launched relocation, real estate and home-related services Internet portal from Cendant Corporation .
CarsDirect.com will be the exclusive car-buying service in move.com's new automotive category and will also be included in the portal's shopping area. The CarsDirect.com/move.com co-branded area launched on February 4.
Move.com is designed to provide a wide variety of related services to consumers purchasing or renting a new home, from the time they begin searching through the move-in and living process.
In a related opportunity to bring new audiences to CarsDirect.com, links within Cendant-operated Rent Net will direct visitors to move.com's Auto Channel, promoting CarsDirect.com to both home buyers and renters.
The agreement also calls for CarsDirect.com banner ads to be posted on move.com as well as other Cendant real estate-related sites, including ERA.com. century21.com, coldwellbanker.com and Rent Net. Banners will be supplemented with a variety of direct marketing opportunities for CarsDirect.com.
"Buying a house and buying a car rank as the two most significant purchases people make," said Bob Brisco, chief executive officer, CarsDirect.com. "That's why bringing the convenience and economy of CarsDirect.com to the highly motivated audience that move.com serves makes so much sense. This partnership is one more way we're working to make car buying more accessible and affordable for more people."
"For consumers, there's tremendous value in having home-buying and car-buying services side-by-side on a single site, which makes our relationship with CarsDirect.com such a natural," said Sarah Nolan, chief executive officer of move.com. "With so many things to worry about during the home buying or renting process, consumers will appreciate the ability to quickly and enjoyably buy or lease a new car online through move.com's newest partner."
About Move.com
Move.com is Cendant's relocation, real estate and home-related services portal. It integrates and enhances the offline and online efforts of Cendant's residential real estate brands -- Century 21(R), Coldwell Banker(R) and ERA(R) -- Rent Net, Senior Housing Net and its real estate business units (Cendant Mobility, Cendant Mortgage, National Home Connections and Welcome Wagon/GETKO). Move.com draws upon the capabilities and existing infrastructure of Cendant's lines of business and assists customers with virtually everything they need before, during and after their move. Move.com also draws upon the success of Rent Net's online apartment guide business model. Move.com has headquarters in San Francisco.
About Cendant Corporation
Cendant Corp. is a global provider of real estate, travel and direct marketing related consumer and business services. The company's core competencies include building franchise systems, providing outsourcing solutions and direct marketing. As a franchisor, Cendant is among the world's leading franchisors of real estate brokerage offices, hotels, rental car agencies and tax preparation services. The company's real estate-related operations also includes Move.com, Cendant's residential real estate services portal on the Internet.
As a provider of outsourcing solutions, Cendant is a major provider of mortgage services to consumers, the global leader in employee relocation and the world's largest vacation exchange service. In direct marketing, Cendant provides access to insurance, travel, shopping, auto and other services primarily to customers of its affinity partners. Other business units include NCP, the UK's largest private car park operator and Wizcom, an information technology services provider. With headquarters in New York, the company has approximately 30,000 employees and operates in more than 100 countries.
More information about Cendant, its companies, brands and current SEC filings may be obtained by visiting the company's Web site at www.Cendant.com or by calling 877-4INFO-CD (877-446-3623).
About CarsDirect.com
CarsDirect.com (http://www.carsdirect.com) is a new Internet company that lets consumers complete the vehicle purchase transaction. With CarsDirect.com, shoppers can research, price, customize, order and finance a new car or truck over the Web -- selecting from among 2,500 makes and models by every major manufacturer. Unlike referral services, which point people to a dealer to accomplish the transaction, CarsDirect.com takes the customer from inquiry through financing right up to delivery.
Based in Los Angeles, CarsDirect.com is an idealab! company. The company is also funded by idealab! Capital Partners, Primedia Ventures, Foundation Capital, MSD Capital LP, Goldman Sachs, Morgan Stanley Dean Witter, Hambrecht & Quist, E*O Investors LLC, Oracle Corp., Liberty Digital, TMCT Ventures, East Peak Partners LP, Hikari Tsushin and Soros Private Equity Partners LLC.