The Cobalt Group Founder and CEO Named Entrepreneur of the Year
23 June 2000
John Holt Wins the Ernst & Young Award in the e-Service Category
SEATTLE - The Cobalt Group's founder, president and CEO John Holt woke up with a big honor this morning.Last night at the 2000 Ernst & Young Pacific Northwest Entrepreneur of the Year Awards Banquet, Holt was named Entrepreneur of the Year in the e-Service category.
"I am honored to receive this award, especially for doing something I enjoy so much," Holt said. "I am energized by the ways Cobalt is able to meet the challenge of bringing innovative Internet solutions to the automotive industry. I share this honor with the talented women and men of Cobalt; I am a steward of their deep entrepreneurial commitment."
Holt launched Seattle-based The Cobalt Group in 1995 with $50,000 and a handful of credit cards. He was inspired by the thought of pairing the world's largest vertical consumer market -- the automotive industry -- with the medium that was destined to change the global economy -- the Internet.
Since that time, under Holt's leadership, Cobalt has developed relationships with almost 50% of the dealers in America; conducted its IPO; opened a dealer technology center in Austin, Texas; bought two companies (PartsVoice and IntegraLink); and launched MotorPlace.com, a business-to-business portal for the automotive industry. The company has grown from the two original founders to a staff of more than 500. This year, the company moved to new headquarters on First Avenue South, near Seattle's Safeco Field.
Holt also helped Cobalt develop relationships with 16 major auto manufacturers and 50 of the 100 largest dealer groups in the United States. In addition, the company develops and hosts Web sites for approximately 5,600 automobile dealers. In the last year, Cobalt's Web site client base grew by 58%, contributing to a 68% increase in revenues, which reached $23.3 million in 1999.
"Cobalt has come a long way from a humble beginning with six people and a golden retriever working in a one room office in the Pike Place Market," Holt said. "This award celebrates our achievements to date and the opportunities that lie ahead."
About the Cobalt Group
The Cobalt Group(TM) , based in Seattle, is a leading provider of Internet-based products and services for the automotive industry. Cobalt helps dealers, dealer groups and automobile manufacturers harness the power of the Internet to realize new efficiencies, win new prospects and better serve their customers.
Cobalt is one of the leading technology companies serving the automotive industry. The company operates MotorPlace.com(TM) (www.motorplace.com), a business-to-business vertical portal for the automotive industry; DealerNet(R) (www.dealernet.com), one of the best-known automotive destination sites on the Web; and PartsVoice(R) (www.partsvoice.com), a leading OEM auto parts locating and data management service. Cobalt also owns IntegraLink Corporation, the auto industry's premier provider of advanced data extraction and reporting services.
Cobalt offers Web site services that are endorsed by the National Automobile Dealers Association.
For more information, please visit The Cobalt Group at www.cobaltgroup.com.