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Edmunds.com Secures $36 Million in Series B Funding

22 August 2000

Edmunds.com Secures $36 Million in Series B Funding

    SANTA MONICA, Calif., Aug. 22 Edmunds.com,
(http://www.edmunds.com), the Web's leading consumer resource for unbiased
automotive information, today announced that the company has secured a total
of $36 million in its Series B round of funding.  The round was led by Cox
Enterprises, Inc. and also includes AutoLogic Holdings plc and previous
investors, General Electric Pension Trust and Rare Ventures, the venture
capital unit of Rare Medium Group, Inc. .  Edmunds plans to use
the funding for marketing and expansion.
    Andrew Drake, Director of New Media Development for Cox Enterprises, and
John Merry, Chief Executive of AutoLogic Holdings plc, will join Edmunds'
Board of Directors as part of the agreement.  Current board members also
include Mary Bishop, President of Leo Burnett USA, Derrick Chen, Director of
Corporate Development for Rare Medium Group, Inc., and Mohanbir Sawhney,
McCormick Tribune Professor of Electronic Commerce and Technology at
Northwestern University's Kellogg Graduate School of Management.
    "The support of such an impressive roster of organizations is a strong
validation of our business model and our vision to use technology to empower
consumers in the automotive marketplace," said Peter Steinlauf, President of
Edmunds.com.  "This latest round of financing represents an enormous
opportunity for the Edmunds brand to continue to innovatively predict and
respond to consumer needs in this segment."
    "Cox's investment is indicative of the confidence we have in Edmunds.com's
leadership, value proposition and direction," said Andrew Drake.  "It
complements the other promising automotive companies in our portfolio, such as
Manheim Auto Auctions and Autotrader.com."
    "Having held a prominent U.S. presence in the automotive industry
since 1966, the Edmunds brand is well positioned for rapid growth," said John
Merry.  "It is exciting to be a part of the company's expansion."
    A leader in the automotive infomediary category, Edmunds.com averages
1.7 million unique visitors per month who stay an industry-leading average of
16 minutes.

    About Edmunds.com
    Headquartered in Santa Monica, CA, Edmunds.com is the Internet's pioneer
and leader in providing free, third party automotive information, tools and
services for consumers.  Edmunds.com empowers, educates, and engages visitors
by providing them with straightforward information on key aspects of buying,
selling, and owning a vehicle.  Users are provided automobile pricing data,
extensive automobile reviews, consumer information, safety updates, incentive
and rebate news, expert analysis of developments in the automotive world, and
the Town Hall, an interactive community of more than 500,000 active members.
Edmunds.com was ranked number one in the Survey of Car-Shopping Web Sites as
reported by The Wall Street Journal, rated number one automotive and second
overall web site in the Dialscore loyalty study above Yahoo!, Amazon and
Mapquest,  was named as one of Yahoo! Internet Life's 50 Most Incredibly
Useful Sites, one of Money's 50 Most Useful Financial Websites, and is
regularly mentioned as a valuable resource in these and other publications.