AutoTrader.com Signs With NBCi as Premier Anchor Tenant And Auto Classified Service Provider
19 September 2000
AutoTrader.com Signs With NBCi as Premier Anchor Tenant And Auto Classified Service Provider
ATLANTA, Sept. 19 AutoTrader.com, the leading Internet
destination and marketplace in the United States for buyers and sellers of
used vehicles and NBC Internet, Inc. , a leading Internet portal
company that brokers information, commercial, and entertainment transactions,
today signed an agreement whereby AutoTrader.com will pay NBCi to become the
automotive classifieds provider and secure a premier anchor tenancy on NBCi's
new flagship consumer portal service which is slated for launch later this
Fall.
NBCi's users will have easy access to AutoTrader.com's 1.5 million
listings of used vehicles for sale by automotive dealers and private parties
and will be able to place their used cars for sale on AutoTrader.com's Web
site free of charge.
In addition, NBCi will showcase AutoTrader.com within its "Used Car
Center," enabling NBCi users to access useful unbiased information such as
auto reviews, used car trade-in values and AutoTrader.com's "Decision Guide,"
to help consumers find which vehicle best fits their needs.
"We are very excited about our relationship with NBCi. They have
demonstrated a keen knowledge of the business and have provided professional
account management that is helping our business prosper," said Chip Perry,
president and CEO, AutoTrader.com. "Through this extended relationship, we
are deepening our offering to help provide a better car shopping and buying
experience for NBCi's users."
"AutoTrader.com is a leading source of used car classifieds and a
tremendous resource for our users. This agreement will enhance the highly
targeted services NBCi is offering users and demonstrates our ability to
connect highly-qualified buyers to sellers," said Edmond Sanctis, NBCi's
President and COO. "AutoTrader.com's service will enhance our new NBCi.com
consumer flagship portal, which will have a cohesive look and feel, unified
name space, consistent navigation and a distinctive personality."
About AutoTrader.com
AutoTrader.com is the leading Internet destination and marketplace in the
United States for buyers and sellers of used cars, light trucks, vans and
sport utility vehicles and for consumers seeking information regarding
automotive products and services, such as insurance, financing and warranties.
AutoTrader.com utilizes the power of the Internet and its ability, through its
exclusive strategic alliances, to aggregate in a single location an extensive
network of industry participants and a comprehensive database of automotive
information to create an open marketplace that is local, regional and national
in nature. AutoTrader.com contains approximately 1.5 million used vehicle
listings, and, in June, AutoTrader.com's monthly visitors conducted 14 million
vehicle searches.
AutoTrader.com, formerly AutoConnect.com, was formed in 1997 as a
majority-owned subsidiary of Manheim Auctions, Inc., which has been in
business since 1945 and is the world's largest operator of wholesale auto
auctions. Manheim Auctions, a wholly owned subsidiary of Cox Enterprises,
Inc., a leading media conglomerate, is AutoTrader.com's principal stockholder
and one of AutoTrader.com's strategic partners. Other investors in
AutoTrader.com include entities with which AutoTrader.com has also formed
strategic relationships, such as Landmark Communications, ADP, Inc., eBay,
Inc. and the venture capital firm, Kleiner Perkins Caufield & Byers.
This release may contain "forward-looking statements" about AutoTrader.com
which are statements that relate to our future plans, objectives, expectations
and performance, and similar projections, as well as the assumptions
underlying these projections. Future events, risks and uncertainties could
cause actual results to differ materially from the results expressed or
implied in these statements. In particular, these risk factors could include
changes in worldwide and U.S. economic conditions that materially impact
consumer spending, changes in demand for our products and services, risks
associated with the integration of acquisitions and other investments, and
other risk factors discussed in our filings with the Securities and Exchange
Commission, including our Registration Statement on Form S-1 (Commission File
About NBC Internet, Inc.
NBC Internet, Inc. (NBCi) is a leading Internet media company that helps
consumers access Internet resources, leveraging user data to broker
information, commercial, and entertainment transactions between consumers and
marketing partners. NBCi's consumer Internet portal services provide Internet
search and directory, information, community, personal file storage,
e-commerce, and entertainment services for both narrowband and broadband
users. NBCi's business-to-small business portal, AllBusiness.com, offers
information, products, and services to help small businesses start and grow.
NBCi was launched in November 1999 through the combination of Snap, Xoom.com,
NBC.com, NBC Interactive Neighborhood, VideoSeeker, and a 10 percent equity
stake in CNBC.com. NBC Internet publicly trades under the ticker NBCI on The
Nasdaq Stock Market(R). NBC, a subsidiary of General Electric Company (GE),
holds a 39.3 percent ownership stake in NBCi. NBCi is headquartered in San
Francisco and has offices in New York City, Los Angeles, and Chicago.
This press release contains statements that are forward-looking. These
statements are based on NBCi's expectations of its future results as of the
date of this press release. Actual results may differ materially from those
projected because of a number of risks and uncertainties, including those
listed from time to time in NBC Internet Inc.'s SEC reports, including but not
limited to XOOM.com, Inc.'s Annual Report on Form 10-K for the year ended
December 31, 1998; XOOM.com's Quarterly Reports on Form 10-Q for the periods
ended March 31, 1999, June 30, 1999 and September 30, 1999; the Registration
Statements on Form S-4 and Form S-1 filed by NBC Internet, Inc., as amended.
Important factors that could cause the results to differ materially from those
in any such forward-looking statements include: NBCi's limited operating
history; unpredictability of its quarter-to-quarter results; its unproven
business model and dependence on members; risks associated with its
international operations; its reliance on a network infrastructure; its
dependence on vendors and suppliers; management of its growth and expansion;
risks associated with brand development; its reliance on advertising revenue;
intense competition with other Web communities and businesses; the risks of
infringement of intellectual property rights; risks associated with
acquisitions; and reliance on strategic relationships.