Online Automotive Technology Industry Leader Wins Rising Star Award; Deloitte and Touche Honors The Cobalt Group at the Fast 50 Awards
22 September 2000
Online Automotive Technology Industry Leader Wins Rising Star Award; Deloitte and Touche Honors The Cobalt Group at the Fast 50 Awards
SEATTLE--Sept. 22, 2000--The Cobalt Group has taken another right turn toward gaining recognition as the leading provider of Internet-based business-to-business services to the automotive industry.Last night, Cobalt was named one of the Top 10 Rising Star Award winners in Washington state by Deloitte & Touche in its Washington State Technology Fast 50 Program.
"The Cobalt Group is honored to receive the Rising Star Award," said John Holt, president and CEO of The Cobalt Group. "It is with great pride that I attribute this success to the 550-plus employees who are working to make The Cobalt Group the leading provider of Web-based technology and business solutions to the automotive industry."
To determine its winners, Deloitte & Touche accounting experts reviewed Cobalt's revenues for the past three years (1997-1999), calculated growth percentages and compared the company's growth to other technology companies in Washington state that met the Fast 50 criteria. In the last three years, Cobalt's revenues have increased from $1.71 million in 1997 to $23.3 million in 1999.
Cobalt has developed relationships with nearly half of the nation's auto dealers, 15 major auto manufacturers and more than 50 of the 100 largest dealer groups in the United States. In the past three years, the company conducted its IPO; opened a dealer technology center in Austin, Texas and a regional account services office in Detroit, Mich.; bought two companies (PartsVoice and IntegraLink); and launched MotorPlace.com, a business-to-business portal for the automotive industry. The company has grown from its two original founders to a staff of more than 550.
"Technology as we know it has become part of our everyday existence. We at Deloitte & Touche salute The Cobalt Group, whose leaders have the vision and whose staff possess the energy and capabilities to not only keep up with the demands of today's fast-paced technology, but be a leader in the marketplace," said Deloitte & Touche partner Larry Hile.
About the Cobalt Group
The Cobalt Group(TM) , headquartered 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.
With approximately 6,000 dealer Web site clients, over 10,000 dealers using its parts locating system, and relationships with 15 automotive manufacturers and more than 50 of the 100 largest dealer groups in the United States, Cobalt is one of the leading technology companies serving the automotive industry.
Cobalt 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. The Cobalt Group also owns IntegraLink Corporation, the auto industry's premier provider of advanced data collection and reporting services. Cobalt offers Web site services that are endorsed by the National Automobile Dealers Association.
The Cobalt Group has offices in Seattle, WA; Portland, OR; Detroit, MI; Columbus, OH; and Austin, TX.
For more information, please visit The Cobalt Group at www.cobaltgroup.com or call 800/909-8244.