AutoTrader.com and Internet Broadcasting Systems, Inc. to Provide Auto Classifieds to Top U.S. Markets
6 December 2000
AutoTrader.com and Internet Broadcasting Systems, Inc. to Provide Auto Classifieds to Top U.S. Markets
ATLANTA--Dec. 6, 2000--Local Web Channel Audiences in Los Angeles, Miami, Houston & Detroit to Receive Valuable Automotive Information From Leading Used Car Web Site
AutoTrader.com, the leading Internet destination and marketplace in the United States for buyers and sellers of used vehicles, today announced an exclusive partnership with Internet Broadcasting Systems, Inc. (IBS, www.ibsys.com), the leader in convergence of local television and the Internet, to bring AutoTrader.com's content to users of IBS' Web Channels in four major US markets.
Users of Channel2000.com in Los Angeles, Click10.com in Miami, Click2Houston.com in Houston and ClickonDetroit.com in Detroit will receive access to AutoTrader.com's 1.5 million used car classified listings as part of the automotive sections of these Web Channels. The partnership will begin today.
Now, Internet users in these markets can log onto their local IBS Web Channel for real-time news and information, as well as complete access to AutoTrader.com's comprehensive automotive services. Users will have easy access to the largest database of used cars and trucks, with more than 1.5 million listings of used vehicles for sale by automotive dealers and private parties, and will be able to place their own ads on AutoTrader.com. In addition, consumers can access insurance information, financial calculators, comparison loan rates, auto performance reviews and car trade-in values.
"Consumers are increasingly choosing the Internet over newspapers for local classifieds. In addition, the Internet has become a valuable tool for researching automobiles, in order to make informed decisions," said John Kovac, Manager of Advertising, AutoTrader.com. "AutoTrader.com has organized this valuable research information, along with the largest database of used car listings, to help consumers find the used car they're looking for and feel confident with their purchase. By providing this through a part of IBS' strong network of Web Channels, we are strengthening our reach to consumers in top local markets across the country."
According to a recent study by J.D. Power and Associates, a leading international marketing information firm best known for its work in the automotive industry, thirty-four percent of used vehicle buyers use the Internet to conduct research when buying a car. This same study named AutoTrader.com as the leading Internet destination for buyers of used vehicles.
"AutoTrader.com's services are a great complement to our offerings for consumers who access local news and information online," said Andy Goldman, Executive Vice President, Sales and Business Development, IBS. "Joining the online leader in used automobiles, we will be able to offer our audiences in these four markets one of the most highly requested services - online auto classifieds."
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 marketplace attracted 5 million unique monthly visitors who 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.
About Internet Broadcasting Systems, Inc.
IBS is the first and largest network of local Web Channels -- Web sites that combine "must-know" local news and information of major TV stations with a broad range of Web services, backed by extensive promotion from the stations. IBS has launched or will shortly debut local channels across a total of 53 markets, including 31 of the top 50 US cities, in partnership with Hearst-Argyle Television , Post-Newsweek Stations, a division of The Washington Post Company , McGraw-Hill Broadcasting Group, a unit of The McGraw-Hill Companies , Capitol Broadcasting Company and across Canada with the CanWest Global network.
Since launching its first site in 1996, IBS has been recognized for excellence in online journalism by major organizations including the National Press Club, Associated Press, and the Society for Professional Journalists. In addition to IBS' broadcasting partners, other investors in IBS include InfoSpace and St. Paul Venture Capital. IBS is headquartered in Minneapolis and New York City.