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This Week in VC – Scott Painter, CEO of Zag & TrueCar

Both Sides of the Table

Scott’s first big foray into industry-changing companies came with CarsDirect, an IdeaLab company where he was the initial founder & CEO. It is the most accurate data out there that you can use to carry into a dealership and negotiate on price. Incubated by Clearstone Ventures in 2008. Current round: $4.

Zag 248
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Your Product Needs to be 10x Better than the Competition to Win. Here’s Why:

Both Sides of the Table

He said it was better than the Yellow Pages because he would provide pricing transparency. Google was clear that they WOULD NOT go into this business. They were a juggernaut and Google was a small company. But obviously Google won the war. That gave Google a huge cost advantage. Overture was sold to Yahoo!