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Zag Raises $11.1M More

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Santa Monica-based Zag , the online auto buying software firm headed by Scott Painter, has raised $11.1M Zag is developing auto buying and configuration software used by groups such as the AAA, USAA, Overstock.com, and other groups to provide their members with pre-negotiated fleet and group rates on new automobiles. READ MORE>>.

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Zag: 100,000 Cars Sold, Profitable

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Santa Monica-based Zag , which develops online car buying software, announced Monday that it has hit the 100,000 cars sold mark on its service. Zag, which also says it reached profitability in August 2009, said consumers saved over $350M over MSRP by using its programs. in venture funding. READ MORE>>.

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TrueCar.com, Zag Sponsor Pebble Beach Concours d'Elegance

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Santa Monica-based firms TrueCar.com and Zag announced last night that the two companies are becoming official sponsors of the 2010 Pebble Beach Concours d'Elegance. According to TrueCar and Zag, the three-year agreement includes a deal for Motor Trend Radio to broadcast and record its coverage from the TrueCar.com suite.

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Zag Spins Out TrueCar

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Santa Monica-based Zag, the online car buying software firm headed by former CarsDirect CEO Scott Painter, has spun out a new company called TrueCar, the firm said late Wednesday. All of the venture funders in TrueCar are investors in Zag, and amount of the investment was not disclosed.

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Zag Raises Funding

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Santa Monica-based Zag , which has developed an automobile configuration and buying service for affinity organizations like credit unions and automobile organizations, has a funding round of undisclosed size. The spokesperson for Zag said that the firm is "not quite ready to make that announcement" and would not releas details until later.

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Zag Hires New Products Director

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Santa Monica-based Zag , the online auto buying site headed by Scott Painter, has hired on a Director of New Products, according to recruiting firm NeoHire. NeoHire said that Alexander Rosten has been hired into the position, joining Zag from Mota Motors, where he was Director of Analytics and Business Development.

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Zag Targets Insurers WIth Auto Buying Program

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Santa Monica-based Zag , the auto-buying software firm headed by Scott Painter, said today that it has launched a new auto buying program specifically targeted at auto insurers. Zag said it will offer the program at no cost to insurers or program users. The program will include access to both new and used vehicles.

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