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Zag Raises $11.1M More

socalTECH

Santa Monica-based Zag , the online auto buying software firm headed by Scott Painter, has raised $11.1M Source and details on the funding have not yet been announced by the company. Zag said in March that it had sold 100,000 cars, and has been profitable since August of 2009. READ MORE>>.

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Zag Spins Out TrueCar

socalTECH

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

socalTECH

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 Raises Funding

socalTECH

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 Raises $32.4M

socalTECH

Santa Monica-based Zag , which has developed an automobile configuration and buying service for affinity organizations like credit unions and automobile organizations, has raised around $32.4M A spokesperson for Zag told socalTECH that a round had closed, but would not confirm the investors or details of the round. in a funding round.

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

Both Sides of the Table

He calls it his “Tom Sawyer&# company. Scott’s first big foray into industry-changing companies came with CarsDirect, an IdeaLab company where he was the initial founder & CEO. Scott left the company, which eventually IPO’d and became Internet Brands. And it carries no inventory. a fbFund winner.

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Zag Links With USAA, Mercedes-Benz On Promotion

socalTECH

Santa Monica-based Zag.com , the online automotive buying firm headed by Scott Painter, announced Thursday that the company has reached an agreement with Mercedes-Benz USA to offer an additional $5000 off pricing of new Mercedes-Benz cars to members of USAA, one of the affinity groups using Zag's auto pricing and purchasing services.

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