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He eventually applied his lessons learned in these experiences when he founded Zag, a company that helps consumers buy cars over the Internet at pre-negotiated prices with nearly 4,000 dealers across the country [disclosure: my firm GRP Partners is an investor in Zag]. Total raised: $10.5mm. See: TechCrunch.
According to Zag, the firm will provide a turnkey, fully integrated auto buying program for the site, which will offer resources to research and compare vehicles, read AAA editorial reviews, and configure and purchase vehicles. Financial details of the win was not disclosed.
Los Angeles-based Zag , the online car buying software firm headed by former CarsDirect CEO Scott Painter, has scored an investment from financial services firm USAA , USAA disclosed Thursday. According to USAA, it is taking an equity position in Zag, which is also providing the firm with its car buying services. READ MORE>>.
Santa Monica-based Zag, which is developing software for auto buying programs, has signed on another AAA group as a customer. According to Zag, AAA Mid-Atlantic has just unveiled a auto buying program which is powered by the firm's software. million members. The deal includes both providing new and used cars for AAA Mid-Atlantic.
Santa Monica-based Zag.com , the online auto buying technology firm headed by Scott Painter, said Wednesday that the firm has sold its 50,000th car through its online auto-buying affinity programs. Zag has received funding from USAA, Capricorn Investment Group, LLC, GRP Partners and Anthem Venture Partners. over MSRP on their autos.
And we’re left with a city with idyllic weather, major commerce, the media center of the world, and a great emerging technology scene. But we have a great city for building technology companies. You can find very talented technology executives. But we do have great technology developers. You don’t.
The firm was originally known as CarsDirect, the automotive buying site of Idealab, and was headed by Scott Painter--who is now head of both Zag Automotive and TrueCar. The move is an interesting one, given the number of Southern California technology companies trying to go the other direction, and to hit the public markets.
We asked the same five questions of a variety of top technology entrepreneurs, investors, and others, to hear what they're thinking about, and are sharing it here over the next two weeks. In your opinion, what events, companies, or people made the biggest impact on the technology world in 2010? Stay tuned.
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Best Exit Internet Technology, Networks In Motion; Best Funding in New Media/Internet: Rubicon Project, The, HauteLook.com, Zag; Best Funding in Software/Services: OpenX Technologies, Inc. Eucalyptus; Best Funding in Clean Technology and Energy: Energy and Power Solutions, Inc. FKA: Openads), Cornerstone OnDemand, Inc.;
enabled secondary marketplace for shares in private companies, and particularly venture-backed, technology firms. Brighthouse is a technology incubator headed by both Brogger and Scott Painter, who also co-founded Zag and CarsDirect. SharesPost, headed by Greg Brogger and incubated by Brighthouse, is looking to create a Web 2.0-enabled
In recent months, a dozen accelerators and incubators have emerged in the Southern California area, looking to help take the new generation of technology startups to funding and beyond. Representative companies: Zag, Pricelock, TrueCar, ListSpinner, Zig, RealFinancial, SharesPost. Both incubates its own. Brighthouse. Funding: Yes.
socalTECH tracks day-to-day venture capital activity in the Southern California region, and uses venture data disclosed by companies announcing funding; self-reported by both technology companies and venture firms; as well as regulatory filings and other sources. billion in funding. Among the top deals for the quarter were an $86.6M
However, how much of a link do Israeli technology companies see with Southern California's technology industry? It will remain to be seen if local entrepreneurs from such firms as Zag, Docstoc, and others will open up more links between high tech firms and entrepreneurs in Israel and Southern California.
We co-founded Zag together, and I was the COO of CarsDirect. Towards early 2007, Scott and I had taken Zag to a level of some measure of stability, and we were thinking about the next thing. If you look at any other financial market in the world, no other market has been less impacted by communications technology, or the Internet.
The new fund is focused entirely on technology companies. A large amount of this new fund, somewhere between 20 and 30 percent, is focused on technology in the financial services sector. So we're focused on technology, and financial services. You know Zag, herein town, and more recently our new car investment, TrueCar.
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