Zag Raises $11.1M More

socalTECH

Santa Monica-based Zag , the online auto buying software firm headed by Scott Painter, has raised $11.1M Zag said in March that it had sold 100,000 cars, and has been profitable since August of 2009.

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Zag: 100,000 Cars Sold, Profitable

socalTECH

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.

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Zag Hires New Products Director

socalTECH

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.

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Zag Powers AAA Service

socalTECH

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.

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Zag Round Totals $37.4M

socalTECH

Santa Monica-based Zag has finally revealed the total invested in its latest, strategic round of funding, saying Thursday that it raised $37.4M. USAA is an affinity group which is using Zag's automotive configuration software and services.

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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.

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

Both Sides of the Table

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].

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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. The firm said it has scored Series A funding from Zag, Anthem Venture Partners, Global Retail Partners, Capricorn, Capital One Auto Finance, ARcturus Capital, Scott Painter, and co-founder Tom Taira. All of the venture funders in TrueCar are investors in Zag, and amount of the investment was not disclosed.

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Zag: 50,000 Cars Sold

socalTECH

Zag's technology provides a level of customization and detail on "fleet" style, pre-negotiated sales of autos, down to the accessory level; the firm has deals with USAA, Capital One, Overstock.com, AAA groups, and others to provide its service.

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Zag Targets Insurers WIth Auto Buying Program

socalTECH

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.

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Zag Gets Investment From USAA

socalTECH

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. USAA has been offering Zag's services to its members since 2007.

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Zag Adds Another AAA Group

socalTECH

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.

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Zag Makes Exec Hires, Promotions

socalTECH

Santa Monica-based Zag, a venture-backed developer of online car buying software, said this morning that it has made. Zag said it has promoted Bernie Brenner to Executive Vice President in charge of the firm's consumer initiatives, named David Pributsky as VP of Partner development.

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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. Zag powers online car buying programs for affiliate and group programs, including USAA, AAA, American Express, and Consumer Reports.

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Zag: "Strongest Sales So far This Year"

socalTECH

Zag has previously received venture capital from such firms as Anthem Ventures, GRP Partners, the Tech Coast Angels, Capricorn Management, Capital One, and Arcturus Capital.

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Zag Links With USAA, Mercedes-Benz On Promotion

socalTECH

Zag provides a white-label version of its automotive configuration and pricing engine to USAA and other affinity groups, which provides a detailed, in-depth quoting system for "fleet" sales of automobiles.

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TrueCar Targets Dealers

socalTECH

Santa Monica-based TrueCar , the automotive pricing spinout of Zag, said today that it is targeting dealers with a new web site, to help dealerships price vehicles based on market data. TrueCar also said that it is in a distribution deal with Zag, to serve Zag's dealers with better upfront pricing details. Both TrueCar and Zag are headed by Scott Painter, former CEO of CarsDirect.com.

TrueCar Launches Mobile Site

socalTECH

TrueCar is a spinout of Zag Automotive, which is also run by Painter. Los Angeles-based TrueCar , the online car pricing site run by Scott Painter, said today that it has launched a mobile version of its site. According to the company, the new site runs on Apple iPhone, BlackBerry, and other web-enabled mobile devices. TrueCar said the site is accessible either by going to its main url, or to its mobile site at mobile.truecar.com.

TrueCar Links With Dealers

socalTECH

The new auto buying services come as part of a partnership with Zag, which operates online car buying programs. The partnership brings TrueCar--which is a spinout of Zag and also run by Zag CEO Scott Paitner--full circle. Santa Monica-based TrueCar , which provides real-life pricing data on new cars, based on actual dealer sales, said Tuesday that the firm has begun showing guaranteed upfront pricing from local dealers.

These High School Dropouts Crushed It With Some Simple Growth Hacks

InfoChachkie

ii) Be a contrarian, when everyone is zigging, zag. A version of this article previously appeared in Forbes. Novelist and High School Dropout Louis L'Amour knew the importance of seemingly unimportant people (AP Photo).

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TrueCar Launches Monthly Pricing Report

socalTECH

TrueCar is a spinout of Zag Automotive, and gathers its data from actual sales information from local dealerships. Santa Monica-based TrueCar , the automotive pricing startup headed by Scott Painter, said yesterday that it has rolled out a new, monthly consumer price report. The firm said that the monthly report will help consumers identify which cars have the most negotiating room, best deals, and other information.

Good Gawd: Unconventional Startup Wisdom From The Hardest Working Man In Show Business

InfoChachkie

When everyone is zigging, go zagging. A version of this article previously appeared in Forbes. Despite his non-existent education and numerous personal demons, James Brown was a gifted entrepreneur who reveled in proving Conventional Wisdom wrong.

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TrueCar Links Into Auto Websites

socalTECH

Santa Monica-based TrueCar , the automotive pricing spinout of Zag Automotive, disclosed Wednesday that the firm has inked distribution deals with five automotive websites. TrueCar is using pricing data, derived from information gained from Zag's auto buying service, to show buyers the prices that people have paid to purchase vehicles within a local area.

TrueCar Links With HomeNet

socalTECH

Santa Monica-based TrueCar , the spinout of Zag Automotive which provides data on new car pricing, said today that it has partnered with automotive online marketing firm HomeNet Automotive. According to TrueCar, it will delier new car pricing data and information to HomeNet's Inventory Online Internet Marketing Suite. HomeNet's software is used by dealers, OEMs, finance and lease agents, and other to market their new car inventory.

TrueCar Officially Launches Car Pricing Site

socalTECH

The firm--which is a spinout of automotive configuration software firm Zag--said it will provide consumers with a "Price Report" showing the full distribution of prices paid by other people, for the exact same vehicle, in a consumer's local area. TrueCar is venture backed by Zag, Anthem Venture Partners, Global Retail Partners, Capricorn, Capital One Auto Finance, and Arcturus Capital.

TrueCar Licenses Auto Pricing Data

socalTECH

TrueCar provides new car pricing data derived from actual automobile dealership sales information, and is a spinout of Zag Automotive. Santa Monica-based TrueCar , the new car pricing data startup headed by Scott Painter, said Monday that it has inked a deal with automotive publisher High Gear Media , where High Gear will include TrueCar's data on its network of web sites.

TrueCar Tops 200,000 Cars Sold

socalTECH

TrueCar said the sales came via its more than 40 partner-branded Web Siets, which use the car pricing and sales engine powered by Zag. Santa Monica-based TrueCar , the online car pricing site headed by Scott Painter, reports this morning that it has now sold more than 200,000 cars through its online car buying and pricing platform. TrueCar said the number comes less than a year from when it reached an initial, 100,000 car sales, which occurred earlier this year.

LAVA's 7th Annual Venture Awards Dinner

SoCal Tech Calendar

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. Thursday, January 21, 2010 -- LAVA's 7th Annual Venture Awards Dinner. Master of Ceremonies: Ken Rutkowski, METal International. 2010 LAVA Hall of Fame Inductee: Jake Winebaum; Best Exit Life Sciences: Corevalve, Inc.;

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SoCal Angel Roundup – Tech Coast Angels

Tech Zulu Event

And in recent years, they’ve been involved in some interesting SoCal startups such as Zag, SodaHead, and Vokle. Tech Coast Angels is the largest angel investor group in the US, with nearly 300 members and $100M personally invested in startups over the last decade. Some of their major hits include Sandpiper Networks (acquired by Digital Island for $630M) and Green Dot (NYSE: GDOT).

SharesPost Raising $3.3M

socalTECH

Scott Painter is the CEO of TrueCar/Zag, and was also previously CEO of CarsDirect, and has been incubating a number of companies out of his Santa Monica-based BrightHouse incubator. SharesPost , the online marketplace for private company stock founded by Greg Brogger, has raised $3.3M in a funding round, but appears to also have moved its headquarters to Northern California.

Layoffs Hot Keyword for Second Half of January 2009

SoCal CTO

Last month we Launched Los Angeles Tech and in the announcement we provide the Hot List for the first half of January 2009. This hot list is based on various social signals of what people are writing about, reading, bookmarking, searching, etc. You can go to the Hot List post to see what was hot then. But, in running it now for the second half of January, the keyword that popped to the top was: Layoffs And this is definitely a sign of the times.

TrueCar Settles With Edmunds.com Over Trademark

socalTECH

TrueCar, a spinout of Zag Automotive, is headed by Scott Painter, and uses data gathered from actual dealer car sales to provide the actual sale prices of automobiles in a local area to both buyers and other auto dealers. Santa Monica-based TrueCar is the un-named firm which settled with Edmunds.com yesterday over a trademark lawsuit, according to court documents obtained by socalTECH.com.

TrueCar Hires Away Edmunds Evangelist

socalTECH

Santa Monica-based TrueCar , the automotive pricing spinout of Zag Automotive, annoucned today that it has hired the Chief Evangelist from Edmunds. The firm said that Jesse Toprak will serve as the firm's Vice President of Industry (Tresnds & Insights) at the company, and will analyze and report on automotive related topics, trends and insights. Toprak spent nine years at Edmunds, in addition to earlier experience at automotive franchises.

TrueCar In Deal For Vehicle Data

socalTECH

Santa Monica-based TrueCar , the online car pricing spinout of Zag Automotive, is expanding the depth of its vehicle data today, saying that it is licensing information on new vehicles from Chrome Systems, which is a part of DealerTrack Holdings. Financial details of the license deal were not disclosed.

Getting Started with a Two-Sided Market Business

SoCal CTO

In fact, if you do both, it’s called a Zig-Zag strategy. As I discussed in Matching Algorithm , I end up talking to a lot of startups who want to become the eHarmony of careers, eHarmony of clothes, eHarmony of jobs, eHarmony of tutoring, eHarmony of services, eHarmony of investments, etc.