Vroom Raises $50 Million in Latest Funding Round
Vroom announced the completion of a $50 million Series E funding round with new investors Altimeter Capital and Foxhaven Asset Management. The new financing brings Vroom’s total funding to $218 million since its founding in 2013.
instaVIN Names New Director of Business Development
instaVIN has named Edie Hirtenstein director of business development. The 14-year automotive industry veteran will be responsible for managing customer relationships, and identifying and implementing products and services that further expand the business, according to the company.
4 Automotive Marketing Firms Merge
TimeHighway.com, Peak Performance, Dealer Product Services and OneCommand have merged. Together, the companies will be called Affinitiv, the firms announced this week.
TEGNA to Spin Off Cars.com
Almost a year after purchasing full ownership of Cars.com, the company formerly known as Gannett announced on Wednesday plans to spin-off the digital automotive marketplace into an independent publicly trade company.
Amazon Enters the Vehicle-Shopping Business
The ecommerce site stopped short of saying it's looking to compete against lead sites like Cars.com, TrueCar, and Edmunds.com, describing its new web page as a car research destination and automotive community designed to help 'customers get the information they need when shopping for vehicles, images, videos, customer reviews.'
Ex-Cox Exec Joins YP.com
The former president of Cox Automotive's Media Solutions Group has found a new home. According to a press announcement, Jared Rowe is set to become CEO of YP.com on Sept. 1.