CarsDirect is an American online automotive research portal and car buying service based in

El Segundo, California El Segundo ( , ; ) is a city in Los Angeles County, California, United States. Located on Santa Monica Bay, it was incorporated on January 18, 1917, and is part of the South Bay Cities Council of Governments. The population was 16,731 as of th ...

that allows consumers to research, price, purchase, insure and finance a vehicle online. The company also provides lead generation and referral services to auto dealers.

History

CarsDirect was founded in 1998 by Scott Painter, launched from the

business incubator Business incubator is an organization that helps startup companies and individual entrepreneurs to develop their businesses by providing a fullscale range of services starting with management training and office space and ending with venture ca ...

Idealab Idealab (formerly known as idealab!) is a startup studio based in Pasadena, California, U.S.A. History Idealab was founded by Bill T. Gross (not to be confused with the founder of PIMCO, Bill H. Gross) in March 1996. Prior to Idealab, Gross founde ...

. It was the first company to sell vehicles online directly to consumers, rather than referring consumers to

brick-and-mortar Brick and mortar (also bricks and mortar or B&M) refers to a physical presence of an organization or business in a building or other structure. The term ''brick-and-mortar business'' is often used to refer to a company that possesses or leases r ...

dealers. CarsDirect first registered for an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

in a May 2000 filing with the

U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

; however, it withdrew its registration in December of that year citing " unfavorable conditions in the public equity market." In 2004, the firm began to expand into other markets, and subsequently changed its name to

Internet Brands MH Sub I, LLC dba Internet Brands is an American new media company based in El Segundo, California, United States, that operates online media, community, and e-commerce sites in vertical markets. The company also develops and licenses internet ...

in 2005. In June 2014, the company announced that it had been acquired by

Kohlberg Kravis Roberts KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strate ...

(KKR) for $1.1 Billion.

Recognitions and awards

PC World ''PC World'' (stylized as PCWorld) is a global computer magazine published monthly by IDG. Since 2013, it has been an online only publication. It offers advice on various aspects of PCs and related items, the Internet, and other personal tech ...

named CarsDirect a top 7 site for "buying or selling anything" in 2008. *

PC Magazine ''PC Magazine'' (shortened as ''PCMag'') is an American computer magazine published by Ziff Davis. A print edition was published from 1982 to January 2009. Publication of online editions started in late 1994 and have continued to the present d ...

selected CarsDirect as a "Top 100 Classic Website" in 2002, 2003, and 2004.

References

{{reflist Internet properties established in 1998 Companies based in Los Angeles County, California Automotive websites