America Online and AutoTrader.com Expand Strategic Alliance to Deliver Comprehensive Used Auto Listings to Millions of Online Consumers.Business Editors ATLANTA & DULLES, Va.--(BUSINESS WIRE)--Jan. 22, 2001 New Exclusive Agreement Transforms the Buying and Selling of Used Cars for Users of Several America Online See AOL. Brands AutoTrader.com, the leading Internet destination and marketplace for buyers and sellers of used vehicles, and America Online, Inc., the world's leading interactive services company, today announced an expanded multi-year alliance under which AutoTrader.com will become the exclusive provider of used car classified listings and search capability across several key America Online brands, including the AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. service. This alliance brings together the country's largest online auto classifieds marketplace with the largest consumer audience in cyberspace. Under the new three-year agreement, AutoTrader.com will power the Used Car area of the Autos Channel across AOL, AOL.COM, CompuServe and Netscape.com and provide used car listings for AOL Digital City. Users of these America Online brands who are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a used car will have direct access to a co-branded AutoTrader.com site, offering the Internet's largest inventory of more than 1.5 million used vehicles, AutoTrader.com's proprietary Find a Car and Sell a Car search features, as well as Decision Guides and Reviews & Information. In addition, AutoTrader.com will be promoted in other areas across the America Online brands, bringing AutoTrader.com's wide selection of inventory, services and tools to AOL and CompuServe's more than 30 million members and the tens of millions of additional users of America Online's Web-based brands. These promotions will also allow private sellers and dealers who have inventory to sell to generate potentially quicker sales. America Online's Autos Channel, announced previously, offers users a wealth of reliable, accurate information, services, and tools for car shopping, buying and maintenance throughout the ownership cycle. "During the past two years, our alliance with America Online has been hugely successful and we wanted to expand and broaden our commitment," said Chip Perry, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , AutoTrader.com. "This new agreement signifies the confidence we have in our business model and the power of America Online as a marketing partner. With our strong market leadership position and solid financial backing, we believe this new, far-reaching deal with America Online will be an even greater success." "AutoTrader is the country's leading online used car destination, and I'm happy to expand our great relationship with them," said Barry Schuler Barry Martin Schuler (born September 7, 1953 in Jersey City, New Jersey) is American Internet pioneer, perhaps best known for making the Internet easy to use consumers while working for America Online for seven years, and being the CEO for three years. , Chairman and CEO, America Online, Inc. "Together with AutoTrader, we can streamline the used car buying process and create an easy and convenient way for online consumers to find the right vehicle. At the same time, our new agreement can help make sellers' lives easier by bringing their extensive auto classifieds to our wide audience of users." The online classified business is increasing as consumers become more aware and confident when using the Internet to supplement the used car shopping process. J.D. Power & Associates' 2000 Used Autoshopper.com Study reported that AutoTrader.com is the leading Internet destination for used vehicles buyers and that twenty-one percent of buyers who located their vehicle online used AutoTrader.com to do so. About AutoTrader.com AutoTrader.com is the leading Internet destination and marketplace in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. for buyers and sellers of used cars, light trucks, vans and sport utility vehicles This page lists sports utility vehicles currently in production (as of April 2007), as well as past models. The list includes crossover SUVs, Mini SUVs, Compact SUVs and other similar vehicles. and for consumers seeking information regarding automotive products and services, such as insurance, financing and warranties. AutoTrader.com, through its strategic alliances, aggregates in a single location an extensive network of industry participants and a comprehensive database of 1.5 million vehicle listings and automotive information to create an open marketplace that is local, regional and national in nature. AutoTrader.com was formed in 1997 and is a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of Manheim Auctions Manheim Automotive Services is the largest and highest volume wholesale automobile auction company in the world. As a subsidiary of Cox Enterprises, Inc., Manheim provides services including financing, title work, transportation, recovery, auto body repair, dealership management , Inc. which has been in business since 1945 and is the world's largest operator of wholesale auto auctions. Manheim Auctions, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Cox Enterprises Cox Enterprises is the successor to the publishing company founded in Dayton, Ohio, by James Middleton Cox, who began with the Dayton Daily News. The company is private, 98% controlled by the octogenarian daughter of Cox, Anne Cox Chambers, and the two children of her late , Inc., a leading media conglomerate, is AutoTrader.com's principal stockholder and one of AutoTrader.com's strategic partners. Other investors and strategic partners include Trader Publishing Company, ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. , Inc., eBay, Inc. and the venture capital firm, Kleiner Perkins Caufield & Byers. About America Online, Inc. America Online, Inc. is a wholly owned subsidiary of AOL Time Warner Inc. Based in Dulles, Virginia, America Online is the world's leader in interactive services, Web brands, Internet technologies and e-commerce services. About AOL Time Warner, Inc. AOL Time Warner (NYSE NYSE See: New York Stock Exchange :AOL) is the world's first Internet-powered media and communications company, whose industry-leading businesses include interactive services, cable systems, publishing, music, cable networks and filmed entertainment |
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