Carbiz.com Canada's Leading Auto Financial Portal Ranks #4 In Bain Report.Business Editors TORONTO--(BUSINESS WIRE)--June 22, 2000 Carbiz.com races ahead on dot-com list Carbiz.com (CDNX CDNX See Canadian Venture Exchange (CDNX). :CZ.), Canada's leading auto financial portal Financial Portal A website that provides a variety of financial data and information, acting as an information hub for clients who are individual investors requiring timely financial news and data to make their investment decisions. , was named today as one of the nation's top e-business companies. The survey, conducted by Bain & Company, and published in The Globe & Mail, ranked Canada's top 25 online firms. "The opportunity to provide North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. with the only complete e-commerce solution for car financing on the Internet is an opportunity we couldn't miss," said Carl Ritter Carl Ritter (August 7, 1779 – September 28, 1859) was a German geographer. Along with Alexander von Humboldt, he is considered one of the founders of modern geography. From 1825 until his death, he occupied the first chair in geography at the University of Berlin. , founder 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. of Carbiz.com. "Everyone is racing to get online, from the car manufacturers to the banks, so the logical step for us was to grab the ball and run with it better, faster, and before anyone else came along." Carbiz.com provides cost-savings and improvements in research, purchase and financing of auto transactions online. Also, by connecting lending institutions with credit bureaus, online through their proprietary Full Spectrum 2000 software, Carbiz.com has reduced the auto-financing process from approximately two days to two minutes. "We offer financing options to customers of every credit-type, even "sub-prime" consumers who are generally unable to obtain credit from traditional lenders. Our financial associates are as diverse as TD Bank and Trans Canada Credit," said Ritter rit·ter n. pl. ritter A knight. [German, from Middle High German riter, from Middle Dutch ridder, from r . Trans Canada Credit, a Toronto-based lending institution, specializes in helping customers re-establish their credit. The sub-prime market is now the fastest-growing segment for vehicle sales in North America. "Our being listed in the top twenty-five in the Bain Report," said Ritter, "has not only given us an enormous morale-boost within the company, but it's proven to us, and to everyone else, that we're definitely on the right track to achieving our business goals." In support of his words, Ritter has recently been leading the Toronto-based organization on a buying rampage. Having acquired six Canadian and U.S. auto-related companies, the past two months have seen Carbiz.com's dealer-affiliations explode from 800 to over 5,000 across Canada and the U.S. The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release |
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