CarAdvice is re-inventing the way people buy cars online.
Launched in 2006 but only commercialised since 2009, CarAdvice has audience of more than 1 million visits each month, and is ranked as Australia’s number five auto site according to Nielsen Market Intelligence.
The CarAdvice site is already the largest independent player in the online automotive space and the site is recording the highest audience and revenue growth rate in the market.
The company will be one of the companies presenting at the Simon Baker/Wholesale Investor events in Melbourne on October 23 and in Sydney on October 24.
The CarAdvice model is about giving car buyers the edge through better information, buying tools, partnerships and a supporting community.
During 2012, CarAdvice launched its e-Commerce product Best Price, which allows car buyers to anonymously brief up to five new car dealers and negotiate with them online.
“We have been the first local movers into the anonymous new car buyer space, which is dominating the US market right now,” says David Holmes, CarAdvice chief executive.
“We have the support of 25 of the top 25 car manufacturers in the Australian market, and the site attracts the highest concentration of new car buyers in the market.
“Car advice is reinventing the way people buy cars.”
CarAdvice derives revenue from display advertising, premium classified listings and, since the launch of Best price – charges new car buyers $49 for the service.
With revenue share still lagging audience share, David Holmes said CarAdvice has significant scope for increased market share.
“We are profitable and cash flow positive now but I think there is a lot of upside yet in our business,” says David Holmes, who said the exit strategy was for an IPO or trade sale.
The Simon Baker-Wholesale Investor events will be held in Melbourne on October 23 and in Sydney on October 24.
For more information go to www.wholesaleinvestor.com.au/event