Investors Drop $280 Million into

Leading automotive e-tailer received a boost in the
form of $280 million Monday, resulting in one of the largest private equity
investments in dot-com history.

All of the company’s original corporate and institutional investors —
which include idealab!, idealab!
Capital Partners, Primedia
Foundation Capital, Michael
Dell’s MSD Capital LP, and Goldman Sachs (GS)
participated in this latest investment round.

New participants in the round include investment banking firms Morgan Stanley Dean Witter (MSDW)
, Hambrecht & Quist (HQ),
and E*O Investors
LLC; strategic investments that include Oracle Corp. (ORCL)
, Liberty Digital (LDIG)
, TMCT Ventures and East Peak Partners
; and investments
from international partners Hikari Tsushin, and Soros Private Equity
Partners LLC.

At the same time, the company announced that it has named Robert N. Brisco,
formerly president, Universal Studios Hollywood, as
its new chief executive officer, effective immediately. Scott Painter,
founder and CEO, will become vice-chairman.

“The investors participating in this round of funding are a major
endorsement of’s strategy and will help us to
aggressively pursue the company’s business initiatives as well as deliver
an unparalleled customer experience,” said Bill Gross,
co-founder of and a board member. is the first nationwide online service that provides
consumers a complete car buying experience — from research,
pricing, customization and financing to flatbed delivery of the car to a
home or office.

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