CarsDirect
| Company type | Private |
|---|---|
| Industry | Automotive, Internet |
| Founded | 1998 |
| Founder | Scott Painter |
| Fate | Rebranded as Internet Brands in 2005; acquired by Kohlberg Kravis Roberts in 2014 |
| Successor | Internet Brands |
| Headquarters | El Segundo, California , United States |
Area served | United States |
Key people | Scott Painter (founder) |
| Products | Online automotive research, vehicle purchasing, insurance, financing, lead generation, referral solutions for dealers |
| Owner | Kohlberg Kravis Roberts (parent company since 2014) |
| Parent | Internet Brands (since 2005) |
| Website | carsdirect |
CarsDirect operates as an American online platform specializing in automotive research and vehicle purchasing, with its main office located in El Segundo, California. The service allows users to investigate, price, buy, insure, and finance cars through the internet, while also offering lead generation and referral solutions to automobile dealers.
History
Established in 1998 by Scott Painter and initially developed within the business incubator Idealab, CarsDirect pioneered the concept of selling cars directly to buyers online instead of directing them to traditional physical dealerships.
The company submitted paperwork for an initial public offering in May 2000 but decided to retract its filing by December due to "adverse conditions in the public equity market."
By 2004, CarsDirect broadened its operations into new markets and underwent a rebranding process in 2005, adopting the name Internet Brands.
In June 2014, the private equity firm Kohlberg Kravis Roberts (KKR) purchased Internet Brands for $1.1 billion.
Recognitions and awards
- In 2008, PC World ranked CarsDirect among the top seven websites for "buying or selling anything."
- PC Magazine included CarsDirect in its "Top 100 Classic Websites" list consecutively in 2002, 2003, and 2004.