Type of site | Automotive-related news and car reviews |
|---|---|
| Available in | English |
| Country of origin | Australia |
| Area served | Australia |
| Founder(s) |
|
| Industry | Automotive |
| URL | carexpert |
| Current status | Active |
CarExpert is an Australian website that provides automotive-related news and car reviews.[1][2]
History
CarExpert was founded by Anthony Crawford, Alborz Fallah, and Paul Maric as a news publication.[3][4] They previously founded a similar website named CarAdvice, which was acquired by Nine Entertainment for $30 million.[5] It uses a reverse subscription model in which it charges the car manufacturer for the people that read its car reviews.[6][7]
In 2021, Channel Seven acquired a minority stake on the website for $4 million.[3][6] In the same year, CarExpert received the website of the year award.[1] CarExpert also opened its first retail store in 2021.[8]
In 2022, it received $10 million in investment and acquired Price My Car.[3] The website is in process to be publicly listed.[3]
In October 2022, CarExpert announced an investment by gaming billionaire, Laurence Escalante, and also announced an expansion of its operations into Western Australia.[9] Since its foundation, it was mostly active on the East Coast of Australia.[9]
In October 2023, CarExpert announced the results of another $3 million capital raise, valuing the company at $50 million with a $15 million yearly revenue. Investors in this round included gaming billionaire Laurence Escalante and Kerry Stokes' Seven West Media.[10][11]
Awards and recognition
- 2021 and 2022: Website of the year[12][13]
- 2023: Paul Maric: Commonwealth Bank, Entrepreneur of the Year[14][15]
References
- ^ a b "CarExpert.com.au snaps up Website of the Year Award". Cyprus Mail.
- ^ "CarExpert recuts equity raising, Rich Lister tips in". Australian Financial Review. September 13, 2022.
- ^ a b c d "CarExpert raising $10m to buy Price My Car; IPO next". Australian Financial Review. April 22, 2022.
- ^ "Coronavirus border closures 'creating ghost flights'".
- ^ "CarAdvice to be sold to Nine for a reported $30 million". Australian Financial Review. September 2, 2016.
- ^ a b "CarExpert gears up as Seven West Media takes strategic stake". The Australian.
- ^ "Cameras, AI drive car sales". The Australian.
- ^ Cummins, Carolyn (August 12, 2022). "Car dealerships hit top gear as the new tenants in town". The Sydney Morning Herald.
- ^ a b "Escalante-backed car website revs up for WA expansion". The West Australian. October 14, 2022.
- ^ "Online new-car classified site CarExpert's valuation hits $50m on capital raising". The Australian. October 22, 2023.
- ^ "Ten Aussie startups that raised $39 million this week". Smart Company. October 27, 2023.
- ^ "CarExpert wins Brand and Website of the Year at Publish Awards". 7NEWS. September 9, 2022.
- ^ "CarExpert wins Brand and Website of the Year at Publish Awards". PerthNow. September 9, 2022.
- ^ "Winners and Finalists". Commonwealth Bank Small Biz Awards. September 9, 2023.
- ^ "CarExpert wins CommBank Entrepreneur of the Year business award". 7 News. May 25, 2023.
External links
This page was last edited on 28 October 2023, at 22:29