eCommerce - Friday, January 23, 2009
Auto Buy Site Zag Raises $32.4M
Santa Monica's Zag has raised a biggety big $32.4M round. The auto-buying site competes with the likes of Cars.com but its take is to give buyers cars at a discount through affinity organizations like credit unions and AAA. The round was led by USAA with existing investors Anthem Venture Partners, Arcturus Capital, Capital One, Capricorn Management, GRP Partners, and the Tech Coast Angels. The startup was spun out True Car, an automotive pricing information site.
The startup is led by the ruggedly handsome Scott Painter (seriously he has a full screen pro-job photo of himself on the site with a bio that includes rugby cred).
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