Media - Thursday, April 9, 2009
Auto Vid's Streetfire Bought By Rival CarDomain
CarDomain Network has acquired Atlanta-based rival StreetFire.net. No pricing terms of the all-stock deal were disclosed. StreetFire had raised over $7M from firms like Lightspeed Venture Partners.
Streetfire caters to the Fast And Furious crowd with videos of tricked out Supras and the like. Together they say they reach an audience of over 5M unique users per month visiting its web properties, and over 9M unique users including video player widget distribution.
The challenge for this market is that compared to car pricing sites like Edmunds they are not terribly close to the point of sale, so monetization is a bit more challenging. Given that both companies have had to downsize and that auto market is painful, this is the right thing to do.
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Correction: StreetFire.net is based in LA, not Atlanta.
Posted by: Alan Steele at April 9, 2009 08:12 PM
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