ClassicCars.com Acquires Key Competitor
PHOENIX, Jan. 14, 2014 -- ClassicCars.com, the world's largest online marketplace devoted to classic and collector cars, today announced the acquisition of similarly named competitor ClassicCar.com and its associated websites serving Canada, the United Kingdom, Australia, and Ireland. The acquisition is part of ClassicCars.com's aggressive growth strategy to expand its customer base and content offerings while strengthening its leadership position in online classic car sales.
Word of the acquisition comes on the heels of the company's announcement of its new high-profile blog, among other strategic moves. "Our U.S. growth has been tremendous at 129% year over year, and this acquisition puts us in an even better position to grow an already substantial international presence," said Roger Falcione, President and CEO of ClassicCars.com. "2014 is a breakout year for ClassicCars.com, and we see the ClassicCar family of properties as an important strategic asset."
ClassicCars.com attracts more than 1.6 million visitors each month (1.2 million uniques) and encompasses online listings of more than 30,000 classic and collector cars for sale with an aggregate value well in excess of $1 billion. Alexa Internet, Inc., an Amazon subsidiary that measures websites based on traffic and engagement, ranks ClassicCars.com higher than any other classic car website, including Hemmings and AutoTrader Classics.
Management and operations of the acquired websites will be based out of the ClassicCars.com corporate offices in Phoenix, Arizona.
Phoenix-based ClassicCars.com is the world's most comprehensive online resource for buyers and sellers of classic and collector vehicles. ClassicCars.com receives in excess of 1.6 million visitors per month and its online listings feature more than $1 billion worth of classic cars, muscle cars, antique cars and specialty cars for sale by dealerships, auction houses, and private sellers. ClassicCars.com is focused on expanding and supporting the collector car marketplace for casual enthusiasts and serious collectors alike, while delivering significant value to companies who provide products and services to this market.