CarExpert explained

CarExpert
Type:Automotive-related news and car reviews
Language:English
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Location:-->
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Country Of Origin:Australia
Area Served:Australia
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Industry:Automotive
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Current Status:Active
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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

Notes and References

  1. Web site: CarExpert.com.au snaps up Website of the Year Award . Cyprus Mail.
  2. Web site: CarExpert recuts equity raising, Rich Lister tips in. September 13, 2022. Australian Financial Review.
  3. Web site: CarExpert raising $10m to buy Price My Car; IPO next. April 22, 2022. Australian Financial Review.
  4. Web site: Coronavirus border closures 'creating ghost flights'.
  5. Web site: CarAdvice to be sold to Nine for a reported $30 million. September 2, 2016. Australian Financial Review.
  6. Web site: CarExpert gears up as Seven West Media takes strategic stake. The Australian.
  7. Web site: Cameras, AI drive car sales. The Australian.
  8. Web site: Car dealerships hit top gear as the new tenants in town. Carolyn. Cummins. August 12, 2022. The Sydney Morning Herald.
  9. Web site: Escalante-backed car website revs up for WA expansion. October 14, 2022. The West Australian.
  10. Web site: Online new-car classified site CarExpert’s valuation hits $50m on capital raising. October 22, 2023. The Australian.
  11. Web site: Ten Aussie startups that raised $39 million this week. October 27, 2023. Smart Company.
  12. Web site: CarExpert wins Brand and Website of the Year at Publish Awards. September 9, 2022. 7NEWS.
  13. Web site: CarExpert wins Brand and Website of the Year at Publish Awards. September 9, 2022. PerthNow.
  14. Web site: Winners and Finalists. September 9, 2023. Commonwealth Bank Small Biz Awards.
  15. Web site: CarExpert wins CommBank Entrepreneur of the Year business award. May 25, 2023. 7 News.

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