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Top News Breaks Traffic Records; Sees Double-Digit Growth in Q1

April 10, 2001, an Internet automotive classifieds destination, has recorded its most successful quarter ever, marking the first time the company has achieved more than 5 million unique monthly site visitors.

After achieving critical mass in 2000, has established itself as a "go-to" source for consumers when making a new or used vehicle purchase, sale or seeking information such as price comparisons, safety tips, financing, insurance or warranty information, according to Chip Perry, president and CEO. recorded a 32.6 percent increase in unique monthly visitors from January to March, 2001. The figures, which rose from 4,274,018 the first week of January to 5,670,189 by the end of March, were driven in part by a multi-million dollar marketing initiative that combined online banner advertising with several major offline broadcast buys during NASCAR events and NCAA basketball games.

In addition, also formed a new strategic alliance with America Online (AOL) to

become the exclusive provider of used-car classified listings and search capability across several key AOL brands, including the AOL service.

"Staying core to our roots and using the Internet for what it does best -- bringing millions of car buyers and sellers together to exchange information -- proves that online classifieds click with consumers," Perry said. "By continuing to partner with Internet

behemoths like eBay and AOL, we have created a prosperous, lucrative environment for both buyers and sellers - and the numbers show it."

The number of vehicle searches also increased nearly 25 percent since the beginning of 2001 -- 25 million in March alone, up from 20 million in January. Average monthly page views have increased from 114.5 million to 142.7 million.

What was traditionally the role of newspaper classifieds has moved online, according to Perry, creating an instant consumer need and demand and providing a continually updated list of pre-owned vehicles from dealers and private sellers. "As a result of this unique business model, revenues have increased from $5

million to $28 million during 2000," Perry said.

About is an Internet destination and marketplace for buyers and sellers of used cars, light trucks, vans and sport utility vehicles and for consumers seeking information regarding automotive products and services, such as insurance, financing and warranties., through its strategic alliances, aggregates in a single location a network of industry participants and a

comprehensive database of 1.5 million vehicle listings and automotive information to create an open marketplace that is local, regional and

national in nature. was formed in 1997 and is a majority-owned subsidiary of Manheim Auctions, Inc., which has been in business since 1945 and is the world's largest operator of wholesale auto auctions.

Manheim Auctions, a wholly owned subsidiary of Cox Enterprises, Inc., a leading media

conglomerate, is's principal stockholder and one of's strategic partners. Other investors and strategic partners include Trader Publishing Company; ADP, Inc.; eBay, Inc.; and the venture

capital firm, Kleiner Perkins Caufield & Byers.

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