Santa Monica-based Zag.com, the online automobile buying service headed by Scott Painter, is reporting today that it had what is calls its "strongest sales so far this year" in June. The firm--which provides its car buying service as a private-label offering through affiliate groups such as the AAA and USAA--said it had 20% sales growth in June, and 15% growth on average for the previous three months. The firm did not say what drove the growth, and did not provide any financial details on its sales or profitability. Zag has previously received venture capital from such firms as Anthem Ventures, GRP Partners, the Tech Coast Angels, Capricorn Management, Capital One, and Arcturus Capital. Painter was previously CEO of CarsDirect, and is now involved with such firms as TrueCar and SharesPost.
Top NewsTuesday, July 7, 2009
Zag: "Strongest Sales So far This Year"