CarExpert

Last updated
CarExpert
Type of site
 Automotive-related news and car reviews
Available inEnglish
Country of originAustralia
Area servedAustralia
Founders
  • Anthony Crawford
  • Alborz Fallah
  • Paul Maric
IndustryAutomotive
URL carexpert.com.au
Current statusActive

CarExpert is an Australian website that provides automotive-related news and car reviews. [1] [2]

Contents

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

References

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