CarDomain Draws $3 Million In Funding

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Have you ever seen a guy reach into his pocket, draw out a twenty-dollar bill, and celebrate “finding” this money?  Well, CarDomain.com pulled a similar move today, but on a rather grander scale – $3 million came out of founder Alex Algard’s pockets.

CarDomain Draws $3 Million In Funding
CarDomain Draws $3 Million In Funding

CarDomain also achieved the “Major Milestone of 500,000 Custom Ride Pages Built,” which means that around half a million vehicles have been profiled on the site.  And, to be fair, it was this success – not the $3 million in funding – that functioned as the main headline of a press release.

“Today’s announcement represents a major milestone for CarDomain.com, one that demonstrates the enormous opportunity our community represents for forward thinking brands to engage with a notoriously hard-to-reach demographic,” explained Rajan Krishnamurty, President and COO, in the same release.

Such brands have included Scion, Pioneer, and Mennen SpeedStick (youth-oriented cars, audio equipment, and, um, deodorant) thus far.  The Seattle Post-Intelligencer’s John Cook reports that Discount Tire and Nissan would also like to work out deals with CarDomain; considering that Ferrari doesn’t engage in such transactions, this is about as good as it gets.

In terms of what the site will do with its large user base and $3 million, Cook adds, “New features will include additional car club forums, as well as the ability for users to embed video into their car pages.  An automotive wiki – tapping the vast knowledge of the 1.5 million members – will be rolled out in the next four weeks.”

CarDomain may not “find” any additional funding in the meantime, but it is likely to pick up some more fans.

CarDomain Draws $3 Million In Funding
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