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Autobytel Invests In Auto Advertising Marketplace

Thursday, September 19, 2013 5:00:00 AM PDT | VentureDeal
   Irvine, California  --  Autobytel (NASDAQ: ABTL) has announced an investment in a new auction-driven automotive advertising marketplace.

The company has invested $2.5 million in AutoWeb, which acquired various trade marks and domain names from Autobytel for a 16% stake.

AutoWeb is developing a proprietary pay per click business model for automotive dealers and consumers to connect online, and is headed by an experienced team which has previous success in vertical PPC marketplaces.

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