CarDomain.com raises $3M for more social networking for car enthusiasts
The nine-year-old Seattle company, CarDomain.com which started with $250,000 in seed capital and never took professional venture capital money, has raised $3 million from co-founder Alex Algard, according to John Cook of the Seattle PI.
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. There are no plans to offer a marketplace for used car sales.
It is the 19th most visited automotive Web site.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
