This merger is another step toward ensuring our longevity and success in serving the automotive community. In sharing technology and resources, we are able to maintain the cultures of both communities while enhancing the functionality and reach of the independent entities.
Los Angeles, Calif. (Vocus) April 8, 2009
Two of the most successful online communities for everything automotive have joined forces to create the largest and most versatile automotive community on the web. CarDomain Network, the leader online automotive community, today announced that is has acquired StreetFire.net, the leader in automotive video file sharing. Financial terms of the deal were not disclosed.
"We have been long-time fans of StreetFire," said Alex Algard, founder and chairman of CarDomain. "StreetFire has developed a great online video platform and built a tremendous asset of automotive video content. We are excited about bringing a strong video offering to CarDomain."
The combined company will continue to invest in product improvements to both CarDomain.com and StreetFire.net, and it will reach an audience of over five million unique users per month visiting its web properties, and over nine million unique users including video player widget distribution.
Glenn Rogers, previously CEO of StreetFire, will run the combined company as CEO. "This merger is another step toward ensuring our longevity and success in serving the automotive community. In sharing technology and resources, we are able to maintain the cultures of both communities while enhancing the functionality and reach of the independent entities."
Each site brings complementary information-sharing technology to the table. CarDomain two million registered users have posted 650,000 active ride profiles with a combined four million aftermarket modifications, all accessible by component type. StreetFire.net brings video sharing technology that enables users to upload videos, view any user-created video online, and embed these videos onto their own sites. This technology has allowed StreetFire.net to reach 250 million video streams annually. Sharing this technology and content allows each site to enhance its current offerings, such as bringing new video capabilities to CarDomain member profiles. Versatility and functionality improvements will also be made, such as offering customizable advertising packages that directly target select consumer groups.
CarDomain Network was founded in 1998 and based in Seattle, Washington. CarDomain operates the web's largest community for auto enthusiasts with two million registered users and 650,000 custom rides profiles. CarDomain has built the largest database tracking the behavior and purchasing patterns of automotive enthusiasts. For more information about CarDomain, visit http://www.cardomain.com.
StreetFire.net is the first and largest UGC (User Generated Content) video sharing service that specifically caters to car, truck and motorcycle enthusiasts. The StreetFire.net Motorsport library consists of almost 200,000 UGC motorsport videos, growing at a rapid rate. StreetFire, Inc. is based in Los Angeles, CA. For more information about StreetFire.net, visit http://www.streetfire.net.
For additional media information, please contact:
Schiefer Public Relations
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