The ownership of the Cars.com domain name and its associated website belonged to Classified Ventures, LLC, a joint venture involving multiple companies. In 2014, Gannett Company, Inc., one of the firms participating in this joint venture, acquired the remaining stake for a total of $1.8 billion. This acquisition allowed Gannett Company, Inc. to gain full control over the Cars.com domain and its related assets.
According to Cars.com’s report, the domain name accounted for approximately 34 per cent of the company’s assets as of December 31, 2016. This translates to around $872 million.
In a recent podcast interview, Alex Vetter, co-founder and CEO of Cars.com, highlighted the significance of the domain name in the company’s success. During the conversation, Vetter revealed that Cars.com attracts a substantial number of website visitors, approximately 28.5 million per month, making it one of the most visited websites in its category. Additionally, Vetter mentioned that the Cars.com app is the most downloaded in its category.
When asked about the reasons behind this impressive performance, Vetter attributed it to the power of the Cars.com domain name. He acknowledged that the premium domain name played a pivotal role in driving the high traffic volume and overall platform success.
Cars.com has established a strong brand presence and credibility within the automotive industry, with the domain name serving as a key component of its brand identity. The domain name conveys the platform’s focus and purpose, making it instantly recognisable to users seeking information and resources related to cars.
Over the years, Cars.com has invested in building and optimising its website to enhance user experience and provide valuable automotive content. The domain name acts as the foundation for this online platform, allowing Cars.com to showcase its offerings and connect users with the information, tools, and services they need when it comes to buying, selling, or researching cars.
Cars.com is a pretty easy domain name to type in. We get a majority of our traffic directly and organically, which allows us to really invest in other things, which to us is product innovation as opposed to what a lot of our peers have to do is, is they have to keep spending marketing every dollar every day just to stay relevant.
Alex Vetter, co-founder and CEO of Cars.com
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