FOR IMMEDIATE RELEASE
Edmunds.com, Inc. Launches New Data Services Initiative to Provide Most Accurate Database of New and Used Vehicle Information
SANTA MONICA, CA April 2, 2001 - Edmunds.com, Inc. (http://www.edmunds.com), the Web's leading consumer resource for unbiased automotive information, today announced the launch of Edmunds Data Services, Inc. (EDSI), a new division of Edmunds.com offering the most accurate, complete automotive database in the industry.
"Edmunds.com learned the data business from the receiving end, as we have been customers for this information from a variety of companies for 35 years. Edmunds.com has found no supplier that has done the job to our level of expectation or satisfaction. We concluded that in order to provide our site's visitors with the quality, completeness, accuracy and timeliness of the data they need, we would have to become a data provider," said Mike Darrow, CEO of Edmunds Data Services.
Edmunds.com has invested $7 million to develop both industry-leading data modeling, capture, packaging and distribution capabilities and the most comprehensive automotive vehicle database in the marketplace. Edmunds Data Services has compiled pricing, option information, colors, pictures, and specifications on new and used vehicles dating back to 1990, and has organized this data into standardized groups for easy comparison between products and brands. This is an industry-first, and is expected to considerably simplify use of the data. To develop, manage and continuously update its products and services, EDSI employs approximately 40 full-time staffers, including five Data Architects and Data Modelers and three Database Administrators.
Edmunds Data Services utilizes technology developed and applied successfully by CNET Data Services, the leading source of computer and consumer electronic specifications. Edmunds.com licensed the database technology and modified it for the significantly more complex automotive market. CNET Data Services is a unit of CNET Networks, which is an investor in Edmunds.com.
"We have an advantage over other data providers because we have created sophisticated customer-management tools, which allow us the flexibility to provide our clients with the data required, in the formats requested, with daily updates," according to Mr. Darrow.
Visitors to Edmunds.com benefit from the development of the new database whenever they research vehicle prices and specifications, as well as when they use the site's online tools. For example, the popular True Market ValueSM new and used vehicle pricing tools, as well as newly introduced advanced search engine and detailed side-by-side vehicle comparison capabilities, are all powered by Edmunds Data Services.
Mr. Darrow brings a wealth of automotive experience to his leadership position at Edmunds Data Services, having managed a broad range of business initiatives during his nearly twenty years at Nissan North America, Inc. and Chrysler Corporation.
Headquartered in Santa Monica, CA, Edmunds.com, Inc. (http://www.edmunds.com) is the Internet's pioneer and leader in providing free, third party automotive information, tools and services for consumers. Edmunds.com empowers, educates, and engages visitors by providing them with straightforward information on key aspects of buying, selling, and owning a vehicle. For example, Edmunds has launched its True Market ValueSM products to inform the general public of the actual transaction prices of vehicles and vehicle finance rates, while the Edmunds.com Powershopper offers car shoppers the opportunity to research and pursue online and offline purchase options in the informative, consumer-friendly environment of the Edmunds web site. Visitors are also provided extensive automobile reviews, consumer information, safety updates, incentive and rebate news, expert analysis of developments in the automotive world, and the Town Hall, an interactive community of more than 500,000 registered members. Edmunds.com received Yahoo! Internet Life's Gold Star Site honor for excellence in the category of "Best Car-Buying Tips," was ranked number one in the Survey of Car-Shopping Web Sites as reported by The Wall Street Journal, rated the number one automotive and second overall web site in the Dialscore loyalty study, was named as one of Yahoo! Internet Life's 50 Most Incredibly Useful Sites, one of Money's 50 Most Useful Financial Websites, both a Digital Favorite and one of the Top 10 Editors' Picks in TIME's On Magazine, and among Entrepreneur Magazine's Top 100 Web Sites for Entrepreneurs.