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This Week in VC – Scott Painter, CEO of Zag & TrueCar

Both Sides of the Table

He eventually applied his lessons learned in these experiences when he founded Zag, a company that helps consumers buy cars over the Internet at pre-negotiated prices with nearly 4,000 dealers across the country [disclosure: my firm GRP Partners is an investor in Zag]. Investing much of new cash to build presence in Android platform.

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Zag Gets Investment From USAA

socalTECH

Los Angeles-based Zag , the online car buying software firm headed by former CarsDirect CEO Scott Painter, has scored an investment from financial services firm USAA , USAA disclosed Thursday. USAA did not provide financial details behind the investment. USAA has been offering Zag's services to its members since 2007.

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Zag Round Totals $37.4M

socalTECH

Santa Monica-based Zag has finally revealed the total invested in its latest, strategic round of funding, saying Thursday that it raised $37.4M. The round came from USAA, and included Capricorn Investment Group, LLC, GRP Partners and Anthem Venture Partners. READ MORE>>.

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What Angel Investing & Florida Condos Have in Common

Both Sides of the Table

It’s really hard to zig when the whole world seems to be zagging. They have marked-up paper gains propped up by an over excited venture capital market that has validated their investments. Logic tells me the following: It is hard to make money angel investing. It was an investment management class.

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Zag: 50,000 Cars Sold

socalTECH

Zag's technology provides a level of customization and detail on "fleet" style, pre-negotiated sales of autos, down to the accessory level; the firm has deals with USAA, Capital One, Overstock.com, AAA groups, and others to provide its service. over MSRP on their autos. Painter is the former CEO of CarsDirect.com. READ MORE>>.

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Zag Links With USAA, Mercedes-Benz On Promotion

socalTECH

Santa Monica-based Zag.com , the online automotive buying firm headed by Scott Painter, announced Thursday that the company has reached an agreement with Mercedes-Benz USA to offer an additional $5000 off pricing of new Mercedes-Benz cars to members of USAA, one of the affinity groups using Zag's auto pricing and purchasing services.

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Israeli Tech Firms Eye Southern California

socalTECH

Wagner said his firm--which provides services for telecom service providers--is looking at Southern California as a possible location for an additional office, but has its North American operations in Silicon Valley. Tags: israel israeli conference technology high tech investment.