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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]. It’s awesome. Foursquare. -A

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Zag Powers AAA Service

socalTECH

Santa Monica-based Zag.com , the online car buying software firm headed by Scott Painter, announced this morning that it has inked a deal with the AAA, to power a new service called AAA Automaker. Zag is venture backed by Anthem Venture Partners, USAA, GRP Partners, Arcturus Capital, Callaway Cars and the Skoll Fund. READ MORE>>.

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TrueCar Licenses Auto Pricing Data

socalTECH

Santa Monica-based TrueCar , the new car pricing data startup headed by Scott Painter, said Monday that it has inked a deal with automotive publisher High Gear Media , where High Gear will include TrueCar's data on its network of web sites. Tags: truecar publishing auto automotive pricing. READ MORE>>.

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Zag Raises Funding

socalTECH

Santa Monica-based Zag , which has developed an automobile configuration and buying service for affinity organizations like credit unions and automobile organizations, has a funding round of undisclosed size. The firm recently spun out True Car, an automotive pricing information site.

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Zag Raises $32.4M

socalTECH

Santa Monica-based Zag , which has developed an automobile configuration and buying service for affinity organizations like credit unions and automobile organizations, has raised around $32.4M A spokesperson for Zag told socalTECH that a round had closed, but would not confirm the investors or details of the round.

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Zag: 50,000 Cars Sold

socalTECH

The firm, which develops technology that allows consumers to fully configure and price autos from affinity groups like credit unions, AAAs, and other groups, claimed that the firm has saved its buyers over $83.5M Zag has received funding from USAA, Capricorn Investment Group, LLC, GRP Partners and Anthem Venture Partners. 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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