The Data Breach That Wasn’t: What Really Happened Between ELEAD1ONE and Reynolds (The Banks Report)
The industry had a scare last Thursday when it appeared that a large data breach occurred involving several dealer management system (DMS) providers and dealer groups.
What actually happened was much more benign, and involved none of the DMS vendors. Nor did the event involve any sensitive personal data.
The fallout, however, could be far-reaching.
Below are the facts that TBR has been able to put together after seeing the evidence along with several conversations with many of the affected players.
Car startup Beepi sold for parts after potential exits to Fair, and then DGDG, broke down (TechCrunch)
More developments for Beepi, the used car marketplace that had raised $150 million but then went bust: The company has completely shut down and has been sold off in parts to repay creditors. The development comes after a deal to sell itself to Fair.com, a stealth startup from car industry vets, was cancelled; and then a second deal to sell itself to Bay Area-based used car dealer group DGDG fell through, TechCrunch has confirmed with people close to the company.
With no more cash for operations, Beepi instead went through an Assignment for the Benefit of Creditors (ABC process), with advisory firm Sherwood Partners as the Assignee, the firm confirmed to TechCrunch. The Wall Street Journal first reported the assignment of Sherwood Partners to sell off the assets yesterday.
Cars.com Expands Pricing Tools to Improve Consumer Shopping Experience, Leverages New Dealer Panel for Testing (PR Newswire)
As consumers prepare to make one of the largest purchases of their lives, Cars.com is here to make the process simpler and more enjoyable. For nearly two decades the site has consistently enhanced its offerings, staying one step ahead of changing consumer behavior to ensure car shoppers and owners have all the information they need to make more informed decisions on what to buy, where to buy and who to buy from.
The latest innovation in a string of new site and mobile app features are the Price Comparison Graphs located on each Vehicle Detail Page. These tools provide more context around the price of a used or new vehicle and help educate shoppers on how factors such as trim, mileage and certification impact the price of a vehicle in their market.
“One of the top concerns for any vehicle owner or shopper is price: ‘How much will this repair cost? What is a fair price for this car?’ We have always been committed to bringing more transparency to automotive, and our next bet is on improving the industry’s pricing decision tools so consumers can better understand why a car is priced a certain way,” said Joe Keehnast, principal product manager at Cars.com.