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caradvice.com.au

Founded Year

2006

Stage

Corporate Majority | Acquired

Valuation

$0000 

About CarAdvice

CarAdvice provides independent editorial content for new car buyers and influencers, with a key focus on video and audio casting.

CarAdvice Headquarter Location

52 Victoria Street

McMahons Point, New South Wales, 2060,

Australia

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Latest CarAdvice News

CarExpert raising $10m to buy Price My Car; IPO next

Apr 22, 2022

Share Automotive news and reviews website CarExpert, founded by former CarAdvice team, is pitching investors for $10 million in a pre-IPO round to buy Sydney’s Price My Car. Car news and reviews websites CarExpert is the latest in the IPO pipeline. CarExpert has been around 2019 and so far, has played the role of a news publisher. But it wants to branch out into a marketplace model (adding services like dealer recommendations, products and finance). Its target cohort is new car buyers. Fund-raising documents sent to potential investors said it had signed a term sheet to buy Sydney’s Price My Car for $4 million, split evenly between cash and equity. Price My Car had 302,000 registered members and 926 dealers - equating to $1.3 million annualised revenue. CarExpert’s expecting to list in 2024, and told investors it would use the $10 million cash to redesign its homepage and to branch out into a marketplace business, part of which is buying Price My Car. Advertisement The raise was being done at a $40 million valuation. CarExpert was expecting $5.3 million revenue in the 2022 financial year, growing to $57 million in the 2027 financial year. The business was founded by Alborz Fallah, Tony Crawford and Paul Maric, who currently own about 65 per cent of CarExpert’s equity. Last year, Channel Seven came onboard as a minority shareholder, tipping in $4 million at a $25 million valuation. Fallah and Crawford’s previous venture CarAdvice (since renamed to Drive ) was once an IPO candidate but was acquired by Nine Entertainment in 2018 for $65 million, representing 14 times EBITDA. Anthony Macdonald co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter . Email Anthony at a.macdonald@afr.com Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au Save

  • When was CarAdvice founded?

    CarAdvice was founded in 2006.

  • Where is CarAdvice's headquarters?

    CarAdvice's headquarters is located at 52 Victoria Street, McMahons Point.

  • What is CarAdvice's latest funding round?

    CarAdvice's latest funding round is Corporate Majority.

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