Zag.com closes $8.5M Series B, Wraps Up C Round - Venturewire

"Los Angeles -- Zag.com's bare-bones Web site doesn't imply a lot of activity at the stealthy auto sales start-up. But in the past eight months alone, Zag has closed on $10.1 million across two rounds of venture financing, acquired a profitable auto-buying service, and nearly wrapped up a Series C round.

The Los Angeles company's quick start has come under the guidance of successful entrepreneur Scott Painter, the co-founder of CarsDirect.com who formed Zag earlier this year and serves as the company's chief executive.

Though he hasn't revealed much about his company's business model, Zag works with auto dealers and lending organizations to create private-label automobile shopping and buying Web sites. Using the platform, consumers can find out information about particular cars, get financing rates and also be connected to a car dealer in their area."