Valnet Inc. Completes Automotive Portfolio with Acquisition of CarBuzz
Valnet Inc. (or "Valnet") is thrilled to announce the successful acquisition of CarBuzz (CarBuzz.com), a prominent online automotive platform and news publication that boasts millions of readers in North America. This strategic move marks a significant step forward in Valnet's commitment to delivering comprehensive automotive content to a diverse audience.
CarBuzz is renowned for its commitment to empowering potential vehicle owners with an array of valuable resources, including in-depth buyer's guides, reviews, and innovative shopping tools. A standout feature is its proprietary BuzzScore rating system, which equips consumers with vital information about every car available in the North American market.
Commenting on the acquisition, Valnet CEO Hassan Youssef expressed his enthusiasm, stating, "CarBuzz.com is what we call internally our bread & butter as far as acquisitions and capital deployments go. It's a good brand with good fundamentals that we can supercharge by applying our winning process and leveraging our resources. Our relationship with CarBuzz's founder started almost a decade ago and we're excited to carry on the legacy they've built by welcoming CarBuzz to its new home at Valnet."
CarBuzz provides users with the ability to search and compare cars of any make and model, helping them make informed decisions based on factors like cost-effectiveness, power, practicality, and safety. Furthermore, CarBuzz enables users to explore current dealer prices and utilizes its proprietary Buying Program to offer hassle-free pricing for their preferred vehicles.
Valnet's existing auto brands, TopSpeed (TopSpeed.com) and HotCars (HotCars.com), cater to auto enthusiasts with a focus on breaking automotive news, professional car reviews, and exclusive content. In 2023, Valnet introduced stunning car renders on TopSpeed to enhance reader engagement, providing immersive visuals ranging from classic automobiles to futuristic EVs and imaginative mashups.
While TopSpeed and HotCars target auto enthusiasts, CarBuzz fills a crucial role in Valnet's auto portfolio as the primary source of information for consumers researching their next vehicle purchase.
Rony Arzoumanian, Head of Investment at Valnet, highlighted the significance of this acquisition: "The acquisition of Carbuzz.com is strongly additive to our automotive portfolio as it will allow us to further strengthen our position in the vertical from an editorial, audience, traffic, and tech perspective. As a well-established and highly authoritative digital publication, CarBuzz is poised for significant growth under Valnet's leadership for the years to come."
CarBuzz Founder Slava Yevdayev is equally excited about the platform's future under Valnet's ownership: "Valnet's commitment to maintaining and enhancing the brands they acquire, coupled with their successful history of fostering growth and innovation, convinced me that they were the right partner for CarBuzz."
Yevdayev continued, "What excites me most about the future of CarBuzz under Valnet is the potential for synergy and growth. Valnet's extensive resources, industry expertise, and global reach will undoubtedly provide new opportunities for CarBuzz to expand its audience and content offerings. I am confident that this acquisition will open doors to exciting collaborations and innovative developments that will benefit both CarBuzz and its readers."
With the acquisition of CarBuzz.com, Valnet is poised to offer a comprehensive view of the automotive landscape, catering to die-hard auto enthusiasts and individuals seeking expert guidance for their next vehicle purchase.
About Valnet Inc.
Driven by passion and performance, Valnet's overarching goal is to create and distribute content to millions of users daily across its brands. With over 5 billion sessions per year, Valnet is the leading digital media investment company that owns and operates a diversified portfolio of premier digital publishing assets across multiple verticals. Valnet has one clear goal: to become the greatest media investment company in the world. Our mission is a simple promise to deliver mission-critical content to educate and entertain millions worldwide through our beloved ever-growing brands. We look to acquire beautiful brands and businesses that will accelerate our mission. To read more about our recent acquisitions, please visit www.valnetinc.com/en/press-releases.
About CarBuzz
CarBuzz.com was founded in 2010 by a team of car enthusiasts hoping to bring premier car-related news straight to their readers. They gained a strong readership globally while becoming a reputable source for readers for anything related to factual and trustworthy car content, and a go-to source for pre-purchase questions.
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