How it started
History
CAR Group, originally named carsales was established in 1997 and founded by Greg Roebuck and Wal Pisciotta in Melbourne, Australia with what was at the time just a small idea of moving print classified advertisements for motor vehicles onto the internet.
In October 2005, carsales acquired ACP Magazines' online classified businesses, including Carpoint.com.au, Boatpoint.com.au, Bikepoint.com.au, Ihub.com.au, and statistic company Equipment Research Group. In exchange, ACP's parent, Publishing & Broadcasting Limited, took a 41% stake in carsales. In August 2007 Red Book was purchased.
In 2009, carsales was listed on the Australian Securities Exchange. In 2010, Quicksales was purchased. In March 2011, Nine Entertainment, previously Publishing & Broadcasting Limited, sold its 49% shareholding in carsales.
In March 2013, carsales purchased a 20% stake in ICar Asia, followed by a 30% shareholding in webmotors of Brazil from Banco Santander the next month. In April 2023, carsales acquired a further 40% stake in webmotors.
In March 2014, a 49% share of SK Encar, Korea was purchased from SK C&C. The remaining 51% was purchased in 2016. In 2016, soloautos of Mexico and chileautos of Chile were purchased.
From Wikipedia’s article on Carsales.com Ltd, shared under CC BY-SA 4.0.2