Cyber Ventures was an automobile purchase consulting and buying services provider. It was founded by Ian Bentley and William ‘Billy’ Ferriolo in 2003 in Tampa, Florida.
Through proprietary content and search marketing, Cyber Ventures and its sister company Autotropolis, Inc. generated and sold high-quality consumer automotive purchase requests. Together, they reported $10 million in annual revenues by 2009.
As a start-up, Cyber Ventures knew that it had a lot of work ahead of it. Especially since it was new to the highly competitive market for online automotive leads and internet marketing in the US. Therefore, it needed a technology partner that could give it an edge over other organizations.
However, Cyber Ventures knew that it needed more than just the help of a software development company. It needed a lean, Agile technology partner that would ensure it kept up with the times, improved how business was done, and constantly introduced advances technologies.
The above numbers attracted the attention of Autobytel Inc. (currently part of AutoWeb). After seven years in 2010, Autobytel acquired both Cyber Ventures for $15 million.
“The addition of Cyber Ventures and Autotropolis gives Autobytel a significant competitive advantage by providing us with an additional major source of high-quality, ready-to-buy consumer purchase requests coming directly from our network of branded consumer websites,” said Jeffrey H. Coats, Autobytel’s former President and CEO.
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