Hot Rods: Top Car Social Networks CarDomain And StreetFire Merge

[​IMG]#-Link-Snipped-# and #-Link-Snipped-#, the no. 1 and no. 2 social networks for car enthusiasts, respectively, have merged. An announcement will be made later this morning. StreetFire CEO #-Link-Snipped-# will run the combined entity, although the CarDomain is the acquiring company and has a majority of the equity. CarDomain founder and Chairman #-Link-Snipped-# will become Chairman of the combined entity. The companies will continue to maintain separate offices, Seattle for CarDomain and Los Angeles for StreetFire.CarDomain was funded entirely by Algard. StreetFire has taken two rounds of financing totally nearly $8 million from #-Link-Snipped-#. Jeremy Liew, the Lightspeed partner who led those investments, will take a board seat at the combined entity.The companies cater to car enthusiasts which are for the most part men between 16-30. Comscore shows relatively flat growth over the last year for both sites - 3.2 million montly uniques worldwide for CarDomain, and 1.1 million for StreetFire. The companies say their internal Google Analytics show about 5 million uniques combined for the company, after removing estimated duplicate audience. WidgetFire also has a video widget that reaches another 4 million or so unique visitors a month via sites that have embedded it.Both companies have gone through layoffs in the last year. CarDomain has trimmed staff to a dozen from fifty employees a year ago. StreetFire has also let about 8 staff go, and is also currently at a dozen employees. The companies say no further layoffs are needed.

#-Link-Snipped-#

Replies

  • Ashraf HZ
    Ashraf HZ
    You gotta be kidding me.. a social networking site just for cars?

    .. oh well, beats Facebook or MySpace, at least.

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