The company, which offers marketing, advertising, and web services for automotive retailers, says it unveiled the new video service with a goal of meeting a growing need for high-quality video content in dealership online advertising.
“In a new direction for Autotrader, the campaign diffuses the stress of car buying with humor and brings the fun and personality back into the shopping experience," explains Greta Crowley, Vice President of Marketing, Autotrader.
The plan is also designed to help Faraday put together “equity financing efforts and prepare for an IPO,” according to the statement. Depending on the value of that proposed initial public offering, creditors may recover from 49% to 100% of what they are owed.
Copart's growth has significantly expedited in the last two quarters. The company reiterated its impressive performance in the fourth quarter with revenue bolting to a 20.8% increase from the year-ago period.