iDriveonline, Inc.Founded in 2000, iDriveonline, Inc. ("iDrive") developed and provided customer loyalty and retention programs for the automotive industry. iDrive's vertically targeted customer relationship management system utilized proprietary database technologies to provide intelligent delivery of personalized communications. iDrive's system effectively mined, cleansed, and managed client databases in an application service provider ("ASP") environment. iDrive established contractual relationships with an impressive customer base which included some of the largest and most well respected dealership groups in the automotive industry. Main Street provided capital to facilitate the company’s rapid growth strategies. In April 2004, iDrive was acquired by a publicly-traded competitor Autobytel, Inc. ("Autobyte", Nasdaq: ABTL) for a total estimated consideration of $11 million. Simultaneously upon Autobytel’s acquisition of iDrive, iDrive fully repaid Main Street’s debt investment in iDrive and redeemed Main Street’s warrant position in iDrive. LINK: http://dealer.idriveonline.com Back to List |
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