DriveBid, with Black Book data, helps dealers find, bid and buy vehicles direct from consumers.
CHARLOTTE, N.C., April 13, 2022 (GLOBE NEWSWIRE) -- Capstone Technologies Group, Inc (OTC: CATG) a company that acquires, operates and organically develops disruptive technologies, today provided an update with respect to its minority interest in data technology and media company, DrivenIQ.
Black Book has announced the integration of its VIN-specific valuation and VIN Decoding data into DrivenIQ’s new DriveBid™ platform.
DriveBid, the first consumer-driven Live Trade-in Marketplace, helps dealers sell more cars while sourcing valuable inventory direct from the consumer. At NADA, DriveBid signed over 250 dealers onto their new platform.
“Integrating Black Book’s data into DrivenIQ’s DriveBid platform provides dealers with the data they need to increase their revenue and maximize their profit,” said Jared Kalfus, President of Black Book. “Dealers will have up-to-date, precise data so that they can more competitively bid for new inventory, make more desirable trade offers and sell more vehicles.”
The DriveBid marketplace allows consumers to place their vehicle into a virtual garage and receive Black Book’s trade-in valuation or valuation range for their vehicle. Dealers can then bid on the vehicle or make a purchase offer. At the same time, dealers can display their inventory and enable it to be shopped by consumers.
“It was great to be back to in-person events, and we’re thrilled with the success that we saw in Las Vegas at NADA, our industry’s largest convention,” said Albert Thompson, CEO of DrivenIQ. “DriveBid connects dealers who need inventory with consumers who are looking for the best offer for their vehicle in a real-time, easy-to-use online platform. DriveBid empowers consumers to watch live bidding and simultaneously communicate with dealers to ask and answer questions, as well as to explore inventory for their next vehicle purchase. Black Book’s data allows us to create transparency in the trade-in and vehicle purchasing process that until now, has never existed.”
DrivenIQ is a data-driven intelligence technology firm. Late last year, Capstone Technologies Group, Inc (OTC: CATG), a company that acquires, operates and organically develops disruptive technologies, acquired an initial minority interest in DrivenIQ and has invested additional capital to further accelerate the company’s growth.
To register or for more information, visit DriveBid.
About Black Book
Black Book® is a leading provider of automotive vehicle pricing and analytical services that are delivered to industry-qualified users through mobile, online and Data as a Service applications. Since 1955 Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a Hearst company, and maintains offices in Georgia as well as Toronto, where Canadian Black Book is based. For more information, please visit BlackBook.com or call 800.554.1026
About DrivenIQ and DriveBid
DrivenIQ is an omni-data ad tech company that specializes in zero party and 1st party data to help businesses best advertise to their ideal customers. The company offers a variety of services, including website traffic analytics, geo-zoning technologies, text message marketing, social media solutions, and DriveBid™, a live vehicle trade-in marketplace, to help businesses and marketers engage with their existing and prospective customers, Founded by Albert Thompson, a digital advertising expert and former car dealer, DrivenIQ is best known for its automotive industry data solutions, although it helps small, medium, and large businesses across various industries. Visit www.driveniq.com for more information.
About Capstone Technologies Group
Capstone Technologies Group, Inc (CATG) seeks to acquire, operate and organically develop disruptive technologies across several sectors where they have expertise aided by a network of experts and advisors. Capstone Technologies Group also intends to invest through a wholly owned subsidiary Capstone Venture Partners, LLC alongside best-in-class investors or directly in proven founders building companies with technologies that will shape the future.
DrivenIQ Contact
Albert Thompson
President, Co-Founder
albert@driveniq.com
443-370-9143
http://www.driveniq.com/ (New website coming soon)
Investor Relations Contact
Mike Pruitt
Founder, Avenel Financial Group
President, Capstone Technologies Group, Inc
mp@avenelfinancial.com
704-578-2238
Avenelfinancial.com
Capstonetechgroup.com
