Autoebid announces a change of ownership following a successful bid by Acorn Money.
Autoebid, recognised as a leading name in the new car discount marketplace, announced that the company has changed ownership following a bid from established finance broker ‘Acorn Money’.
The transfer of ownership was completed in early January following a decision by Autoebid’s company founder Amin Saleem to sell the successful business in order to fully dedicate his time and efforts on a new business venture Abstract Art London and continue to mentor other aspiring business entrepreneurs.
The acquisition of the Autoebid brand has considerably strengthened Acorn Money’s portfolio in the motoring arena, placing Autoebid alongside the company’s existing MotorPocket subsidiary. MotorPocket is a customer focussed platform that assists customers in securing vehicle finance, whilst Autoebid is a unique cost saving platform, which provides customers with the lowest prices available, for vehicle makes and models.
Having helped customers successfully purchase over £230 million worth of new vehicles, all at discount prices, Autoebid is a revolutionary platform, which encourages suppliers to competing to offer the largest discount off RRP.
CEO of Acorn Money Chris Greener commented: “The Autoebid acquisition has opened up access to a wealth of new relationships and trust, which has been built up over the last 13 years. We’re excited to now be in a position to offer complimentary services from both MotorPoccket and Autoebid.”
Autoebid’s technology platform has provided a solid base to develop further. Traffic to the site has increased in recent weeks as Acorn’s CTO Nik Siafakas has implemented a series of major improvements to the site layout, content and performance.
CTO Nik Siafakas commented: “Autoebid’s technology was a game changer thirteen years ago, a true pioneer of the internet age. Significant improvements to the customer experience are in progress that will benefit our existing and future users, as the improvements are rolled out.”
Notes to editors:
‘AutoeBid’ offers new cars from reliable 5 star UK suppliers at the lowest possible prices. Uniquely, Autoebid gets all suppliers to compete, not just suppliers that pay a fee, to ensure the lowest possible price. Autoebid has also featured in The Sunday Times, Which? Magazine and What Car? for their unique new car discount business model.