Philippines-based startup AutoDeal, a digital marketing platform for car brands, dealerships and consumers, is planning to enter the property and job portal business this year.
“The immense popularity of AutoDeal has boosted investor confidence, and we are now exploring other possible sectors, which include property and the job market,” AutoDeal co-founder Daniel Scott said.
Scott’s partner co-founder Christopher Franks told DEALSTREETASIA that AutoDeal will announce its involvement in the property and job market verticals in the first half of 2015. “There will be a number of differences in the product compared to other websites,” Franks said.
The founders said that they had just launched the AutoDeal’s 2.0 platform, which is equipped with enhanced features to deliver the promise of “Car Buying, Simplified” via digital tools for individuals, brands and dealers.
According to Franks, AutoDeal’s $600,000 (P27 million) seed funding from Future Now Ventures last year supported the startup’s rapid growth in last year even as they leverage on the 30 per cent annual sales increase of the Philippines’ 45 automotive brands in 2014.
The Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) has classified the country, as the second fastest growing automotive market in the world.
Since its 2013 launch, AutoDeal said it has already generated more than 10,000 leads resulting in validated new car sales across multiple segments.
Franks and Scott, both have a decade of experience in developing online lead-generation technology and a proven track-record in the automotive industry.
They spotted an opportunity to leverage digital marketing when they arrived in the Philippines six years ago and that prompted them to establish Pinoy Auto Trader, which became the largest Philippine car classifieds website, and was acquired by local classified giant OLX (formerly Sulit.com.ph) in 2013.
Seeing the rapid growth of AutoDeal in 2014, venture capital firm Future Now Ventures with its founder John Orrock, invested $600,000 of seed funding in the startup company.