Greenlight.Com - How Greenlight.com Worked, Attracted The Interest Of Large Dealers, Added Dealers In 31 States
Greenlight.com was an online buying service for automobiles that launched in January 2000. The service was initially available in four Southern cities, then expanded to 31 states by mid-2000. The company was backed by a combination of venture capital firms, large automobile dealers, and Amazon.com. As the bear market took its toll on Internet stocks in 2000, the company laid off 25 percent of its workforce in December 2000. In February 2001, just over a year after it began, Greenlight.com was acquired by CarsDirect.com, a competing service.
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