But he had to be responsible and realistic, so he went for a used 2022 Mercedes-Benz E 450 All-Terrain.
He initially wanted to buy his " absolute dream car," which is a Porsche Carrera GT with the money he got from the deal. After a few years, he switched to reviewing special-interest cars and other vehicles. He started his channel in 2013, and it was more of a personal ownership blog where he discussed the cars he owned, the first one being a red Ferrari 360, followed by an Aston Martin, a Hummer, and a Viper. There, he offers reviews on a wide variety of cars. It will also place Ro Choy, who is a business transformation expert, as CEO of the new company.ĭeMuro is a famous name in the car industry, thanks to his very popular YouTube channel. Enter TCG, the investment firm will now help with all of that.Īccording to the new deal, TCG will have a majority stake in the new company and will combine DeMuro's YouTube business with his car auction site, which will give the car reviewer more time to actually review cars. The website was immediately successful, but it meant Doug had to split his time between his YouTube channel and the new business. “ You never know what’s going to happen tomorrow or the next day, but I have a big audience and I really needed to create a business where I control the revenue streams, as opposed to YouTube being able to turn them on or off at any given time.” “ About three and a half years ago, it hit me that I wanted to do something with my audience that was less beholden to the YouTube algorithm,” Doug told Forbes regarding his new business venture. The first one sold? Doug DeMuro’s own car, a 2012 Mercedes-Benz E63 AMG station wagon which you can check in our gallery. Since its launch, Cars & Bids has sold over $230 million worth of cars. He partnered with Blake Machado and created Cars & Bids, a platform for " cool modern cars, trucks, and SUVs," mainly from between 19, but which also includes quite a few new ones and even EVs. While his YouTube channel remains his main activity, in 2020, he decided to start another business: a car auction site. He can now add "entrepreneur" to his resume, thanks to the new investment to help his business grow. A Better Bid® is a registered Copart Auto Auction broker. Find and bid on clean title and salvage title cars, pickup trucks, electric cars, luxury cars, SUVs, ATVs, motorcycles and boats all without the need for a dealer license. The 34-year-old car reviewer got a $37 million cash infusion from The Chernin Group (TCG), a leading investment firm, to help grow his online marketplace. A Better Bid® is an online car auction with more than 100,000+ vehicles on sale every day. Because the YouTuber has just received quite a cash flow for his auction site. And the move, as stressful as it might’ve been in the beginning, seems to have paid off.
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