Carwow on a buying spree

[Andy665]

Just announced they have bought AutoExpress, evo, Carbuyer, Driver Power and DrivingElectric from Autovia.

[anonymous-user]

Didn't Matt put out a request a few months ago asking for investment? This must be the reason why.

[PinkHouse]

Didn't realise you could release so much cash from the refinance of a GT3 RS!

[CLK-GTR]

I really do hope they revitalise Evo magazine. It was the best in the business but has lost its way in recent years, perhaps ever since Harry sold up.

[anonymous-user]

CLK-GTR said:

I really do hope they revitalise Evo magazine. It was the best in the business but has lost its way in recent years, perhaps ever since Harry sold up.

I agree. I used to buy it every month and did for years but lost interest when they went down the cars for the rich only route.

[_Neal_]

BunkMoreland said:

In times like this I always quote Julian Richer. Formerly of Richer Sounds.

"What goes up fast, comes down fast"

Whenever a company goes on an unexpected buying splurge. Its so the owner of the company can make his company big and cash out. Its never sustainable long term, the next owners have to restructure and make redundancies. Leaving nothing but chaos and joblessness in their wake!

As far as I know there is no one "owner" of Carwow - they've been through multiple investment rounds (including crowd funding) and are backed by venture capital and large institutions. As such it's hardly an unexpected buying splurge - "buy and build" is a very common way of growing businesses quickly, particularly in sectors like automotive publishing where things have been challenging for a while, so acquiring a stable of titles makes sense.

Hopefully they are a good home for the titles and content a lot of us like.