Car Throttle raises $1.6m to fund transition from blog to media platform
The online publication claims to be one of the biggest automotive websites in the world
Automative media company Car Throttle has raised $1.6m from Redalpine with Passion Capital and Facebook’s vice president of global partnerships Blake Chandlee.
Launched in 2008 by Adnan Ebrahim, the London-based start-up began as a blog for car enthusiasts. From humble beginnings in a UCL dorm room, it has accelerated to more than one million Facebook fans, 300,000 Youtube subscribers and claims to be one of the biggest automotive websites in the world.
Describing itself as ‘the internet’s car community’, Car Throttle runs on the constant traffic of user generated content and discussions and says it has around 500 posts and 2,000 comments a day from petrol heads and enthusiasts.
It is thought the funding will be used to fuel its transition into new verticals, applying its editorial model to other specialist online communities.
Commenting on the deal, Ebrahim, said: “This latest funding round allows us to continue building what we believe is the future of publishing; focusing on niches, like automotive, and growing rock-solid communities with the right balance of editorial content and user-generated posts”.
Facebook’s Chandlee said: “There is huge growth right now in vertical communities, particularly in building the technology which powers user-generated content around tight niches. Car Throttle has identified a community of petrolheads who are currently underserved by existing broader platforms.”