CarDay.com launches with $8 million in ads

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CarDay.com, New York, launched its online used-car auction site May 1 in New England. The debut is backed by an $8 million TV, radio and print push in Boston; Hartford, Conn.; and Providence, R.I., from @tmosphere, New York, a unit of BBDO Worldwide. The company was founded by a third-generation auto dealer. Revenues are generated from buyers' and sellers' fees. The site got $25 million in backing from several investors, including Goldman Sachs & Co.

Copyright May 2000, Crain Communications Inc.

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