The 34-year-old automotive personality talks about the deal with the Chernin Group to redline growth of his online marketplace.
“It’s going to allow us to take Cars & Bids to the next level, let me refocus on making YouTube videos and get the help of a group of people who actually know what they’re doing,” DeMuro tellsAs part of the deal, the Chernin Group will take a majority stake in a new company that will combine DeMuro’s YouTube work and Cars & Bids into one venture. It will also place Ro Choy, an expert in business transformation, as CEO.Drew Martin, courtesy of Cars & Bids.
Since launching his YouTube channel in 2013, DeMuro has become the most-watched car reviewer in the US. Famous for his “Quirks and Features” segments and “Doug Score” ratings, his videos have racked up more than 1.7 billion views and an impressive 4.5 million subscribers. In 2019, DeMuro partnered with tech entrepreneur and car enthusiast Blake Machado and developed their online-auction platform, which focuses on buying and selling enthusiast vehicles from the 1980s to today.
“The success of Cars & Bids never fails to astonish me,” says DeMuro. We launched in May 2020, not quite at the start of Covid, but not far behind. My assumption was that it would immediately fail. But by sheer dumb luck, we launched into this unbelievable car market.”
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