SCOTTSDALE, Ariz. – Canal Partners, a Scottsdale, Ariz.-based private equity firm, has announced that it has acquired a majority interest in privately-held Limos.com, with lead investments from the Limo.com executive team and software industry luminary James Armstrong, founder of JDA Software. Limos.com is the highest-ranking website in terms of Internet traffic for customers searching for ground transportation.
Limos.com’s executive team formerly started Hotwire.com, which was sold to IAC/InterActiveCorp in 2004. The team is led by CEO T.J. Clark, who was most recently Vice President of Operations for IAC, which operated 85 Internet brands during his tenure, including Expedia, Hotels.com, Ticketmaster, Citysearch, Ask.com, Match.com, LendingTree, Evite, and ServiceMagic. The other key members of the team include: Doug Anderson, Senior Vice President of Product & Corporate Development (Les Concierges, Hotwire.com, Hilton.com); Trevor Hart, Vice President of Marketing (Starwood Hotels, Hotwire.com, Delta Air Lines); Ed Park, Director of Technology (BabyCenter.com, Linkedin.com, Hotwire.com); and Carlos Matos, Manager, Limousine Affiliate Network (Avalon Transportation, Commonwealth Transportation). Limos.com founder, Michael Composto, also joined in the investment and will continue to serve as an advisor.
Limos.com plans to use its new investment for its new site design and user interface launching before year end. The new site will improve customer and operator usability, including “media-rich” marketing for operators to showcase their own brands and services to affluent internet customers. In early 2009, the company plans to roll out a booking engine, enabling customers to reserve and pay for ground transportation through its member network.