Berkeley-based Hotswap.com takes a different approach to the $370 billion a year used car industry. Hotswap brings buyers and sellers together in one place. One large difference between Hotswap and other used auto companies like Autotrader is the reliance on video, rather than solely pictures, for vehicle descriptions. This application of recent trends on the web toward video makes them, in a way, the Youtube.com of used car sales. Hotswap is funded by The Kinsey Hills Group. Although still in pre-launch mode at this time, Hotswap recently acquired a deal with Red McCombs Automotive , which produces around $800 million a year in sales and will list every one of their used cars on Hotswap. At this time they are also in negotiations with AutoNation. The nature of their business makes them natural competitors with Ebay, the multitude of used car sites on the web, and Edgeio, which was co-founded by TechCrunch's Mike Arrington.
HotSwap was deadpooled in April 2008.
Funding Rounds (1) - $1MUpdate