Autobytel is evolving as a provider of digital automotive services to connect potential vehicle buyers and dealers by changing its name.
Effective next Monday, the company that started 22 years ago will be known as AutoWeb.
In connection with this name change, the company’s stock ticker symbol will change from “ABTL” to “AUTO” on the Nasdaq Capital Market. Trading under the new stock ticker symbol is anticipated to commence next Monday, too.
Autobytel president and chief executive officer Jeff Coats reflected on how the dynamics of reaching in-market shoppers has changed since the mid-1990s.
“When Autobytel was founded in 1995, the era of digital leads and clicks was in its infancy,” Coats said. “In fact, telephones and newspapers were still the primary source of communication between dealers and consumers.
"More than 20 years later, in a market dominated by the Internet, we’ve become a leader in the digital automotive landscape,” he continued. We believe the rebranding and name change to AutoWeb better aligns with our operations and corporate strategy, particularly as we look to further expand our Internet leads and clicks businesses.”