AutoMD Receives Minority Investment

Carson, CA-based AutoMD, Inc., previously a wholly-owned subsidiary of U.S. Auto Parts Network, Inc. (NASDAQ: PRTS), received a minority investment of undisclosed amount.

Backers included Federal-Mogul Motorparts, a division of Federal-Mogul Holdings Corporation, Cox Automotive, Inc., and existing U.S. Auto Parts investors.

The company intends to use the funds to accelerate its growth of AutoMD.com.

AutoMD.com is a free online automotive repair resource for owners to repair their vehicles by getting instant comparative quotes and information on repair jobs from local repair shops, finding the right local auto repair shop at the right price for their issue, knowing how much auto repairs should cost, Troubleshooting car problems, having auto repair questions answered by the AutoMD.com community and understanding the steps needed and the time required for repairs through How-to Auto Repair guides.

FinSMEs

13/10/2014

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