As part of the agreement, AutoTrader.com will promote Greenlight from its Web site, making the San Mateo, Calif.-based company its exclusive new-car buying service. The two companies declined to discuss the financial details of the deal or its duration.
"Partnering with AutoTrader.com will provide car-buying customers with the most comprehensive selection of cars as well as the most complete and easy purchase process," Greenlight chief executive Todd Collins said in a statement.
AutoTrader.com will begin promoting Greenlight on its site sometime this spring, probably around April, said Alison Berkley Wagonfeld, Greenlight's vice president of marketing. Greenlight will also provide links back to AutoTrader.com for customers who want to find the trade-in value of a vehicle or list it for sale on the used car site.
Both auto sites are backed by Kleiner Perkins Caufield & Byers, although Wagonfeld said the blue chip venture capital firm did not play a role in today's agreement. Greenlight, which was co-founded by Asbury Automotive Group--one of the nation's largest automobile dealer networks--works closely with local car dealerships to make sales, which attracted AutoTrader.com, Wagonfeld said.
"They share our commitment to working closely with dealers," she said. "They wanted to partner with someone who shared this commitment."
Late last month, Greenlight announced a similar promotional agreement with e-commerce leader Amazon.com. As part of that agreement, Amazon bought a 5 percent stake in Greenlight.