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September 2005 Presenters

NeoSynergy: from browsing to title, online

Charles Shamblee III, founder and CEO of NeoSynergy, presented this company's new software that provides an automotive e-commerce solution, allowing customers to conduct transactions (service and sales) over the internet in real time. They are seeking $1.5 million for company growth, including awareness, funding a salesforce, and implementation of the product.

Each year, 20% of the total 14,000 dealers, or 2,800 dealerships, are up for software contract renewal. Of these, 70% will re-up for 3-5 years; 15% will go month-to-month with their current provider; and 15%, or 420 dealerships, will convert to an alternate provider. To meet 2006 sales goals, NeoSynergy needs to capture only 20 of these converting dealerships.

An initial core product has been completed and installed. This software solves problems the industry has had since web-based software was introduced. Users are providing strong positive reviews, and an increasing number of partners are approaching NeoSynergy.

By 2010, NeoSynergy projects gross revenue of $103 million, with net income of $80 million.