DUPONT REGISTRY SECURES STRATEGIC INVESTMENT

Victor M. Gómez III commits to make a significant investment in Series A round of financing

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Mar 01, 2022, 10:00 ET

MIAMI, March 1, 2022 /PRNewswire/ -- duPont Publishing, Inc. (d/b/a "duPont Registry"), a Motorsport Network company, today announced that it has closed a Series A round of financing, led by strategic investor, Victor M. Gómez, III. Mr. Gómez is founder of Gómez Hermanos Kennedy, LLC, one of the largest luxury car dealer networks in the Americas, who has operated authorized dealerships for brands such as Ferrari, Lamborghini, Bentley, Porsche, Audi, Maserati, Land Rover and Jaguar, among others.

duPont Registry Secures Strategic Investment

Victor M. Gómez III said: "I have been following duPont Registry for decades and there is no better or bigger name in the luxury car marketplace. In combination with Motorsport Network and its technical capabilities and global reach, with approximately 62 million active monthly users, I'm sure we will take this business to the next level."

duPont Registry has been a market leader in the luxury automotive marketplace for over 36 years, dedicated to connecting affluent buyers with high-end exotic cars and luxury brands. With this initial round of strategic financing, Motorsport Network will further extend and grow duPont Registry's leadership position as the most influential, innovative, and sophisticated ultra-luxury automotive marketplace, providing an exceptional experience for the affluent consumer dedicated to a driven lifestyle. With the fast-growing global classic, luxury and exotic car markets and the acceleration of automotive digital retailing, duPont Registry is poised to lead the digital transformation of the industry.

duPont Registry sits at the nexus of Motorsport Network's Driven Lifestyle division, harnessing in one ecosystem, the culture, community and commerce of the world's luxury and classic automotive lifestyle. The Driven Lifestyle portfolio features Canossa Events, synonymous with excellence in road touring, and the organizer of 250+ marquee experiences per year for driving enthusiasts. Part of Canossa Events, Cavallino is one of the preeminent media and concours events companies in the world, hosting landmark events for high-end automotive collectors and admirers, such as the Annual Palm Beach Cavallino Classic. The Driven Lifestyle portfolio also features FerrariChat a leading global social platform and the foremost voice for Ferrari owners and enthusiasts, with 20+ years of experience connecting approximately 200K engaged registered members.

Will Chapman, CEO, duPont Registry said: "Welcoming the Gómez Family as our partners is a testament to the growth potential of this industry. Their extensive knowledge and unparalleled reputation in the ultra-luxury and exotic automobile space, along with their deep understanding of the affluent automotive consumer, will drive tremendous value in our development of new products, services and experiences."

Oliver Ciesla, CEO, Motorsport Network said: "We see a huge potential to quickly grow our Driven Lifestyle division by integrating its activities into Motorsport Network's advanced digital platform and by expanding internationally. Victor's experience and support will accelerate our plans to build the leading online marketplace for selling and buying supercars. I very much look forward to our cooperation. A warm welcome to Motorsport Network."

About duPont Registry

For over 36 years duPont Registry has been the premier exotic and luxury automotive marketplace destination for buyers and sellers of fine automobiles. It connects millions of buyers and sellers across the globe. As part of the Motorsport Network portfolio, under the Driven Lifestyle division, duPont Registry will use the advanced technology capabilities and global reach of the parent company to further extend its leadership position as the most influential, innovative, and sophisticated ultra-luxury and exotic automotive marketplace. duPont Registry's brand authority, publication, and digital properties lead the luxury automotive marketplace with an impressive reach of nearly 10 million+ followers in social media.

About Motorsport Network

Every month approximately 62 million dedicated users visit a Motorsport Network digital property, to buy, to learn, to be entertained, or simply to feed their passion for cars and racing. We sit at the heart of the Racing and Automotive industries and provide authoritative thought leadership as well as unique experiences to our customers. We take them on a customer journey that encompasses news and insights, events, tickets, games, and eSports, so we leverage the network effect to add value to their experience.  We use our in-house technology and modern data tools to continuously test, learn, and improve. Our processes, content creation, and products are constantly evolving to better serve our audience, clients, and partners.

About Víctor M. Gómez, III and the Gómez family

Since 1949, the Gómez family name has represented part of what is the automotive industry in Puerto Rico, becoming the oldest and most experienced company in the automotive industry. The last name "Gómez" has become synonymous with quality and reliability. Today, the legacy continues with the fourth generation of leaders taking on new challenges.

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FORWARD-LOOKING AND OTHER CAUTIONARY STATEMENTS

Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Network, LLC (the "Company") and are difficult to predict. Accordingly, the Company does not assume responsibility for the accuracy or completeness of any forward-looking statement and readers should not rely on any forward-looking statements as predictions of future events. These forward-looking statements include, but are not limited to, statements concerning, among other things: (i) the Company's expectation to further extend and grow duPont Registry's leadership position as the most influential, innovative, and sophisticated ultra-luxury and exotic automotive marketplace, providing an exceptional experience for the affluent consumer dedicated to a driven lifestyle and that with the fast-growing global classic, luxury and exotic car markets and the acceleration of automotive digital retailing, duPont Registry is poised to lead the digital transformation of the industry; (ii) in combination with Motorsport Network and its technical capabilities and global reach, the Company's expectation to take the duPont Registry business to the next level; (iii) the Company's expectation that the Gómez Family's extensive knowledge and unparalleled reputation in the ultra-luxury automobile space, along with their deep understanding of the affluent automotive consumer, will drive tremendous value in the Company's creation of new products, services and experiences and the Company's expectation to launch such products, services and experiences in the near future; (iv) the Company's expectation that as part of the Motorsport Network portfolio, under the Driven Lifestyle division, duPont Registry will use the advanced technology capabilities and global reach of the parent company to further extend its leadership position as the most influential, innovative, and sophisticated ultra-luxury and exotic automotive marketplace; and (v) the Company's expectation of having a huge potential to quickly grow our Driven Lifestyle division by integrating its activities into Motorsport Network's advanced digital platform and by expanding internationally and its belief that Mr. Gómez' experience and support will accelerate the Company's plans to build the leading online marketplace for selling and buying supercars. The Company's actual results may differ materially from such forward-looking statements for a number of reasons, such as due to: (i) the Company experiencing difficulties, delays or less than expected results in achieving the Company's growth plans, objectives and expectations, such as due to a slower than anticipated economic recovery, higher than expected inflation, interest rates, unemployment and/or labor participation rates; (ii) the Company's inability, in whole or in part, to continue to execute its business strategies and plans, such as due to the ongoing COVID-19 pandemic and its variants, related lockdowns and mandates or for other reasons; (iii) the Company experiencing difficulties and/or delays in enhancing its new products, services and experiences that could negatively impact its future development plans, such as due to difficulties or delays in launching new products, services and experiences, higher than anticipated costs incurred in developing, launching and continuing to enhance and improve such new products, services and experiences and/or less than anticipated consumer acceptance of the Company's new products, services and experiences and/or difficulties, delays in or unanticipated events that may impact the timing and scope of new products, services and experiences, such as due to higher than anticipated expenses, operating costs, transaction costs and/or actual or contingent liabilities; adverse effects of increased competition; and/or unanticipated changes in consumer behavior, including as a result of general economic factors, such as increased inflation; (iv) the Company experiencing difficulties, delays or other disruptions in successfully realizing its expected benefits from synergizing and optimizing the relationship between Motorsport Network and duPont Registry, such as due to unexpected internet outages, server downtime, other technology-related problems, the unavailability of technical personnel, cybersecurity related issues, computer hacking or other reasons; and/or (v) the Company experiencing difficulties, delays or less than expected results in achieving the Company's plans to quickly grow its Driven Lifestyle division, such as due to difficulties or delays in integrating the division into Motorsport Network's platform, and/or due to less than anticipated benefits from its association with Mr. Gómez. Factors other than those referred to above could also cause the Company's results to differ materially from expected results. The Company assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing the Company's plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, the Company's websites or any other websites referenced or linked to this press release shall not be incorporated by reference into this press release.

SOURCE Motorsport Network