Scott Painter of Zag Named Finalist for the Ernst & Young Entrepreneur of the Year(R) 2010 Award

SANTA MONICA, Calif., May 18 /PRNewswire/ -- Zag (www.zag.com), which powers online car buying programs for more than 40 of the nations leading brands, including USAA, American Express and AAA Clubs, today announced that the company's Founder and CEO, Scott Painter, is a finalist for the Ernst & Young Entrepreneur Of The Year® 2010 Award in the Greater Los Angeles Area. According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities. Painter was selected as a finalist by a panel of independent judges from a distinguished pool of entrepreneurs. Award winners will be announced at a special gala event on June 22, 2010 at the Beverly Hilton.

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"It's a huge honor and privilege to be recognized for doing something you believe in," said Painter, whose mission for the past twenty years has been to improve the car buying experience by bringing pricing transparency to the auto sales transaction. "I'm privileged to be working with an incredible team at Zag," added Painter. Launched in 2006, Zag has saved consumers an aggregate of over $180,000,000 off of MSRP on new cars across its car buying programs. "Zag is proving that both consumers and dealers benefit when car prices are offered upfront, without the secrecy, without the haggling," said Painter. Continuing on his commitment to pricing transparency and improving the car buying process, Painter founded and is also current CEO of TrueCar.com, which launched in April of 2009.

The Ernst & Young Entrepreneur Of The Year awards program celebrates its 24th anniversary this year. The program has expanded to recognize business leaders in over 135 cities in 50 countries throughout the world. Regional award winners are eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 13, 2010. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies.

Sponsors

Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.

In the Greater Los Angeles Area, sponsors include Marsh, Scherzer International, Union Bank, Bowne, and Montgomery & Co.

About Zag:

Zag has created a better way to buy a car. Zag powers online car buying programs for more than 40 of the nation's foremost brands including USAA, AAA Clubs, American Express, Capital One and Overstock. Zag leverages group buying power with its nationwide network of over 3,000 select car dealers to provide car shoppers with low, upfront prices and a haggle-free car buying experience and since its launch, has saved consumers more than $180,000,000 off the MSRP on cars. Over 100,000 new and used cars have been sold by Zag dealers since the launch of the first program in 2006. Zag was recently named the second fastest-growing company in Los Angeles County by the Los Angeles Business Journal. Zag is based in Santa Monica, CA.

About Ernst & Young's Entrepreneur Of The Year® Awards Program

Ernst & Young's Entrepreneur Of The Year® is the world's most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year® celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited located in the U.S.

SOURCE Zag

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