CarStation.com Buys Motoreyes.com

Santa Monica-based Motoreyes.com, an automotive e-commerce company founded by a couple of MBA dropouts, has been acquired by San Francisco-based CarStation.com for an undisclosed sum. CarStation.com, which manages auto collision repair online, says the purchase will help to broaden its service offerings in the $200-billion U.S. auto repair industry. Motoreyes links consumers with mechanics via the Internet.

Motoreyes was founded by MBA candidates Chris Jenkins and Alex Wang, who left UCLA in the fall to join the Internet gold rush. The “dot-com” bubble has since burst, triggering a wave of mergers and acquisitions. But the pair are planning to stay on with CarStation, Jenkins as executive director of the company’s new mechanical service program, Wang as senior director of business development.

“We’re extremely excited,” said Jenkins, 30. “We’ve got some seasoned partners.”

Investors in CarStation.com, founded in 1998, include Goldman Sachs and Insight Capital Partners. The company has raised $50 million in venture capital and employs 200.