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It is the mission of our company to provide the most comprehensive web-based and mobile solutions to enhance personal asset lifecycles, aimed at increasing the safety, dependability and value of our customers’ homes and vehicles. We do this through direct relationships with the owners themselves, as well as through financial service and insurance providers, automotive service shops, and enthusiast networks.
Ownersite Technologies was founded by Steven Eppinger, the operator of the highly popular F150online.com community site, which, when sold to Internet Brands in April 2007, featured more than 125,000 registered members. It was from his direct experience with automotive enthusiasts that he devised the original concept for Ownersite.
Launched in January 2001, our flagship direct-to-consumer Ownersite (http://www.ownersite.com) provides an online alternative to the traditional spreadsheet method of documenting and sharing fuel usage and vehicle maintenance.
Thanks to the input of our users, the product has been upgraded to include service reminders, trip logging, comprehensive reports, wireless access and many more useful features that enhance vehicle ownership, including an easy way to share a vehicle’s maintenance history and receipts within online classifieds like eBay, Autotrader or Craiglist. In July 2001, Ownersite was recognized as an "Incredibly Useful Site" by Yahoo! Internet Life Magazine.
Initially offered as a free, advertiser supported product, the model was discontinued in September 2003 when Ownersite was converted into a subscription-based revenue model with a 30-day free trial. Despite the prevailing Internet business model wisdom of the time, the conversion was deemed very successful, yielding a retention rate of greater than 50%. Since that time, Ownersite has seen an average 12-15% conversion rate from free trial to paid subscription and an 80% annual subscription renewal rate.
As Ownersite grew in popularity, so did the demand for additional business models. In April 2004, the company announced its private-label model, which licenses the core Ownersite technology to companies that are interested in providing the service to their customers as a value-add to their business model with their website look-and-feel. The model comes, with the added advantages of being hosted on our infrastructure, providing electronic direct mail and CRM functionality directly within the product. Initially targeted to credit unions, Ownersite OEM, as it is called, is available to financial service providers, maintenance providers and enthusiast communities under a variety of licensing models.
In February of 2008, Ownersite Technologies launched Home Ownersite (http://home.ownersite.com), which applies the model of Ownersite to consumers’ largest investment—their personal property. Home Ownersite makes it easy to safely and securely record all of the important details of home ownership, including property inventory, tax records, mortgage information, and more. Like Ownersite for vehicles, Home Ownersite includes a component that makes it simple to share inventory details with an insurance company in the event of a catastrophe.
Also launched in February 2008 was an initiative built around Ownersite’s affiliate model to recruit credit unions as a distribution channel for our product. In its early stages, the model provides professionally produced content on the importance of vehicle maintenance for use by credit unions for their websites, electronic and printed newsletters, statement inserts and branch marketing materials. The model creates a recurring revenue stream for credit unions and extends their member relationships beyond the pre-sales and purchase phases of the vehicle lifecycle.
Leveraging the growth and popularity of Ownersite and F150online.com, Ownersite Technologies has forged relationships in the NASCAR Craftsmen Truck Series in the past. We recently signed an OEM agreement with a company that will utilize our technology as the customer interface for a pre-paid vehicle maintenance program that has just begun generating revenue.