PeopleFirst.com, San Diego, an online auto loan provider, and giggo.com, Dallas — an online auto financing and shopping site owned by DaimlerChrysler Group — recently formed an alliance to create a full-service automotive financing site.
The new entity, which will be known as giggo.com inc., will provide consumers with PeopleFirst’s loan origination and servicing capabilities as well as with giggo.com’s lending aggregation platform.
PeopleFirst.com will acquire all outstanding shares of giggo.com from DaimlerChrysler for a 23 percent common stock equity in the company. The transaction is expected to close on Sept. 15.
