Ikonick Motors investment closes out the Series A round of financing.
Miami, FLORIDA – March 8, 2022: duPont Publishing, Inc. (d/b/a “duPont Registry”), a Motorsport Network company, today announced that it has closed the second and final round of Series A financing, led by entrepreneur and philanthropist Barry L. Skolnick, founder of Ikonick Motors, LLC, home to some of the world’s finest artworks and automobiles.
Barry Skolnick said: “duPont Registry is known as the market leader in the luxury automotive marketplace and now, as part of the Motorsport Network portfolio and being able to take advantage of the company’s digital footprint and global reach, there is no doubt in my mind that duPont Registry will achieve great success in leveraging its existing business model to become a world leader in the online marketplace for selling and buying supercars and other luxury autos.”
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.
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 auto brands. Motorsport Network will use this second and final tranche of Series A financing to launch duPont Registry’s new business venture of building the most innovative, influential, and sophisticated online marketplace for selling and buying ultra-luxury and exotic automobiles, providing an exceptional experience for the affluent consumer dedicated to a driven lifestyle. duPont Registry is poised to lead the digital transformation of the industry, given the rapidly-paced global classic, luxury, and exotic car markets and the acceleration of online automotive retailing.
Will Chapman, CEO, duPont Registry said: “This second and final round of Series A strategic investment by Ikonick Motors will allow duPont Registry to continue its planned growth trajectory, while at the same time allowing us to work with Barry and his team.”
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 online marketplace. duPont Registry’s brand authority, publication, and digital properties lead the luxury automotive marketplace with an impressive reach of nearly 10 million followers on 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.
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’s as to the future growth and success of duPont Registry, including, without limitation (A) that as part of the Motorsport Network portfolio and being able to take advantage of the Company’s digital footprint and global reach that duPont Registry will achieve great success in leveraging its existing business model to become a world leader in the online marketplace for selling and buying supercars and other luxury autos, and (B) that duPont Registry is poised to lead the digital transformation of the industry, given the rapidly paced global classic, luxury and exotic car markets and the acceleration of online automotive retailing; and (ii) the Company’s plans to use this second and final tranche of Series A financing to launch duPont Registry’s new business venture of building the most innovative, influential, and sophisticated online marketplace for selling and buying ultra-luxury and exotic automobiles, providing an exceptional experience for the affluent consumer dedicated to a driven lifestyle, as well as its belief that it will allow duPont Registry to continue its planned growth trajectory. 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 its growth plans, objectives and expectations for duPont Registry, such as due to a slower than anticipated economic recovery, higher than expected inflation, interest rates, unemployment and/or labor participation rates and/or 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; and/or (ii) unanticipated demands on the Company’s liquidity that could result in difficulties and/or delays in achieving duPont Registry’s plans to build the most innovative, influential, and sophisticated online marketplace for selling and buying ultra-luxury and exotic automobiles; less than anticipated access to additional equity or debt capital to finance its growth plans and operations; difficulties or delays in launching its new business model, such as due to challenges in attracting and retaining qualified management and other personnel in a tight labor market; higher than anticipated expenses, operating costs, transaction costs and/or actual or contingent liabilities incurred in launching and growing its new business model; less than anticipated consumer acceptance of its new business model; adverse effects of increased competition in the online sales of ultra-luxury and exotic automobiles; unanticipated changes in the consumption behavior of duPont Registry’s targeted clientele, including as a result of general economic factors, such as increased inflation and/or interest rates or any tightening of the availability of credit; 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 the unavailability of technical personnel, cybersecurity related issues, computer hacking or other reasons; and/or less than anticipated benefits being derived from duPont Registry’s association with Ikonick Motors and/or Mr. Skolnick. 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.