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Logo used from 2006 to 2015. Gumtree was founded in March 2000 by Michael Pennington and Simon Crookall as a local London classified ads and community site, designed to connect Australians, New Zealanders and South Africans who were either planning to move, or had just arrived in the city, and needed help getting started with accommodation, employment and meeting new people.
Arnold sold the business in 1988 to Cox Enterprises, an Atlanta-based media chain. [7] In 2010, Providence Equity Partners purchased a 25% interest, becoming a minority owner in the company. [8] Kleiner Perkins Caufield & Byers is also an investor. In 2010, a tool was added to the website to get an instant trade-in offer. [9]
The X5 signaled a shift away from the utilisation of body-on-frame construction, in favour of more modern monocoque chassis construction. Although the Mercedes-Benz M-Class was introduced more than a year prior to the X5, the X5 was the first to utilise a monocoque chassis. The M-Class used body-on-frame construction until its second generation.
The X5, along with the BMW Z4 (E85) roadster, BMW X6, and BMW X3 were manufactured in BMW's South Carolina plant in Greer and at the BMW de México plant in Toluca, Mexico, alongside the BMW 3 series, BMW 5 series and BMW 7 series. Production of the E53 X5 began on 1 September 1999 and ceased on 22 September 2006. [13] [14]
In November 2021, X5 Group and Alfa-Bank launched joint financial service “X5 Bank”, 49,99% each held by the retailer and by the bank with 0,02% owned by “Alfa Investments”. X5 Bank is a part of X5 Group strategy to be represented at every step of customer journey from product to purchase. [74]
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