Before we start this article, I want to discuss the history we’ve had with DriveTribe so there is no hidden bias. We were official publishing partners with DriveTribe for a number of months, in which we were paid to write articles which were published on the site. This contract was terminated more than a year ago and since then we have had no connection with DriveTribe whatsoever. Any article posted by us on the site since then wasn’t paid for in any way, monetarily or otherwise.
The Grand Tour’s presenters, Jeremy Clarkson, Richard Hammond and James May have each poured millions of pounds’ worth of investment into DriveTribe, alongside businesses such as 21st Century Fox and other private investors. But after three years of activity, DriveTribe is still yet to turn a profit.
The website, described as “YouPorn but for cars” by Clarkson, is now hoping it can be bailed out by the taxman. £750,000 can be had in development and research tax credit by the end of the year followed by another £500,000 next July. But after losses of £23million over the last couple of years, it’s difficult to stay positive.
Jonathan Morris, CEO of DriveTribe is keen to disagree with what these figures are saying, however. He told the Daily Star: “As you will know with any start-up there is a ‘building’ period where the company spends investment to create a brand, product and technology.
“Then a ‘growth’ period where we focus on becoming a market leader and turning a profit. We are now in that growth period.
“Our plan is to be profitable towards the end of next year.”
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