India’s leading auto classified portal CarDekho.com on 9th February 2015 has announced an investment in the company by Ratan Tata. However, the Investment amount remains undisclosed.
In a recently concluded funding of USD 50 million led by Hillhouse Capital with participation from Tybourne Capital and Sequoia Capital, the parent company Girnar software private limited valued at USD 300 million.
As claimed by Cardekho.com, the lead generation has been doubling YoY and traffic has also gone up by 45%. Ratan Tata also has investments in Snapdeal, Blustone and Urbanladder.
Amit Jain with brother Anurag jain founded Jaipur based Girnarsoft in 2007. Both of them are alumni of IIT Delhi.
Mr. Amit Jain, CEO and Co-Founder, GirnarSoft said, “We are extremely proud & excited to partner with a man of Mr. Tata’s stature, especially considering his contribution to the growth & development of the Indian automobile industry. Following our humble beginning as a small venture in Jaipur, CarDekho has had a very exciting journey to reach this point of recognition and we now have very aggressive plans for developing our business and boosting revenues in the future. Post our recent funding and investment by Mr. Tata, we are another step closer to the group’s vision of becoming a global company through our innovative products and services. With the faith and confidence shown by Mr. Tata in the company, it increases our responsibility towards contributing for the overall development of the online automobile sector.”
Mr. Anurag Jain, COO and Co-Founder, GirnarSoft said, “We are currently in the agile mode of expansion and our marketing initiatives are well aligned with our fast paced growth. We are focusing on uplifting and strengthening the brand presence through various activities this year. We would also be looking at doubling our workforce by hiring 1000 more people this year”.
Carwale.com and cartrade.com are competing with cardekho.com. Last year cardekho.com acquired another competitor Gaadi.com.