CarDekho

CarDekho
Type of site
 private
Available in English
Owner www.girnarsoft.com
Slogan(s) No.1 Auto Portal In India
Website www.cardekho.com
Current status Active
Written in HTML

CarDekho.com is an auto portal based out of Jaipur, India and is owned by the parent company, Girnar Software.[1] Other subsidiaries owned by Girnar include, BikeDekho.com, PriceDekho.com, TyreDekho.com, TrucksDekho.com, Gaadi.com, Zigwheels.com, Buyingiq.com and CollegeDekho.com.[2] CarDekho has been awarded the “website of the year” title for the year 2015.[3]

History

CarDekho was launched in 2008.[4] CarDekho.com came as a result of a visit to Delhi Automobile Expo. Company’s initial investment came in November 2013, when Sequoia capital invested $15 million in GirnarSoft.[1] CarDekho raised $50 million from Tybourne Capital, which is a Hong Kong-based hedge fund and the Chinese investment management firm, Hillhouse Capital in January 2015.[1] Following this series-B funding, Ratan Tata also invested in it.[5] This was followed by an investment from HDFC in May 2015.[6] After Google Capital invested in CarDekho in March 2016, CarDekho was valued at $380 million.[7]

Services

CarDekho provides lead generation services for new and used cars, along with media sales services on its portals, and monetises lifecycles of car owners via CarBuddy application. It also provides reviews, price information, on-road prices and comparison facilities for new cars, as well as classified listings for used cars.[8][9] It provides a TrustMark certification for used cars, which is carried by a collaboration between an inspecting body of CarDekho engineers and used car dealers.[10] A total of 217 parameters are inspected and a report is provided for the online listing of these TrustMark-certified used cars.[11]

Market presence

CarDekho saw traffic of 20.1 million visitors in the month of October 2015. The company, along with its subsidiaries, claims a network of more than five thousand new and used car dealers in the country.[12]

Acquisitions and tie-ups

In September 2014, CarDekho acquired Gaadi.com in a bid to increase its consumer base.[13] It partnered with Coverfox in October 2015, to accommodate auto insurance facilities for car buyers.[14] In the same month, it also acquired ZigWheels from Times Internet, making Times Internet an investor in the company.[9] In November 2015, the company entered in a MoU with Federation of Automobile Dealers Associations (FADA) with an aim of bringing digital benefits to automotive dealers of India.[15] In a cash-plus-stock deal, CarDekho acquired Drishya360s Software with an aim of developing interactive virtual reality solutions for its portals.[16] In March 2016, the company went on to raise an undisclosed funding by Google Capital.[17] In April 2016, CarDekho acquired Help On Wheels[18] and Connecto[19] and made a strategic investment in Advanced Structures India (ASI)[20] to strengthen its portfolio. The latest addition to the CarDekho family has been Volob Technologies, which was acquired in an all-cash deal on 3 May 2016.[21]

References

  1. 1 2 3 "CarDekho.com raises $50M in Series B round from Hillhouse, Tybourne & Sequoia | VCCircle". www.vccircle.com. Retrieved 2016-05-17.
  2. ↑ "Girnar Soft pumps $1 million into CollegeDekho to further higher education". thehindubusinessline.com. 2015-12-01. Retrieved 2016-05-17.
  3. ↑ "Website of the Year 2015". websiteoftheyear.co.in. Retrieved 2016-05-17.
  4. ↑ Das, Itika Sharma Punit & Sohini. "From two laptops to Tata's mentorship, lives of cardekho.com's founders come full circle". Retrieved 2016-05-17.
  5. ↑ "Ratan Tata's investment in CarDekho may help co swing into black soon - Firstpost". Firstpost. 2015-02-09. Retrieved 2016-05-17.
  6. ↑ "HDFC Bank buys into CarDekho - Times of India". The Times of India. Retrieved 2016-05-17.
  7. ↑ "CarDekho will continue acquisition spree". DealStreetAsia. Retrieved 2016-05-17.
  8. ↑ "CarDekho is set to acquire Zigwheels - Times of India". The Times of India. Retrieved 2016-05-17.
  9. 1 2 "CarDekho buys Times Internet's Zigwheels | VCCircle". www.vccircle.com. Retrieved 2016-05-17.
  10. ↑ Ltd., Girnar Software Pvt. "CarDekho.com Celebrates 1 Lakh Plus Used Car Listings /PR Newswire India/". www.prnewswire.co.in. Retrieved 2016-05-17.
  11. ↑ "Cardekho Trustmark - Certified Used Cars with Warranty in India". CarDekho. Retrieved 2016-05-17.
  12. ↑ "CarDekho.com secures investment from HDFC Bank". The Financial Express. 2015-05-28. Retrieved 2016-05-17.
  13. ↑ "Auto portal Cardekho acquires Gaadi.com - Times of India". The Times of India. Retrieved 2016-05-17.
  14. ↑ www.ETAuto.com. "Cardekho.com ties up with Coverfox to offer insurance | ET Auto". ETAuto.com. Retrieved 2016-05-17.
  15. ↑ India, Press Trust of. "CarDekho.com, FADA join hands to drive online auto sales". Retrieved 2016-05-17.
  16. ↑ www.ETtech.com. "CarDekho parent Girnar Soft buys Drishya360s Software to build VR & AR solutions for its portals | ETtech". ETtech.com. Retrieved 2016-05-17.
  17. ↑ "Forbes India Magazine - Girnar Software raises funding from Google Capital, Hillhouse Capital". forbesindia.com. Retrieved 2016-05-17.
  18. ↑ Poovanna, Sharan (2016-04-07). "CarDekho acquires Help On Wheels". http://www.livemint.com/. Retrieved 2016-05-17. External link in |website= (help)
  19. ↑ "CarDekho.com parent GirnarSoft acquires SaaS startup Connecto". timesofindia-economictimes. Retrieved 2016-05-17.
  20. ↑ "GirnarSoft makes strategic investment in Advanced Structures India". timesofindia-economictimes. Retrieved 2016-05-19.
  21. ↑ Standard, Business. "CarDekho acquires virtual reality startup Volob Technologies". Retrieved 2016-05-17.
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