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CarDekho to open 50 offline stores in India

13Oct By PriyankaNo Comments

Automobile

CarDekho to open 50 offline stores in India

Jaipur, Oct 13th, 2020: Automobile portal CarDekho has decided to open 50 offline stores in the country within the next six months in view of rising demand for used cars, according to a senior company official. Amid the coronavirus pandemic, people are looking forward to using their own car instead of public transport and, therefore, the demand for used cars has increased, particularly in the segment of $3000 to $7000 (Rs 2-Rs 5 lakh), CarDekho Group Head (Trust Mark Stores) Sharad Jaiswal told PTI. He added that the company's first store ''CarDekho Gaadi Trust Mark'' was opened in New Delhi, and the firm is planning to open 50 such exclusive stores by March 2021 to sell used cars. He said the company plans to open 50 Trust Mark Exclusive stores and 200 Retail Touchpoints by marc...

CarDekho to offer ESOP scheme worth $3.5 mn

11Feb By PriyankaNo Comments

BUSINESS

CarDekho to offer ESOP scheme worth $3.5 mn

Automobile portal CarDekho said it will offer an ESOP cash-out scheme worth USD 3.5 million (over Rs 24 crore) to about 100 of its current and former employees. CarDekho will allow eligible employees (current and former) to cash out 50 per cent of their vested options under Girnarsoft group's ESOP Exercise and Secondary Sale Plan, a statement said. "The current discretionary ESOP cash-out scheme is valid for both existing employees who have served 2 years and former employees who have served 4 years in the company and held vested options as of 31st January 2020," it added. The cash-out, estimated to be worth USD 3.5 million, is the second one this financial year, it added. The first ESOP cash out was announced in April last year, where Jaipur-headquartered CarDekho had bought ...

5Dec By AdityaNo Comments

FUNDING

CarDekho Raises $70 Million Series D Funding

New Delhi, Dec. 5, 2019-- India's leading automobile selling platform CarDekho raises $70 million Series D in funding from China-based Ping An Insurance Group, Sequoia Capital and Hillhouse Capital. This is Ping An's first venture investment in India through its Ping An Global Voyager Fund. CarDekho Group, founded in 2008, is one of India's leading autotech companies. It has successfully digitized the auto ecosystem in India and is aggressively pursuing the vision to own the personal mobility space by helping customers across their entire car buying and ownership journey. CarDekho Group currently has operations in India, Indonesia, and Philippines and operates leading Indian auto sites such as CarDekho.com, Gaadi.com, ZigWheels.com, BikeDekho.com, InsuranceDekho.com, and Power...

CarDekho Buys Out Automotive Youtube Channel PowerDrift

17Aug By Gauri SinghNo Comments

ACQUISITION

CarDekho Buys Out Automotive Youtube Channel PowerDrift

Jaipur-based Girnar Software’s auto classified portals CarDekho.com has reportedly acquired PowerDrift Studios Pvt Ltd which is an Indian Automotive Youtube channel that operates content platform PowerDrift. The YouTube channel has over 1 million subscribers and offers video-based automotive content. With this acquisition, CarDekho has plans to move forward with the best in class video content. This will serve as a visual treat and decision making tool for all stakeholders. “These are exciting times. CarDekho has always innovated and focussed on providing the best user experience. Content plays an extremely important role in that. By bringing PowerDrift on board, I am convinced that this acquisition will prove to be a game-changer. I welcome each one from PowerDrift on-board and look f...

Online Firm Cars24 raises $50 Million For the Purpose of Expansion

18Jul By Gauri SinghNo Comments

FUNDING

Online Firm Cars24 raises $50 Million For the Purpose of Expansion

Online marketplace for the sale and purchase of second-hand cars ‘Cars24’ has raised funds amounting to $50 million (Rs 340 crore). The latest funding round was led by Sequoia Capital. The other existing investors that participated in the funding round were Cayman Islands-based Kingsway FCI Fund and Toronto-based KCK Global. After this round, the market valuation of the company is expected to reach around $250 million. The Gurugram based firm is planning to use these funds for the purpose of boosting up its expansion plans. Cars24 is based on an asset-heavy customer-to-business (C2B) model, in which it purchases used cars from individuals and dealers and sells them to other dealerships. Since its establishment in 2015, the company has sold around 1,00,000 cars. The founders of th...

24Feb By Sabhyata AgarwalNo Comments

Story

Inside Story: How Companies like CarWale, CarDekho generates Revenue?

Earlier it was simple, a person had a shop, he made money by selling its product or services. Now the process has changed, we are in a phase, where everything is online. Every brand and service has a website through which they contact their clients and carry out processes. In such quest, it becomes difficult to think that how a website generates revenue, if we talk about a non e-commerce website. If you want to start an online website that doesn't involve buying and selling of goods but have an alternate service to offer, you must have thought, "How do websites like Quikr, JustDial, Carwale, Cardekho and others that offer knowledge and services make money?" You must have googled it but were unable to find a dependable authority. So, in order to enlighten everyone we contacted a rel...

CarDekho.com Launched Battery Research and Discovery Portal ‘BatteryDekho.com’

28Jun By NitishNo Comments

News

CarDekho.com Launched Battery Research and Discovery Portal ‘BatteryDekho.com’

CarDekho.com, India's largest auto portal announced launch of automobile battery research and discovery portal, BatteryDekho.com to build a comprehensive ecosystem for vehicle ownership and making the battery discovery, research and selection process much more convenient for the Indian consumer. The development will allow CarDekho.com users to search and compare specification and pricing of batteries. The site has more than 250 batteries of top brands such as Amaron, Exide, SF Sonic, Tata Green and Base. Users can search for batteries that are compatible to 500 car and bike brands and contact their preferred dealers for free. CarDekho.com has partnered with more than 10,000 dealers in 200 cities to enable better search results and greater selection flexibility for its users. "After ...

18Apr By NitishNo Comments

FUNDING

CollegeDekho.com Has Raised USD 2 million in Pre-series A Funding

Technology start-up CollegeDekho.com today said it has raised USD 2 million in pre-series A funding from the London-based Man Capital. CollegeDekho.com deals in higher education and has a database of 22,000 colleges as it connects students to colleges. The funding will be used to build robust technology, ramp up the team, increase marketing activities and onboard more colleges, the company said in a statement. The investment comes four months after securing USD 1 million from GirnarSoft, the parent company of CarDekho.com. "We launched CollegeDekho.com with an aim to fundamentally change and improve the journey of college selection process for students," Ruchir Arora, founder and CEO, CollegeDekho.com, said. The company said its app has unique features like a step-by-step search to...

CarDekho Parent Company Girnar Software Bags Funding From Google Capital

21Mar By PriyankaNo Comments

News

CarDekho Parent Company Girnar Software Bags Funding From Google Capital

Underlining its status as one of India's leading Internet companies Girnar Software has topped auto portals like CarDekho.com, Gaadi.com and Zigwheels.com. The companies recently received an investment from Google Capital with participation from existing investor Hillhouse Capital. With CarDekho firmly placed as the clear leader in the area of new and used auto solutions in India, a major part of the new funding will be used to further bolster technology, Research and Development and expansion within and outside of India. Having launched its services beyond Indian borders with the launch of CarBay.com in Malaysia, Thailand, Vietnam, Philippines and Indonesia, Girnar Software will be looking to consolidate its presence in India as well as other emerging economies in Asia and the Middl...

14Sep By RishabhNo Comments

ACQUISITION

Acquisitions: CarDekho acquired Times Internet Owned Auto Portal Zigwheels

Setup back in 2008, Cardekho was founded by a team of four people as an initiative towards providing a quality information in a quality environment on one of the biggest assets that a person owns in his lifetime. Recently Ratan Tata backed that Cardekho.com is acquiring Times Internet owned auto portal Zigwheels. The details of the purchase are yet not disclosed. Cardekho’s CEO and Co-founder confirmed the news and said that “The acquisition of Zigwheels is a strategic step to enhance our content to be more rich and engaging so that we help car and bike buyers. Zigwheels will work as an independent entity within the organization.” After the acquisition of Goibibo’s Gaadi.com in September 2014 and BuyingIQ, a price comparison portal and shopping engine founded by IIT graduates, in April...

Ratan Tata will advise IDG Ventures India as a senior advisor

10Sep By No Comments

News

Ratan Tata will advise IDG Ventures India as a senior advisor

Ratan Tata has joined the advisory board of venture capital firm IDG Ventures India as a senior advisor, third such move by Tata Sons' chairman emeritus this year. IDG Ventures, which holds stakes in e-tailer Flipkart and online travel portal Yatra, has offices in Delhi and Bengaluru. Tata will be advising IDG Ventures India and portfolio entrepreneurs on its overall business strategy and growth, global expansion, team building and leadership. He will also be a special invitee, on selective basis, in portfolio company board meetings on strategic matters, said a statement. The venture capital firm, which completes ninth year of operations in India, has backed 50 companies from its funds committing over Rs 1,000 crore in the Indian early stage technology venture capital market. Other p...