Auto Portal Cardekho acquired Gaadi.com for 11 million US dollar
Auto Portal Cardekho on 29 September 2014 acquired Gaadi.com.
Auto Portal Cardekho on 29 September 2014 acquired Gaadi.com. Cardekho is expected to have paid 11 million US dollar for Gaadi.com.
However, both the companies will continue to run independently and operate as separate businesses in order to drive focus, especially in the pre-owned car business.
The combined Cardekho and Gaadi entity is expected to become the largest online auto classifieds play by revenue and traffic.
The combined entity will compete with the rivals Cartrade.com and Carwale.com
Real estate, jobs and auto hold the biggest chunk of the online classifieds market in India. The online auto classifieds market in India is expected to see an uptick on the back of increased transactions of used cars.
Jaipur-based GirnarSoftware founded internet portals Cardekho, Bikedekho and Pricedekho in 2007.
The company had received 15 million US dollar in funds from Sequoia in November 2013. Amit Jain is the founder & CEO of Cardekho.
Gaadi.com is the arm of the Ibibo Group. With the deal, the company aimed to focus on the online travel sector across its assets: Goibibo.com, TBOGroup, Redbus.in and YourBus. The group also runs online marketplace Tradus in India.