CarDekho – The Untold Story: Before the development of Technology and the Internet in India, it was very difficult for an individual to get the correct and proper data for comparing before buying the vehicle. But today we have a lot of online platforms to select our vehicle more effectively and efficiently. One such portal is CarDekho.com
CarDekho – Company Highlights
|Founders||Amit Jain, Anurag Jain|
|Parent Organization||Girnar Software Private Limited|
- 1 About CarDekho:
- 2 CarDekho – Vision & Mission:
- 3 CarDekho – Product & Services:
- 4 Story of CarDekho:
- 5 CarDekho – Subsidiaries and Acquisitions:
- 6 CarDekho – Funding, and Investors:
- 7 CarDekho Valuation:
- 8 CarDekho Business Model & Revenue Model:
- 9 CarDekho Awards:
- 10 CarDekho Competitors:
- 11 CarDekho Growth/Revenue
CarDekho.com (Official Site) is one of India’s largest car search platform that helps the users to select the best car for them. Its website provides expert reviews, prices, comparisons including videos and pictures for all the car brands available in India.
It has also tied up with more than 4000 auto dealers, manufacturers and numerous financial institutions to facilitate the purchase of vehicles.
The company expanded its services by entering into Southeast Asia by launching zigwheels.ph, zigwheels.my, and Oto.com. Further, it has also present in UAE with Zigwheels.ae.
CarDekho – Vision & Mission:
The main vision of CarDekho is to provide a complete ecosystem for car manufacturers, dealers, consumers so that user can have complete access to the website for not only buying and selling the product but can also manage their own ownership experience which may be accessories, batteries, insurance, and roadside assistance.
CarDekho – Product & Services:
CarDekho.com has also come up with the innovative features for users to give them an experience of the car model before they visit the dealer showroom. This feature provides a 360-degree interior and exterior view with sounds of the car and explanations of the features.
The users can also upload their cars for sale in the classifieds section and can also search for used cars for purchasing from the individuals and the dealers.
Apart from the above features, the company also provides technology-enabled tools for manufacturers and the dealers which include apps for dealer sales executives, cloud services for tracking sales, performance, digital marketing support, a virtual online showroom for taking consumers from inquiry to the final purchase of the vehicle.
The company also ventured into car insurance business under the name of InsuranceDekho.Com
Story of CarDekho:
Amit Jain and Anurag Jain completed their graduation from the Indian Institute of Technology (IIT- Delhi) and worked in a corporate world with TCS and Trilogy for almost 8 years where Amit developed an interest for products and the technology. So later they both left their jobs and went to their hometown. They wanted to start their own business instead of looking into their family jewelry business. Initially, Amit wanted to start an online jewelry business but due to the ground realities of the business, he was forced to come back. The duo then thought of doing the best that they could and started an IT consulting company under the name of GirnarSoft, an IT outsourcing company.
Initially, they started the company from their house itself where they started sending emails to companies for the work. But if things were so easy, everyone can become a billionaire. Hence, the duo started by sending emails in expectations of bagging big clients for the IT services that they can provide for.
After sending a lot of emails and calls, they finally got their first client! Though they offered just Rs 50 thousand which was far low for their services, they accepted and provided the services. Going forward they got multiple clients and hired their first employee in 2017 and within a year’s time, their employees reached around 40 and they could gain enough capital to start their dream project. This was time they started CarDekho with their own capital.
Also Read: BYJU’s – The Untold Story
So before starting CarDekho, a lot of planning and thinking went behind it but what convinced them was when Amit visited the international Auto Expo. Though they launched Car-Dekho, they continued IT services simultaneously for generating the revenue. After this, there was no looking back!
CarDekho – Subsidiaries and Acquisitions:
Till now, CarDekho has made three acquisitions and the most recent acquisition happened in 2019 when acquired Carmudi Philippines.
|Acquired Company||Company Description||Date of Acquisition||Price|
|Carmudi Philippines||Operates as a local automotive company based in the Philippines||November 2019||Undisclosed|
|Zig wheels||Zig wheels.com is India’s leading auto portal which offers a comprehensive range of latest news.||September 2015||Undisclosed|
|Gaadi web||Automotive portal for the Indian market with a search platform for new, used, and upcoming vehicles.||September 2014||$11Million|
CarDekho – Funding, and Investors:
To date, CarDekho has raised $247.5 million from 7 funding rounds, and below are the details of the investment. Car Dekho has raised $70million (Rs 500 crore) in series D of funding from Ping An Global Voyager Fund, a HongKong based investor.
|Ping An Global Voyager fund||December 2019||Series D||$70Million|
|CapitalG, Hillhouse, Capital Group, Sequoia Capital India||January 2019||Series C||$110 Million|
|Sequoia Capital India||March 2018||Series B||$2.5 Million|
|CapitalG||March 2016||Venture Round||–|
|HDFC Bank||May 2015||Venture Round||–|
|Hillhouse Capital Group, Bourne Capital||January 2015||Series B||$50 Million|
|Sequoia Capital India||November 2013||Series A||$15 Million|
After the company has raised funding from Ping An Global Voyager fund in December 2019, CarDekho did not reveal its valuation but people who are aware of the development said that the company is valued for more than $650 Million.
CarDekho Business Model & Revenue Model:
Since the launch of CarDekho, the revenue model has been simple and clear cut and till now, it has three sources of revenue,
- AdSense -The first is the most talked and well known i.e. revenue from AdSense
- Revenue from sponsored advertisements
- Commission from the manufacturers and the car dealers.
Though initial days were challenging and were a little slow for the company in later days, it gained the market and received some most prestigious awards.
|Year||Name of the Award|
|2009||“Best Automotive Website of the year”|
|2012||“Best Car Website”|
|2012||“Most Popular Website”|
|2011 &2012||“Website of the Year”|
The major competitors of CarDekho include CarWale, CARS24, CarTrade, Droom, Autoportal and Spinny.
In 2012, the company revealed that they have served more than 3.5 crore unique visitors and by the end of 2012, they covered unique visitors of 2.5 crores in a single year itself.
By 2014, their team has increased to over 600 employees. In the same year, they launched BikeDekho, PriceDekho, MobileDekho, and many more which we’re also doing a decent business.
In September 2014, when CarDekho acquired ibibo owned Gaadi.com, it has become a market leader in the automotive technology industry with more than 15million collective users monthly. It has also its first ios application, a month after android application which scored 1,00,000 downloads in just one month.
As per the recent news, CarDekho reported more than 62% growth in its revenue (Rs 260 crores) by the end of the financial year March 2019 which was the time when the auto industry was struggling.