Last year, a popular e-commerce portal Snapdeal, furniture e-tailer Urban Ladder and online jewelery seller BlueStone received major investments from the Tata Group. This time around one of the popular automotive portar in the country named CarDekho.com has received a fresh set of investments from the Tata group. The Jaipur based company GirnarSoft is well known as the parent company of CarDekho.com, BikeDekho.com, Gaadi.com and PriceDekho.com.
The automotive portal CarDekho.com is currently valued to be at about $300 million had received about $50 million as part of fresh financing from China based Hillhouse Capital, that also manages $14 billion in assets, Tybourne Capital and its existing investor venture fund Sequoia Capital. Speaking more on the occasion, Amit Jain, CEO and co-founder of CarDekho, said, "We are extremely excited to partner with him (Tata) considering his contribution to the growth and 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 a very aggressive plan for developing our business and boosting revenues in the future."
The portal reportedly has 10 million unique visitors everyday. Commenting further on the occasion, Anurag Jain, COO and co-founder, said, “We are focusing on strengthening the brand presence through various activities this year. We would also be looking at doubling our workforce by hiring 1,000 more people this year. Given that India is soon to become the third largest car market in the world, we are poised to create significant value for its shareholders."
