With the combined volumes of CarDekho.com and Gaadi.com exceeding 15 million monthly visitors, this transaction positions GirnarSoft as the #1 player in auto search and lead generation business in India.
The company stated that CarDekho.com and Gaadi.com will continue to run independently and operate as separate businesses. While management teams of each of these entities will continue to build their businesses, GirnarSoft will look to create cross-synergies in product development for consumers and dealers, as well as in back-end operating systems.
Gaadi.com was founded in 2008 and it was acquired in 2011 by the ibiboGroup during the early days of its evolution, and quickly became a leader in the used car segment online.
According to Amit Jain, founder/CEO of GirnarSoft, Bringing Cardekho.com and Gaadi.com together creates outright market leadership for us in online auto in terms of visitors, dealer base and revenue. CarDekho.com is already #1 in the new car segment, and growing rapidly. The used car strength that Gaadi.com brings to the stable means that we will now be able to offer unparalleled products, services and support to all stakeholders, be it consumers, OEM manufacturers and new and used car dealers.
Speaking on this occasion, Umang Kumar, co-founder/CEO Gaadi.com said, This is a great outcome for all stakeholders - IbiboGroup, Gaadi employees and CarDekho. Gaadi.com grew 10x in 3.5 years as a part of IbiboGroup and together with CarDekho we can scale our leadership in the used car business even faster. I had a good time at Ibibo, and hope to have an even better time with CarDekho!
The core business model of CarDekho and Gaadi involves earnings from lead generation for new and used cars, and media sales on their portals. The two put together boast of more than 2,500 car dealer tie-ups across the country, the largest among auto portals. Besides these, CarDekho helps retail over 4,000 cars per month for eight OEM manufacturers that it partners with.
Ashish Kashyap, CEO of ibiboGroup says, ibiboGroup wants to focus on online travel sector across its assets: Goibibo.com, TBOGroup, redBus.in and YourBus. ibibo has significant leadership and scale in each of these businesses and would want to further expand in this sector.