Girnar Software Pvt Ltd, owners of auto portal CarDekho.com, and ibiboGroup have announced an agreement whereby GirnarSoft will acquire Gaadi.com, one of India’s leading auto portals, for an undisclosed amount.
With the combined volumes of CarDekho.com and Gaadi.com exceeding 15 million monthly visitors, this transaction positions GirnarSoft as the undisputed #1 player in auto search and lead generation business in India, as claimed by Girnar Software.
The company stated that CarDekho.com and Gaadi.com will continue to run independently and operate as separate businesses in order to drive deep focus. 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.
The core business model of CarDekho and Gaadi is 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.
Gaadi.com was founded in 2008. The company was acquired in 2011 by ibiboGroup during the early days of its evolution, and quickly became a leader in the used car segment online.
Speaking about the acquisition, Amit Jain, founder/CEO of GirnarSoft said, “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 with its OEM and dealer tie-ups. 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.”
