MAM

CarDekho.com raises $50 million in funding led by Hillhouse Capital

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/mam-images/2015/01/28/CarDekho_logo.jpg?itok=ooiQtLpG

MUMBAI: CarDekho.com has closed its second round of funding and has raised $50 million. The funding was led by Hillhouse Capital with participation from Tybourne Capital and Sequoia Capital.



The single transaction funding was concluded early this week. Elara Capital acted as the exclusive financial advisor to the transaction. With this the parent company Girnar Software is now valued at $300 million.



Sharing plans about this venture GirnarSoft CEO and co-founder Amit Jain believes that together CarDekho.com and Gaadi.com are by far the largest players in online auto classifieds space by revenue and traffic in the country. Jain?s vision is to be company with global footprint through its innovative products and services.



?This is the largest quantum of fund raise in this segment in India so far. We see the second round of investment as an endorsement of our strategy and progress so far. Our revenues have grown three-fold since 2013 when we received our first round of funding from Sequoia, and we are doubling our lead generation Y-O-Y. This is the time we are looking to rapidly expand our business and therefore the funding adds to our fast paced growth in the online auto portal segment,? added Jain.



Jain feels that this is a very exciting time for the company and a high point in the Indian automobile industry.



?With this funding we have plans to enhance the technology and services of CarDekho.com along with increased focus on brand building and marketing initiatives of the company. As the #1 auto portal of the country, it is also our responsibility to develop the category by providing the best offerings to consumers, best services for dealers and top notch support to OEM manufacturers,? said Jain.



Commenting on the investment, partner of Hillhouse Capital David Rhee stated that it observes a tremendous growth opportunities in the online automobile classified market in India. ?CarDekho, as the clear leading player in this space, is the best positioned to take advantage of this market. We are in the early stages of the development of the auto industry and its transition to online. We are excited to be partnering with such an exceptional management team to continue to build and grow this business over the long term,? Rhee said.



Tybourne Capital portfolio manager Eashwar Krishnan added, ?We have a substantial amount of capital invested across global classified assets and are excited to add CarDekho to our portfolio. We view CarDekho as a direct comparable to Autohome in China (another Tybourne investment), and as the leader in the space, we expect CarDekho to capture a substantial portion of the auto classifieds market in India. We look forward to partnering with the management team as the company moves into its next phase of growth.?



Sequoia Capital partner Shailesh Lakhani said, ?CarDekho has redefined the purchase experience for car buyers in India. Led by Amit and Anurag, the company has assembled one of the best internet teams in India. We are excited to welcome Hillhouse and Tybourne as new investors to CarDekho and their support as we continue the journey to building a large internet auto company.?

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/kosh.jpg?itok=QxXcsMbN
KOSH Oats launches Roti Donation Drive on World Food Day

KOSH Oats by Future Consumers announces ‘Roti Donation Drive’ a special initiative which starts on World Food Day.

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/Truecaller.jpg?itok=GJpRMARf
Truecaller shows it is more than just a caller ID & spam detection app

Truecaller has launched its new television and digitally focused advertising campaign with the tagline ‘Sab ke liye’ meaning both ‘for everyone’ and ‘for everything’. The ad campaign is aimed to create awareness among the audience about the recent features introduced on the app apart from Caller ID...

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/birla.jpg?itok=ZSHorrmj
Birla Gold & BBH team up for another power pact film

Birla Gold, the cement brand of the B.K. Birla Group of Industries launched its new ad campaign marking the beginning of the latest Pro Kabaddi League season and commemorating its association with Patna Pirates, three-time winning champions.

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/fbb.jpg?itok=8qWOjTIx
fbb launches its festive collection at Mumbai Airport

The season for shopping has begun and people all over the country have increased their spending budgets to ensure they look their best this season.

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/kansai.jpg?itok=bLHO7bPV
Kansai Nerolac reconstitutes its iconic 'Ghar Ki Raunak' jingle into a song

Kansai Nerolac Paints Ltd. (KNPL), one of the leading paint companies in India and pioneers of ‘Healthy Home Paints’ has recently teamed up with popular Indian music director, Pritam’s musical platform JAM8 to roll out a rendition to Nerolac’s iconic jingle as a song, across India.

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/air.jpg?itok=kjY89OT1
Air Canada Brings Global ‘Fly the Flag’ Initiative Celebrating Equality, Inclusivity and Diversity to India

Air Canada, Canada's largest domestic and international airline, has been strengthening connections between India and Canada since 2015 with three new direct routes introduced in less than two years. To celebrate people making a mark in India, Air Canada is bringing its global ‘Fly the Flag’...

MAM Marketing Below The Line
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/12/tanishq.jpg?itok=O6GUdMmH
Tanishq launches new campaign for Diwali

Jewellery brand, Tanishq has introduced an exquisite collection - Utsava – an enchanting range that showcases the rich culture and beauty of our country, encapsulating the true essence of the festival of lights.

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/12/carvaan.jpg?itok=KcaOlPoM
Saregama Caravan asks to ditch the 'Shor' this Diwali

Diwali is many things to us. Homecomings, get-togethers, celebrations, gifts, lights, sweets, and shared joy.

MAM Marketing MAM
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/13/wpp.jpg?itok=qPNuWY5E
The stage is set for WPP’s ‘Date with Data’ – a day-long data summit

Spearheaded by WPP India, alongside WPP’s Data Alliance, Date with Datais a day-long summit that showcases and discusses the impact of data.

MAM Marketing MAM

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories