Buying a car used to be very difficult before the internet emerged because the industry was just too scattered. Today we have a lot of online portals that will take you through the process effortlessly. One such portal is CarDekho.
Founded by Amit Jain and Anurag Jain in 2008, CarDekho is a prominent car search venture that helps users find fitting new and old car variants and buy them without any hassles.
CarDekho - Company Highlights
CarDekho - About the Company CarDekho is the product of ‘GirnarSoft’ owned by the founder duo, Amit and Anurag Jain. CarDekho is a web app that has almost anything and everything about an automobile. Both the app and the CarDekho.com website boast rich automotive content including but not limited to expert reviews, detailed specs, and prices of cars, comparisons of cars, pictures, and videos of an exhausting range of car brands and models available in India.
CarDekho not only lists vehicles for trade but also offers users a platform for buying and selling used cars. Furthermore, the company also provides dynamic services including insights about the automobile industry, fresh updates, car images and videos, car features, recent launches, prices, or other car specifications in layman's language so that people at home can understandWhile browsing through their website, the consumer comes across various categories like new launches, upcoming vehicles, and used vehicles, to name only a few.
This is not it.
CarDekho also has its own e-store. This e-store portrays and sells a wide array of automobile accessories such as stickers, floor mats, scratch removers, polish, mobile chargers, shampoo, navigators, seat covers, tires, alloy wheels, car stereos, car perfumes, sun films, and many more.Apart from the services offered relating to the automobile industry, the company also offers various financial services to aid customers, like instant car loans and car insurance schemes. These financial services are presented by CarDekho in association with BankBazaar.com and Berkshire Insurance respectively.CarDekho has an automotive forum on its website where experts and reviewers that are working with the company answer and resolve car-related queries that are posted on the forum.
To cut the long story short, CarDekho is more or less like a virtual car dealer, which is technically sound, updated, and most importantly, provides an effortless 360-degree experience to its customers.
CarDekho - Startup Story | How was CarDekho Started?
started when due to some personal reasons, these brothers left their jobs and came back to their hometown. And instead of getting into their family business, this duo thought of starting their enterprise. Eventually, the founder duo concluded doing what they were best at. And this led them to launch GirnarSoft, an IT outsourcing company.
They started by shooting emails to get bigger clients on board. But obviously, this was a tedious task and tested their perseverance. And after shooting billions of emails and making thousands of calls, they finally got on board their first client! Though this project didn’t pay them that much, it led to another project and building a chain of references. Following this, they started hiring and accumulating funds to start their project, and thus, CarDekho was born.
CarDekho - Startup Launch
A lot of thought and conceptualizing went into building CarDekho after its launch. Even though the company had been launched, they kept their IT consultancy services ongoing because the founders wanted the primary income to keep flowing. CarDekho is one of those companies that take the consumer through the whole process, from the start to the end and during the process, to make sure that the customer is satisfied.
Like all the other entrepreneurial ventures, this company too was a little slow in the beginning, but when it geared up the pace, the founders never looked back. And soon enough, its numbers did the talking when they roared success out loud to the world.
CarDekho - USP and Innovation
CarDekho.com has launched many innovative features to ensure that users get an immersive experience of the car model before visiting a dealer showroom. These include a Feel The Car tool that gives 360-degree interior/exterior views with the sounds of the car and explanations of features with videos. It also offers features for searching and comparing cars by the makes, models, prices, features, and more. Furthermore, it also provides live offers and promotions in all cities.
The platform also has used car classifieds wherein users can upload their cars for sale, and find used cars for buying from individuals and used car dealers.Along with the above consumer product features, CarDekho.com provides a rich array of tech-enabled tools to OE manufacturers and car dealers. These include apps for dealer sales executives to manage leads, cloud services for tracking sales performance, call tracker solutions, digital marketing support, a virtual online showroom, and outsourced lead management operational processes for taking consumers from inquiry to sale.
CarDekho - Mission and Vision
CarDekho's mission is to digitize the auto ecosystem and make the vehicle ownership journey easy for customers. CarDekho envisions to become the largest personal mobility player in the Indian market
CarDekho launched Rupyy
CarDekho has announced the launch of Rupyy, which will serve as a specialised financial services platform on April 26, 2022. This new platform will offer a whole new horizon of financing alternatives to the customers and retailers of automobiles. With the birth of Rupyy, CarDekho aims to empower customers with easy and convenient methods to apply for and receive approval for their auto-financing requirements. According to the CarDekho statement, Rupyy is an end-to-end digital platform that is designed to make the loan journey smooth and hassle-free for customers.
Rupyy will work via a QR code-based onboarding process at vehicle dealerships and loan companies. This QR code-based process will guide the customers with a self-help path running video KYC, e-NACH, and e-Agreement technologies, which will help them approve their loans right at the point of sale within a few minutes
CarDekho Revenue Breakdown
The used-car selling platform purchases cars from the users of CarDekho and then sells them to car dealers across the country earning revenues. This revenue vertical showed a 67.4% growth in FY21, bringing around Rs 489 crore in revenues for the company from Rs 292 cr in FY20. Here's the complete revenue breakdown of CarDekho below and its comparison with the previous fiscal:
CarDekho - CompetitorsOther online marketplaces in India that deal with and cater to the same set of the target audience are:
:Droom
:Quikr
:Olx
:Cars24
:Mahindra First Choice Wheels
CarDekho - Awards
Some of the noteworthy awards that CarDekho received in its early days were:
Best Automotive Website of 2009
Best Car Website of 2012
Most Popular Website of 2012
Website of the Year India 2011 & 2012
What is CarDekho Revenue Model?
The primary mediums through which CarDekho earns its revenue are:
AdSense
Sponsored Advertisements
Commissions from the manufacturers and dealers
Affiliate marketing
Lead generation
Car insurances
How much funding has CarDekho raised?
So far, CarDekho has raised a total of $497.5 million spread across 9 funding round
Amit Jain CEO Of car dekho - The New Shark on Shark Tank India Season 2
Shark Tank India Season One turned out to be a great success for numerous startups as well as the sharks. The show’s second season trailer is out, and Amit Jain can be seen as a new shark on the show. Amit has replaced the previous season's most prominent shark, Ashneer Grover.
Amit is super thrilled to be a part of the show. While expressing his excitement, he wrote on his LinkedIn, "Looking forward to mentor budding entrepreneurs on the show to build a new India."
Being a judge on one of the most popular shows among Indian audiences will undoubtedly add to Amit's success.
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