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CarDekho acquires Times Internet’s Zigwheels

zigwheels

Car portal CarDekho has acquired Times Internet* owned auto portal Zigwheels for an undisclosed amount, reports TOI. The company told TOI that the acquisition would help CarDekho to enhance its content. Zigwheels will operate as an independent entity under the group.

The report stated that Zigwheels saw an estimated 8 million monthly visits, while CarDekho saw around 25 million monthly visits, including traffic to Gaadi.com, which CarDekho acquired in September last year. While the financials of the deal were not disclosed, reports estimated the acquisition to be at $11 million. At that time, Amit Jain, founder & CEO of CarDekho had said that Gaadi would continue to operate independently and that the acquisition would enable CarDekho to focus on the pre-owned car business, which then accounted for 10% of its revenues.

CarBay for Malaysia and Thailand
In July, CarDekho launched CarBay, a portal which would provide information on cars in Malaysia and Thailand. The Thai site would also have a Thai language option and offer search by model, brand, price and let users choose between preowned and new cars.

CarDekho’s funding
In May this year, CarDekho raised an undisclosed amount of investment from HDFC Bank, a little over three months after raising Series B funding worth $50 million from Hillhouse Capital, Tybourne Capital, Sequoia and Ratan Tata. The partnership with HDFC Bank would also allow CarDekho’s users to buy a new or used car with possible financing from the bank. Previously, the company had also raised $15 million from Sequoia Capital for a reported 20% stake in 2013.

TyreDekho and Indic language sites
The same month, CarDekho launched a new platform called TyreDekho, which would provide users with tyre-related research tools, reviews and other content. This would include tyre listings for various cars and bikes sold in India, the information on tyre brands, products, features, pricing and dealers.

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CarDekho also launched 3 websites in Hindi, Tamil and Telugu languages. Instead of using the Google translate algorithm to translate into multiple languages, the company claimed that it built a new platform to translate all the content on its English site, because the site did not support a multi-lingual and multi-regional capability. The company said that it chose these three languages since they’re the most widely spoken in the country.

BuyingIQ acquisition
In April, CarDekho bought price comparison website BuyingIQ. Girnarsoft, which operates CarDekho, PriceDekho and BikeDekho, said at the time that they bought BuyingIQ for the team and its technology. BuyingIQ was quoted to run independently post the buyout with its entire team being brought on GirnarSoft’s board.

Competition:

– Last month, Classifieds site Quikr launched QuikrCars where users could search for and buy new and used cars, bikes and other vehicles like trucks by budget. The vertical displayed listings of sellers, popular cars near you, reviews and videos. The site is available in English, Hindi, Tamil, Telugu, Kannada, Malayalam, Marathi and Gujarati.

– In July, Bangalore-based GoZoomo (previously known as Zoomo) raised $5 million in funding from existing investor SAIF Partners. GoZoomo would use the funds to add to its operations, technology and leadership team. Currently present in Bangalore and Mumbai, the company said that it had launches pending in Delhi, Pune, Hyderabad and Chandigarh.

– In the same month, Prashan Agarwal, the former co-founder of online real estate services portal PropTiger, launched a peer-to-peer transaction marketplace called 19miles, for buying and selling used cars. The startup also secured a Rs 2.5 crore funding from an unnamed angel investor.

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– In February, CarTrade raised an undisclosed investment from Chip Perry, former founding chief executive of Auto Trader, the largest online auto classifieds company in the US, 3 months after it raised Rs 185 crore from Warburg Pincus, Tiger Global and Canaan Partners.

– Other players in this segment include Axel Springer’s CarWale and India.com’s Oncars.in. Classifieds site Quikr and Olx also competes with CarDekho as it features a used car listings section.

Bonus blast from the past read: Where Is the Times Group Going With ZigWheels.com?

*Disclosure: Times Internet is an advertiser with Medianama

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Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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