GirnarSoft, the parent company of Cardekho and Bikedekho, has entered into a joint venture with Indonesian media and content firm Emtek to create a new car classifieds website called Oto.com. The deal was done through CarBay Private Limited (a subsidiary of Girnarsoft) and Kreatif Media Karya (KMK), the digital business arm Emtek.
Under this, Carbay will own 70% stake in the venture and KMK shall own 30%. Oto.com will act as an intermediary which will connect the consumers with the automobile manufacturers and dealers. It shall provide consumers with car and motorbike research sections providing information about prices, specifications, features, pictures, reviews and road tests of various models. The platform will also allow users to compare multiple models and shall provide the latest information with respect to new car/motorcycle launches, price changes and other relevant updates from the automobile industry.
CarBay is Girnarsoft’s auto portal in South Asia and Middle East. It had launched in Malaysia and Thailand in July 2015. The joint venture will be headed Mohit Yadav who functions as CEO of CarBay.
GirnarSoft funding & restructuring: In March, GirnarSoft raised an undisclosed amount of funding from Google Capital and participation from existing investor Hillhouse Capital. At the time, it said it would use the funds for technology, R&D and expansion within and outside India. The next month, the company laid off 60 people in a round of restructuring. GirnarSoft added that it would be increasing its staff size to 3,500 by the first quarter of 2016-17.
GirnarSoft’s recent investments & acquisitions: In July, the company acquihired PSU consultancy company Valueserve. In May, it acquired the 3D visualization startup Volob Technologies. In April, the company acquired software services startup Connecto as well as vehicle assistance company Help On Wheels. In the same month, it also invested an undisclosed amount in car testing firm Advanced Structures India.
Other websites launched
– Earlier this month, it launched BusesDekho, a website for trading passenger commercial vehicles.
– In May, CarDekho launched a new platform called TyreDekho, which would provide users with tyre-related research tools, reviews and other content. In the same month, it launched 3 websites in Hindi, Tamil and Telugu.
– In December 2015, GirnarSoft invested $1 million in Gurgaon based CollegeDekho, an online platform which lists college across streams in the country and offers test preparation material.