CarDekho is an online platform that was launched in 2008 to help car buyers and sellers in India make informed decisions. It is one of the largest car portals in India, providing a comprehensive range of information related to cars, including reviews, pricing, comparisons, and news. CarDekho offers services to both buyers and sellers, making it a one-stop destination for car enthusiasts.
CarDekho is headquartered in Jaipur, India, and has a strong presence across the country with offices in major cities like Delhi, Mumbai, and Bangalore. The company has a team of over 2000 employees who work towards providing a seamless and hassle-free car buying experience to customers.
The platform offers a wide range of services, including car research, car comparisons, car reviews, and news related to the automobile industry. CarDekho also offers a unique feature called “Droom History,” which provides the history of a used car, including ownership details, accidents, and service history, among other things.
CarDekho has tie-ups with various leading car manufacturers in India, including Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Honda, and Toyota. These partnerships enable CarDekho to offer exclusive deals and discounts on new cars, making it a popular choice among car buyers in India.
In addition to its website, CarDekho also has a mobile app that offers similar services to its users. The app has a user-friendly interface and is available for both Android and iOS devices.
Overall, CarDekho has emerged as a trusted and reliable platform for car buyers and sellers in India, providing them with comprehensive information and services related to cars.
Founding History of CarDekho
CarDekho was founded in 2008 by brothers Amit Jain and Anurag Jain. The brothers had a passion for cars and identified a gap in the Indian market for a platform that provided comprehensive information on cars to help buyers make informed decisions. At the time, there were very few resources available for car buyers in India, and the brothers saw an opportunity to fill this gap.
The journey of CarDekho began in Jaipur, Rajasthan, where the brothers started their company with just a few employees. They launched their website with a database of car models available in India, along with their specifications and features. The website quickly gained popularity, and the brothers realized that they were on to something big.
In the early years, CarDekho focused on building a strong team and expanding its services. The company invested heavily in technology and created innovative features like car comparisons and reviews. CarDekho also partnered with leading car manufacturers in India to provide exclusive deals and discounts to its customers.
Over the years, CarDekho continued to grow and expand its services. In 2013, the company launched Gaadi.com, a platform for selling used cars. In 2015, CarDekho acquired ZigWheels.com, another popular car portal in India, to strengthen its position in the market. In 2018, the company raised $110 million in a funding round led by Sequoia Capital and Hillhouse Capital, among others.
Today, CarDekho is one of the largest car portals in India, with a presence in over 800 cities across the country. It is considered a pioneer in the Indian automotive industry and continues to innovate and provide value to its customers.
Business Model of CarDekho
CarDekho’s business model is primarily based on providing a platform for car buyers and sellers to connect. The company operates as an online marketplace, where users can research, compare, and buy new and used cars. CarDekho generates revenue through various sources, including:
Advertising: CarDekho offers various advertising options for car manufacturers and dealerships to promote their products and services. The company charges for display ads, banners, and sponsored content on its website and mobile app.
Lead generation: CarDekho generates leads for car dealerships and manufacturers by connecting them with potential buyers. The company charges a fee for each lead generated, which is based on the buyer’s interest and budget.
Subscription model: CarDekho offers a premium subscription model called “CarDekho Plus,” which provides additional benefits to its users, such as exclusive discounts, free insurance, and extended warranties. The company charges a fee for this service, which is renewable on an annual basis.
Affiliate marketing: CarDekho partners with various third-party companies to promote their products and services related to cars, such as car accessories, insurance, and finance. The company earns a commission for each sale made through its affiliate links.
Data analytics: CarDekho collects and analyzes data related to the Indian automotive industry, such as sales trends, consumer behavior, and market insights. The company offers this data to car manufacturers, dealerships, and other businesses for a fee.
Overall, CarDekho’s business model is centered around providing a comprehensive platform for car buyers and sellers, along with additional value-added services. The company leverages its vast network and data insights to generate revenue through various channels, making it a leading player in the Indian automotive industry.
Marketing Strategies of CarDekho
CarDekho employs a wide range of marketing strategies to promote its brand and services, including:
Search Engine Optimization (SEO): CarDekho focuses heavily on optimizing its website and content for search engines like Google. The company uses targeted keywords, meta descriptions, and backlinks to ensure its website appears at the top of search engine results pages (SERPs) for relevant keywords.
Content Marketing: CarDekho creates high-quality content, such as car reviews, comparisons, and news articles, to engage with its audience and attract new users to its platform. The company also shares its content on social media platforms like Facebook and Twitter to reach a wider audience.
Social Media Marketing: CarDekho has a strong presence on social media platforms like Facebook, Twitter, Instagram, and YouTube. The company uses these platforms to share its content, promote its services, and engage with its audience.
Influencer Marketing: CarDekho partners with social media influencers and celebrities to promote its brand and services. The company has collaborated with popular Indian celebrities like Akshay Kumar to reach a wider audience.
Event Marketing: CarDekho participates in various automobile exhibitions and events to promote its brand and services. The company also organizes its own events, such as “The Great Indian Car Mela,” to showcase its products and services to potential customers.
Partnerships: CarDekho partners with various car manufacturers and dealerships to offer exclusive deals and discounts to its users. The company also partners with other businesses, such as insurance providers and financial institutions, to offer additional services to its users.
Overall, CarDekho’s marketing strategies are aimed at reaching a wider audience, promoting its brand and services, and engaging with its users. The company leverages various channels, including search engines, social media, influencers, events, and partnerships, to achieve its marketing goals.
Revenue and Growth of CarDekho
CarDekho has seen significant revenue growth over the years, driven by its strong presence in the Indian automotive industry and its innovative approach to online car sales. The company’s revenue streams include advertising, lead generation, subscription services, affiliate marketing, and data analytics.
In 2021, CarDekho raised $250 million in a series E funding round led by Sequoia Capital and Hillhouse Capital, among others. This investment helped the company expand its operations and increase its revenue. According to reports, CarDekho’s revenue for the fiscal year 2019-2020 was around $65 million (INR 475 crores), with a growth rate of 25%.
One of the key factors driving CarDekho’s growth is its focus on providing a comprehensive platform for car buyers and sellers. The company offers a wide range of services, including research, reviews, comparisons, and news, making it a one-stop-shop for car-related information in India. CarDekho has also invested heavily in technology, creating innovative features like car comparisons and reviews to enhance its users’ experience.
In addition to its online platform, CarDekho has expanded its services to include offline operations, such as used car dealerships and car service centers. These offline operations have helped the company reach a wider audience and generate additional revenue.
CarDekho’s growth has not gone unnoticed, and the company has received numerous awards and accolades for its contributions to the Indian automotive industry. In 2020, CarDekho was named India’s most trusted online auto marketplace by the Brand Trust Report.
Overall, CarDekho’s revenue and growth have been impressive, and the company is expected to continue to expand its operations and services in the coming years. With its innovative approach to online car sales and strong presence in the Indian market, CarDekho is well-positioned to maintain its position as a leading player in the automotive industry.
Also Read: Droom- Business Model, Revenue, Growth & Funding
Funding and Investors of CarDekho
CarDekho has raised a total of $250 million in funding from various investors since its inception in 2008. Here is a brief overview of the funding rounds and investors:
Series A: In 2011, CarDekho raised $15 million in its first funding round led by Sequoia Capital India and co-investors like Omidyar Network and Lightspeed Venture Partners.
Series B: In 2015, CarDekho raised $50 million in a funding round led by Hillhouse Capital, Sequoia Capital India, and Norwest Venture Partners.
Series C: In 2019, CarDekho raised $110 million in a Series C funding round from existing investors Sequoia India, Hillhouse Capital, Alphabet’s growth investment arm Capital G and Axis Bank.
Series D: In 2019, CarDekho raised $70 million in Series D funding led by Ping An Global Voyager Fund, an investment arm of Chinese financial services behemoth Ping An.
Series E: In 2021, CarDekho raised $250 million — $200 million in equity and $50 million in debt — in its Series E financing round. The round, which valued the Jaipur-headquartered firm at $1.2 billion, was led by LeapFrog Investments.
Some of the notable investors in CarDekho include Sequoia Capital India, Hillhouse Capital, Tybourne Capital, CapitalG, Omidyar Network, Lightspeed Venture Partners, Ratan Tata, and HDFC Bank.
The funds raised by CarDekho have been used to expand its operations, invest in technology, and enter new business segments. With the support of its investors, CarDekho has become a leading player in the Indian automotive industry, offering a comprehensive platform for car buyers and sellers. The company’s success is a testament to the value it brings to its customers and the potential for innovation in the automotive industry.
Future of CarDekho
CarDekho is an Indian online car marketplace that provides a platform for buying and selling new and used cars, as well as other automotive services such as insurance, financing, and car reviews. The future of CarDekho looks promising, with several factors contributing to its potential growth and success:
Increasing demand for online car marketplaces: With the growth of e-commerce and the increasing use of the internet for shopping, more and more people are turning to online car marketplaces like CarDekho to buy and sell cars.
Rising car ownership rates: As more people in India become economically stable, there is a growing demand for cars, which translates into more potential customers for CarDekho.
Expansion into new markets: CarDekho has already expanded its operations to several other countries, including Indonesia, Malaysia, and the Philippines, and is likely to continue expanding into new markets in the future.
Diversification of services: CarDekho has already diversified its services to include insurance, financing, and other related services, and is likely to continue expanding its offerings to provide a one-stop-shop for all car-related needs.
Technological advancements: CarDekho has already started using AI and machine learning to enhance its platform and provide a more personalized experience for users. This trend is likely to continue as technology continues to advance, leading to further growth and success for CarDekho.
Overall, the future of CarDekho looks bright, with a strong potential for growth and expansion. As the demand for cars and online car marketplaces continues to rise, CarDekho is well-positioned to capitalize on these trends and become a leader in the industry.
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