CarDekho FY16 net sales zoom, but losses triple

CarDekhoJaipur-based Girnar Software Pvt Ltd, which owns auto classifieds portals like CarDekho, ZigWheels and Gaadi.com, saw its FY16 sales rise a strong 75 percent, but losses almost tripled as the company spent significantly more on brand marketing. Net sales for FY16 stood at Rs 82.48 crore, up from previous year’s Rs 47.03 crore, filings with […]

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Used-car marketplace GoZoomo shuts shop, returns remaining capital to investors

Arnav Kumar, CEO, GoZoomoYoungmonk Technologies Pvt. Ltd, which runs online marketplace for pre-owned cars GoZoomo, has decided to shut down operations as the founders failed to carve out a business model with sustainable unit economics. Confirming the development, CEO Arnav Kumar said the company has decided to return the remaining capital to their investors. Upon asked how much […]

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Pre-owned car marketplace HopCar merges with Spinny

cars-by-junaidOnline pre-owned automobile marketplace HopCar has merged its operations with bigger rival Spinny. The merged entity will continue to operate under Spinny’s brand name with the four co-founders of HopCar becoming core team members at Spinny. The merger allows Delhi-based Spinny to further strengthen its position in the Delhi-NCR region and bring greater efficiency to […]

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Droom raises Series B funding from Beenext, Digital Garage and others

droomOnline marketplace for used automobiles Droom has raised an undisclosed amount in its Series B funding round from investors led by venture capital fund Beenext and Japanese internet company Digital Garage. Lightbox, Beenos and other existing investors also participated in this round. Teruhide Sato, founder and former CEO of Japanese e-commerce company and investor firm […]

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Auto classifieds portal CarTrade buys rival CarWale

Automobile classifieds portal CarTrade has acquired rival CarWale for an undisclosed amount, the third takeover deal in the segment in little more than a year. German media conglomerate Axel Springer sold its 91.3 per cent stake in CarWale, owned by Automotive Exchange Pvt Ltd, to Car Trade Pvt Ltd as part of the transaction. “Through […]

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