We will make two overseas acquisitions in six months: CarDekho's Amit Jain
Auto portal CarDekho had a good run all through 2015 as it raised funding from investors such as Ratan Tata, Hillhouse and HDFC Bank. It also acquired Times Internet's Zigwheels for an undisclosed amount.
And that has only whetted its appetite for more.
"We are looking for M&A in the auto space. We are looking for good teams and good technology that can help evolve our business faster or add value to our consumer. We are looking for acquisitions in South-East Asia right now," says Amit Jain, co-founder and CEO of Girnar Software Pvt Ltd, the company behind CarDekho and other auto portals including BikeDekho, TruckDekho, and TyreDekho. "You should see at least two international acquisitions from us in the next six months. For domestic (buys) we are already in touch with a couple of startups."
The acquisitions will play an important role in Jain's long-term plans, as he nurtures a dream to build a $10-billion company.
"I'll be building a $10-billion company, that's my entrepreneurial vision. We will be building a multi-vertical and a global company that's what I'm looking forward to. My target is 2020-21 and I'm chasing a big number frankly," Jain says in this interview with Techcircle.in.
CarDekho.com which was founded by siblings Amit and Anurag Jain in 2008, clocks around 35 million visits monthly. It is an online marketplace for users to buy and sell used as well as new cars. For new cars, the portal offers content for research as well as dealers' contact information. The site also offers information on car insurance and finance.
CarDekho is also expanding aggressively in the foreign market under the CarBay brand. The product is live in Malaysia, Indonesia, the Philippines, Thailand and Vietnam. It will also look to replicate its new products in the international market.
"From the second half of this year we will start focusing on the Middle East and African regions. We have already launched a bike platform in Indonesia. You will see all the stuff including tyres, batteries in the foreign market," said Jain.