New Delhi : The Chairman emeritus of Tata Group,
Ratan Tata has invested an undisclosed amount in his
personal capacity in auto portal CarDekho.com.
For the first time 100 billion dollars Tata conglomerate
has joined hands with an auto portal by investing in a
personal capacity, CarDekho.com said in a statement today.
Amit Jain, CEO and co-founder of GirnarSoft the company
that owns CarDekho, said Mr Tata will hold a minority stake
in the company.
Mr Tata has investment in many e-commerce companies in
his personal capacity, including Snapdeal and Urban Ladder.
Mr Jain, co-founded GirnarSoft, with his brother Anurag
Jain, who is the Chief Operating Officer of the company.
Both of them are alumni of IIT Delhi.
GirnarSoft recently raised US 50 million dollars funding
from investors, led by Hillhouse Capital. The company also
counts Tybourne Capital and Sequoia Capital among its
investors. After this fund-raising, GirnarSoft was valued at
300 million dollars.
CarDekho will invest heavily in marketing and brand
building exercises, besides boosting its sales force, Amit
Jain said.
The company plans to add 800 employees this year. It has
an existing employee base of about 1000.
Carwale.com and CarTrade.com are among the competitors
of CarDekho. Last year, CarDekho had acquired another auto
classified portal Gaadi.com. (Agencies)
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