CarDekho plans to expand the footprint to Southeast Asia, operates in Indonesia under the brand name OTO
Sources told PTI that the Ratan Tata-backed company is looking at the Philippines, Malaysia, and some other Southeast Asian countries to expand CarDekho's footprint.
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Ratan Tata-backed CarDekho, the flagship portal of GirnarSoft, is chalking out plans to expand footprints to Southeast Asian countries in the future, sources said.
"At present, CarDekho is operating in Indonesia in the name of OTO, which has become the number one site for cars. We are trying to replicate our business and expand in other countries as well," sources told PTI.
"The company is looking at the Philippines, Malaysia and some other Southeast Asian countries to expand the footprint because of the very nature of the auto industry," the above quoted sources added.
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Co-founders of CarDekho - Anurag and Amit Jain.
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Meanwhile, Akansh Sinha, Co-founder of Gaadi.com, part of Girnarsoft, said the CarDekho group is expected to double its revenue to about Rs 700 crore during the current fiscal from Rs 360 crore last year.
CarDekho Gaadi store, a retail auction model for pre-owned cars, on Wednesday opened five stores as part of its plans to establish 200 Gaadi stores across India by 2020.
In January, CarDekho said that it has raised Series C funding of $110 million from Sequoia India, Hillhouse, CapitalG (Alphabet growth investment arm) and Axis Bank. The company then said that it will use the fresh funds to enhance focus on the used-car segment of the market and build a strong foundation in transaction services, including insurance, and financing.
Earlier this month, the Group also announced that it will hire 2,000 people in the ongoing fiscal to expand its business. The company, which currently employs over 2,800 people, said it will add positions in both tech and non-tech roles across various divisions throughout the country.
While 20 percent of the addition will be in mid-to-senior-level positions in various verticals of insurance, fintech, retail, and digital, 30 percent of the resources will be for tech division based out of Jaipur and Gurgaon.
Moreover, 50 percent of the recruitment will be for non-tech roles, primarily in B2B/channel sales operations in various cities, the company added.
(Edited by Evelyn Ratnakumar)
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