Amit Jain, the Chief Executive Officer (CEO) and co-founder of CarDekho, has replaced the former BharatPe founder Ashneer Grover.
All you need to know about Amit Jain
The new Shark, Amit Jain is from Jaipur and is an alumnus of the Indian Institute of Technology Delhi. Mr Jain did his schooling at Jaipur’s Saint Xavier’s School, according to his LinkedIn profile.
After his graduation, Mr Jain worked as a Software Engineer at Tata Consultancy Services (TCS). After his stint at TCS, he moved to a Texas-based software company called Trilogy as a Senior Associate in Austin.
In 2006, Mr Jain planned to create an IT outsourcing company in his hometown, Jaipur. Mr Jain and his brother Anurag Jain turned their garage into a makeshift office and launched GirnarSoft. A report by Startup Talky says that the duo hired a team of 20 people and the initial years of the company were profitable. But after a while, the company ran into losses and reportedly lost around 1 crore in stock.
In 2008, after Mr Jain and his brother attended Delhi’s Auto-Expo, the duo got the idea of launching CarDekho. In a LinkedIn post, Mr Jain wrote, “Our goal was to leverage technology and provide the best-in-class car buying or selling experience to the users. We set up a portal where people could come to find the right information and review cars before making the decision of buying.”
According to the company’s website, CarDekho Group exceeded the $100 million revenue run-rate in September 2021 with strong performance across business segments. The company is valued at $1.2 billion. The company will be expanding its Used Car retail transactions business geographically and is set to increase its catalogue to 10,000 cars in the near future. The company plans to expand across India with retail hubs that will focus on both used car buying and certified pre-owned car retail transactions with customers.
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