CarDekho.com Acquires Zigwheels.com, closes investment from Times Internet
Zigwheels.com will operate independently as a separate business within the Girnar Software umbrella and will exploit platforms and resources within the Girnar Group.
Girnar Software Private Limited, which runs and owns auto portals CarDekho.com & Gaadi.com, has acquired Zigwheels.com, one of India’s key auto portals. Also, consequently, Times Internet is now an investor in Girnar Software, alongside Sequoia Capital, Hillhouse, Tybourne, Ratan Tata and HDFC Bank.
Zigwheels.com will operate independently as a separate business within the Girnar Software umbrella and will exploit platforms and resources within the Girnar Group.
Girnar Software Group’s automotive properties (CarDekho.com, Gaadi.com, Zigwheels.com, BikeDekho.com, TyreDekho.com) claims to mark close to 30 million monthly visitors.
“We see tremendous growth and value creation opportunities in the online auto industry in India and overseas,” said Satyan Gajwani, CEO of Times Internet.
This is Girnar Software’s second major acquisition. Last September, it acquired the Nasper Group-owned Gaadi.com, to become the leader in the digital used car segment and strengthen its management team. Girnar Software is also expanding aggressively across SE Asia, Africa, Middle East and South America to create the largest such business across emerging markets.
The Rainmaker Group (TRMG) acted as the exclusive financial advisor to Girnar Software for this transaction.
