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Mergers & Acquisitions | 29 April 2015

Auto Classifieds Portal CarDekho Acquires BuyingIQ.com

by Ahemad Shaikh
Auto Classifieds Portal CarDekho Acquires BuyingIQ.com
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CarDekho, an online auto classified’s portal has announced the acquisition of BuyingIQ.com, a price comparison portal and shopping engine, for an undisclosed amount.

Founded in 2012 by IITian PiyushTaneja and BITS Pilani graduate Saumitra Purohit and recently joined by Avinash Kumar, BuyingIQ .com, operated by BuyingIQ Online Services Pvt Ltd, offers price comparison services on its portal. The company focuses exclusively on electronics and presently working with almost all the e-commerce majors including Flipkart, Snapdeal, Ebay and Amazon and monetizing its data and content capabilities by partnering with some of the key ecommerce and online classifieds companies in India.

Using BuyingIQ.com, a user gets a BuyingIQ Score on products they’re interested to buy. The scoring system, analyses millions of product over the Internet to put forward. Currently, it serves over 1.2 Million users every month via its website and android app and will continue to operate as an independent portal.

CarDekho.com is a flagship portal of Girnar Software Pvt. Ltd. founded in 2008 by Amit Jain and Anurag Jain. It is currently drawing close to 11 million visits per month with 7.5 million unique visitors per month. The company recently acquired another automotive portal Gaadi.com to add to its used car portfolio. It also runs other portals such as BikeDekho.com and PriceDekho.com.

Recently CarDekho brought onboard Tata Sons Chairman Emeritus, Ratan Tata.

The online auto classifieds market in India is expected to grow to around $100 Mn in the next four to five years with it covering a majority of the online ad spends which is just $30-50 Mn, of which just 10% is spent on online classifieds sites.

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