Amit Jain, the Chief Executive Officer (CEO) and co-founder of CarDekho, has replaced the former BharatPe founder Ashneer Grover. The show offered a platform to aspiring entrepreneurs who pitch their business models to a panel of investors or judges and persuade them to invest funds in their idea. The Shark Tank India season 1 was hosted by Rannvijay Singha.
Source- Shiksha News
The new Shark, Amit Jain is the co-founder and Chief Executive Officer of the popular website CarDekho. He hails from Jaipur and is an alumnus of IIT Delhi. . He worked for a while in Austin, Texas with a company and started his first startup there. In 2006, Amit and his brother Anurag left their jobs, and their entrepreneurial journey started in Jaipur shortly after that. The brothers founded GirnarSoft, a software outsourcing company with a big dream.
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, Amit and Anurag visited Auto Expo in New Delhi and came back with the concept for their new venture, CarDekho. Within 7 years, that is in 2013, CarDekho turned profitable and secured Series-A funding of 15 Million dollars. 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 catalog to 10,000 cars in the near future.
Source- Zee Business
About expanding his brand to other countries, he said, “We are in South East Asia now. Indonesia, Malaysia, Philippines are three we have already been doing business in. It’s been a good start.” Jain aims to make the car-buying experience even more hassle- free for users and turn CarDekho into one of the five biggest auto portals in the world. The brothers now want their business to meet a wider range of needs related to automotive lifestyles. Amit told Open Magazine, “We want the consumer to be with us through the entire ecosystem, from buying to maintaining a car.”
Apart from Amit Jain, there will be returning sharks Vineeta Singh of Sugar Cosmetics, Anupam Mittal of Shaadi.com, Peyush Bansal of Lenskart, Namita Thapar of Emcure Pharmaceuticals, and Aman Gupta of BoAt. The promo was recently dropped by the makers and the show will soon be telecast on Sony TV.
Read more: https://www.thenewshamster.com/7-unknown-facts-about-the-sharks/
