Times Internet is now an investor in Girnar Software, which owns CarDekho.com.
Girnar Software, which owns auto portals CarDekho.com and Gaadi.com, has acquired Times Internet's Zigwheels.com. Consequently, Times Internet becomes an investor in Girnar Software now, 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 powerful cross-synergies with other platforms and resources within the Girnar Group.
The company claims to have a combined traffic of Girnar Software Group's automotive properties (CarDekho.com, Gaadi.com, Zigwheels.com, BikeDekho.com, TyreDekho.com) at close to 30 million monthly visitors.
According to Amit Jain, founder and CEO of Girnar Software, "Having been a part of India's leading and most respected media group, Zigwheels.com comes with a very strong content pedigree. This strategic acquisition reinforces our commitment to further enrich our content to enable us to engage even more deeply with our consumers. This also takes our market leadership to the next level in the digital auto vertical across visitors, dealer base and revenues."
This is Girnar Software's second major acquisition. Last September, it acquired the Nasper Group-owned Gaadi.com. The core business model of Girnar Software is earnings from lead generation for new and used cars, media sales on their portals, as well as monetising the life cycle of a car owner via CarBuddy app. The group boasts of more than 5,000 new and used car dealer tie-ups across the country, the largest among auto portals.
The Rainmaker Group (TRMG) acted as the exclusive financial advisor to Girnar Software for this transaction.