CarTrade.com

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CarTrade
TypePublic
ISININE290S01011
IndustryAutomotive
Founded2010
FounderVinay Sanghi
HeadquartersMumbai, Maharashtra, India
Area served
India
Key people
Vinay Sanghi
Rajan Mehra
Products
  • CarTrade
  • CarWale
  • BikeWale
  • Shriram Automall
  • Adroit Inspection
  • CarTradeExchange
  • AutoBiz
ServicesOnline auto classifieds
RevenueDecrease ₹281.5 crore (US$37 million) (FY 2021)[1]
Increase ₹101 crore (US$13 million) (FY 2021)[1]
Number of employees
1400+
Websitecartrade.com

CarTrade.com is an Indian online auto classifieds platform serving as a marketplace for users interested in buying and selling new and used vehicles.[2] Headquartered in Mumbai, the company also owns other vehicle trading platforms such as CarWale, BikeWale, CarTradeExchange and AutoBiz, the omnichannel marketplace Shriram Automall and the vehicle inspection company Adroit Inspection.

History[]

CarTrade.com was established in 2010 by Vinay Sanghi and Rajan Mehra.[3][2]

In November 2015, CarTrade acquired CarWale, an online classifieds portal, in an all-cash deal.[4] In May 2017, CarTrade acquired vehicle inspection and valuation venture Adroit Inspection in an all-cash deal.[5]

In January 2018, CarTrade acquired a 51% stake in Shriram Automall from Shriram Group. This acquisition made CarTrade India's largest online and physical marketplace for cars.[6]

In August 2021, CarTrade Tech Limited launched its initial public offering (IPO) and got listed on NSE and BSE.[7]

Services[]

CarTrade operates as a platform for business-to-business (B2B) and business-to-consumer (B2C) operations. The service is divided into two sets - CarTrade.com, the B2C portal where users can buy and sell new and used cars, and CarTradeExchange.com, the B2B dealer portal which allows dealers to manage their online auctions and sales.[8][2]

Other than the online marketplace, it has physical presence with a network of over 4,000 dealers across 80 cities in India.[9] The website currently lists over 1,65,000 certified used cars.[10][11]

Along with car listings, the portal also offers car price information, certification, insurance, used car finance, comparisons, on-road prices, and reviews. The used car certification program is jointly conducted by CarTrade engineers and sellers who inspect the initial condition of cars at different levels, and a detailed condition report is presented as part of the online listing. CarTrade also provides similar services for bikes (new and used) on Bikewale portal.[3]

Promoters[]

CarTrade.com is promoted by its founder and CEO, Vinay Sanghi, who is the former CEO of Mahindra First Choice. Rajan Mehra, an Ex-MD at Nirvana Venture Advisors and former country Head of eBay India is also a founder-director in CarTrade. It has received funding from various investors like Canaan Partners, Epiphany Overseas Ventures, Tiger Global, Temasek, March Capital, Austin Ligon, and Warburg Pincus.[12][13][14]

See also[]

References[]

  1. ^ a b Sonavane, Ravindra N. (3 August 2021). "CarTrade fixes IPO price band at ₹1585-1618 per share". Mint. Retrieved 12 November 2021.
  2. ^ a b c Das, Sohini (20 January 2014), "Used-car market rides the technology wave", cartrade.com/, retrieved 11 May 2016
  3. ^ a b "About Us", cartrade.com, retrieved 11 May 2016
  4. ^ "CarTrade acquires rival CarWale". The Times of India. Retrieved 24 November 2015.
  5. ^ "CarTrade acquires vehicle inspection Adroit Inspection". The Economic Times. 4 May 2017. Retrieved 11 August 2017.
  6. ^ Thakkar, Ketan (25 January 2018). "CarTrade acquires 51 per cent in Shriram Automall to create India's largest online vehicle transaction platform". The Economic Times. Retrieved 2 June 2021.
  7. ^ "No IPO magic for CarTrade, loses 7.3% on debut day and currently traded around 650. 60% lower from issue orice". The Economic Times. Retrieved 27 August 2021.
  8. ^ "Cartrade.com plans to launch multiple products on mobile platform". Retrieved 3 November 2014.
  9. ^ "Top 10 E-com Players In India 2015". Retrieved 4 December 2013.
  10. ^ "Cartrade com showcases its wide choice of used cars through its latest". Retrieved 25 June 2015.
  11. ^ Mohile, Shally (28 October 2014), "Pre-owned luxury cars gain traction among buyers", Mint, retrieved 11 May 2016
  12. ^ "CarTrade.com raises $30M from Warburg Pincus, Canaan & Tiger Global". VC Circle. Retrieved 13 October 2014.
  13. ^ "CarTrade to venture into used-car financing". The Economic Times. 11 April 2016.
  14. ^ "Singapore's Temasek, March Capital lead Rs 950-crore investment in CarTrade". The Economic Times. 11 April 2016.

External links[]

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