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MUMBAI: Sequoia Capital-backed Cardekho has acquired Ibibo Group-owned Gaadi.com in the first big consolidation move in a fragmented online auto classifieds market. TOI had reported in its June 19 edition that Ibibo Group, the Indian unit of South African internet and media giant Naspers, was in talks to sell Gaadi to focus on its travel portfolio here, which includes Goibibo and Redbus.
The combined Cardekho and Gaadi entity is expected to become the largest online auto classifieds play by revenue and traffic, Amit Jain, founder & CEO of Cardekho, told TOI while confirming the development.
The combined Cardekho and Gaadi entity is expected to become the largest online auto classifieds play by revenue and traffic, Amit Jain, founder & CEO of Cardekho, told TOI while confirming the development.