In the world of entrepreneurship, few stories are as inspiring and impactful as that of Amit Jain, the CEO, and Co-Founder of the CarDekho Group. With determination, innovation, and a dash of audacity, Amit, along with his brother Anurag, embarked on a remarkable journey that started in a humble home garage and has now catapulted them to the helm of a billion-dollar empire.
Back in 2006, the Jain brothers made a bold decision to leave their jobs and return to their roots in Jaipur, India. In the cosy confines of their small home garage, they laid the foundation for GirnarSoft, a software outsourcing company fueled by the lofty ambition of building a billion-dollar enterprise. This was just the beginning of their entrepreneurial odyssey.
After dedicating a year to GirnarSoft, the brothers found themselves at the 2008 Auto Expo in New Delhi, an event that would forever alter the trajectory of their business endeavours. Inspired by the possibilities they saw at the expo, the duo conceived the idea for CarDekho, a venture aimed at revolutionizing the automotive industry through technology.
Their vision was simple yet powerful: harness the capabilities of technology to provide users with the ultimate car buying and selling experience. CarDekho emerged as a portal where individuals could access comprehensive information and unbiased car reviews, empowering them to make informed decisions.
However, the road to success is often laden with challenges, and Amit and Anurag were no strangers to setbacks. Undeterred, they bootstrapped their way through seven challenging years, steering CarDekho towards profitability. Their perseverance paid off when, in 2013, they secured Series-A funding amounting to a substantial $15 million. This marked a turning point in their journey, propelling CarDekho into the unicorn status it enjoys today, boasting a valuation of $1.2 billion.
Amit Jain reflects on this remarkable journey with pride, emphasizing how CarDekho has evolved far beyond its initial concept. What began as a platform for new car information has grown into a comprehensive ecosystem offering end-to-end solutions for auto buyers and sellers. CarDekho Group, under Amit’s leadership, has expanded its reach significantly.
The New Auto Business, a part of the CarDekho Group, now stands as a market leader, collaborating with major OEMs and over 3,500 new car dealerships in India. The Used Auto Business, another facet of their operation, has rapidly emerged as a dominant player, facilitating used car transactions in over 20 markets.
The group’s influence extends beyond the automotive sector. With ventures like InsuranceDekho, the largest B2B Insurtech in India, and the burgeoning Fintech enterprise Rupyy, boasting over 13% market share, CarDekho is diversifying its portfolio. Other successful ventures under the group’s banner include BikeDekho, CollegeDekho, and strategic acquisitions like Gaadi.com and Zigwheels.
Not content with revolutionizing the Indian market alone, CarDekho Group has expanded its footprint to Indonesia, establishing itself as a market leader in new cars and used car finance.
Today, Amit Jain and his dedicated team are tirelessly working to scale up the many businesses within the CarDekho Group, which now spans over 100 markets. Their journey is a testament to the power of vision, hard work, and innovation, and serves as an inspiration to aspiring entrepreneurs worldwide. Amit Jain’s story is a testament to the boundless possibilities that can be unlocked with unwavering determination and a dream that knows no limits.
Check out his Instagram profile.
