CarDekho.com, the Sequoia-backed online used cars platform owned by Jaipur-HQed GirnarSoft, has today announced the acquisition of BuyingIQ, a two-year old price comparison startup which will most rightly fit in with Girnar Soft owned PriceDekho.com. (via ET)
This will account as Girnar soft’s second acquisition. The firm had earlier acquired the Naspers-backed online used cars platform, Gaadi.com. This acquisition continues to be in-line with Girnar’s previously announced policy, that it would continue to acquire startups within the domain of its platforms.
Girnar Soft operates three online platforms, CarDekho.com, BikeDekho.com and PriceDekho.com.
As for the current deal, Buying IQ’s two co-founders, Piyush Taneja and Saumitra Purohit will take up leadership positions in the product and technology teams, while the third co-founderAvinash Kumar will drive strategic initiatives within GirnarSoft.
CarDekho recently became part of Ratan Tata’s continued personal capacity investments into India’s surging internet startup scenario.
The startup had earlier raised a $50 Million round led by Chinese investment management firm Hillhouse Capital and Hong-Kong based Tybourne. CarDekho’s existing investor Sequoia Capital also participated in the round.
The company was then valued to the north of $300 Million, thus making it one of the most valuable start-ups to come out from Rajasthan.