CarTrade.com is an Indian online auto

classifieds Classified advertising is a form of advertising, particularly common in newspapers, online and other periodicals, which may be sold or distributed free of charge. Classified advertisements are much cheaper than larger display advertisements use ...

platform serving as a marketplace for users interested in buying and selling new and used vehicles. Headquartered in

Mumbai Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian state of Maharashtra. Mumbai is the financial capital and the most populous city proper of India with an estimated population of 12 ...

, the company also owns other vehicle trading platforms such as CarWale, BikeWale and CarTradeExchange, the omnichannel vehicle auction company Shriram Automall, the

vehicle inspection Vehicle inspection is a Standard Inspection Procedure, procedure mandated by national or subnational governments in many countries, in which a vehicle is inspected to ensure that it conforms to regulations governing Car safety, safety, Automobi ...

company Adroit Auto, and the classifieds portal OLX India.

History

In August 2009, Vinay Sanghi and Rajan Mehra established a used vehicle platform called MotorExchange.in. The company acquired used car marketplace CarTradeIndia.com in the same month. The two platforms were rebranded as CarTradeExchange.com and CarTrade.com respectively in 2014. In November 2015, CarTrade acquired CarWale, an online classifieds portal, and its associated websites in an all-cash deal. In May 2017, CarTrade acquired vehicle inspection and valuation venture Adroit Inspection in an all-cash deal. In January 2018, CarTrade acquired a 51% stake in Shriram Automall from

Shriram Group Shriram Group is an Indian Conglomerate (company), conglomerate headquartered in Chennai. It was founded on 5 April 1974 by R. Thyagarajan (industrialist), R. Thyagarajan, AVS Raja and T. Jayaraman. The group had its beginning in chit funds bus ...

. This acquisition made CarTrade India's largest online and physical marketplace for cars. In August 2021, CarTrade Tech Limited launched its

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

(IPO) and got listed on

NSE NSE may refer to: Stock exchanges * Nagoya Stock Exchange, Japan * Nairobi Stock Exchange, Kenya * Nigerian Stock Exchange, Lagos * National Stock Exchange of India (NSE), Mumbai, India * National Stock Exchange, the former name of Vilnius Sto ...

and BSE. In February 2023, CarTrade set up CarTrade Ventures to acquire and invest in automotive technology companies. In July 2023, CarTrade acquired OLX India's classifieds and auto sales business for . In October 2023, CarTrade announced the closure of OLX India's auto sales division but continued to operate the OLX classifieds platform.

Services

CarTrade operates as a platform for

business-to-business Business-to-business (B2B or, in some countries, BtoB) refers to trade and commercial activity where a business sees other businesses as its customer base. This typically occurs when: * A business sources materials for its production process for ...

(B2B) and

business-to-consumer Direct-to-consumer (DTC or D2C) or business-to-consumer (B2C) is the business model of selling products directly to customers and thereby bypassing any third-party retailers, wholesalers, or middlemen. Direct-to-consumer sales are usually transa ...

(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

auction An auction is usually a process of Trade, buying and selling Good (economics), goods or Service (economics), services by offering them up for Bidding, bids, taking bids, and then selling the item to the highest bidder or buying the item from th ...

s and sales. Other than the online marketplace, it has physical presence with a network of over 4,000 dealers across 80 cities in India. The website currently lists over 1,65,000 certified used cars. 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 A car, or an automobile, is a motor vehicle with wheels. Most definitions of cars state that they run primarily on roads, seat one to eight people, have four wheels, and mainly transport people rather than cargo. There are around one billio ...

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.

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 Canaan Partners, LLC (Canaan) is an American venture capital firm headquartered in Stamford, Connecticut with offices in San Francisco, Menlo Park and New York City. The firm focuses on investing in early stage companies in the technology and h ...

, Epiphany Overseas Ventures,

Tiger Global Tiger Global Management, LLC (often referred to as Tiger Global and formerly known as Tiger Technology) is an American investment firm founded by Chase Coleman III, a former Tiger Management employee under Julian Robertson, in March 2001. It ma ...

Temasek Temasek ( or , also spelt Temasik or Tumasik) is an early recorded name of a settlement on the site of modern Singapore. The name appears in early Malay and Javanese literature, and it is also recorded in Yuan and Ming Chinese documents ...

, March Capital,

Austin Ligon William Austin Ligon (born ca. 1951) is the co-founder and retired CEO of CarMax. He retired in June 2006, and is now a private angel-stage investor. Among his recent investments are Gazelle, Redfin, Rev.com, Car Trade (India), Eneza Education (K ...

, and

Warburg Pincus Warburg Pincus LLC is a global private equity firm, headquartered in New York City, with offices in the United States, Europe, Brazil, China, Southeast Asia and India. Warburg has been a private equity investor since 1966. As of April 2024 the f ...

References

External links

Official website
*{{url, https://www.carwale.com/, Carwale website
Bikewale website
Companies based in Mumbai Indian companies established in 2009 Internet properties established in 2009 Automotive websites Used car market Warburg Pincus companies 2010 establishments in Maharashtra Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange 2021 initial public offerings

History

Services

Promoters

See also

References

External links