CarDekho, an online marketplace subsidiary of India-based e-commerce company Girnar Software, has acquired competitor Gaadi.com from online travel company IbiboGroup for an undisclosed sum.
Gaadi was founded in 2008 and acquired by IbiboGroup, a joint venture by internet companies Tencent and Naspers, in 2011.
Umang Kumar, Gaadi’s CEO, said: “This is a great outcome for all stakeholders – Ibibogroup, Gaadi employees and CarDekho. Gaadi.com grew 10x in 3.5 years as a part of Ibibogroup and together with CarDekho we can scale our leadership in the used car business even faster.”