IIT Delhi alumnus Amit Jain, CEO and co-founder of CarDekho, proved to be amazing when he appeared in the trailer for the second season of Shark Tank and appeared to replace former BharatPe founder Ashneer Grover.
Image credits: LinkedIn
IIT Delhi alumnus Amit Jain, CEO and co-founder of CarDekho, proved to be amazing when he appeared in the trailer for the second season of Shark Tank and appeared to replace former BharatPe founder Ashneer Grover.
The new shark has raised a lot of questions in the minds of the viewers, like who is Amit Jain?
What happened to Ashneer Grover?
Find the answers here!
Key Takeaways: Who is Amit Jain?
- Entrepreneur Amit Jain, whose company CarDekho is valued at more than $1.2 billion, has worked with Trilogy, a Texas-based company, as a senior associate in Austin and TCS.
- Amit Jain is from Jaipur.
- The new shark is a student at the Indian Institute of Technology in Delhi and studied at Saint Xavier School in Jaipur, according to his LinkedIn profile.
- In 2006, entrepreneur Jain planned to set up an IT outsourcing company in his hometown Jaipur.
- In 2008, after Amit Jain and his brother attended the Delhi Auto-Expo, they got inspired and thought of the brilliant idea of CarDekho.
Amit Jain Timeline
- In 1999, Amit Jain completed his education from IIT Delhi.
- In 2006, Jain and his brother converted their garage into a makeshift office and started their own software outsourcing company. GirnarSoft. Startup Talky’s report states that the duo employed a team of 20 people and that the company’s early years were profitable. However, after a while, the company experienced a decline and fell into losses. They reportedly lost around Rs 1 crore worth of stock.
- In 2008, the brothers came up with the idea for CarDekho after touring the Auto Expo in New Delhi. “Our goal was to leverage technology and provide users with a best-in-class car buying or selling experience. We created a portal where people could come to find the right information and review cars before making the decision to buy them” says Jain’s LinkedIn profile.
- In 2013, things changed when CarDekho turned a profit after 7 years and the company secured Series A funding of over $15 million.
- As of September 2021, according to the company’s website, CarDekho Group surpassed the $100 million revenue milestone with strong performance across all business segments.
- The company is currently valued at $1.2 billion, and not only that, but it will geographically expand its used car retail trading business. They are on track to catalog 10,000 cars in the near future.
- The company plans to extend its roots across India with retail centers that will consider both used car purchasing and certified used car retail transactions with customers.
‘Drive’ by Amir Jain
- Jain recognizes that he lives in the moment and has a strong drive to create something for the future while having a great time with his family.
- Amit Jain told Hindustan Times: “I think I am both, depending on the context. I am very objective most of the times. When it comes to the people side, I am more heartfelt and when it comes to the business side, “I’m more heady.”
About Cardekho
- CarDekho is a search company that helps users buy cars that fit their needs.
- The website and app maintain automotive content like expert reviews, detailed specifications and rates, along with images and videos of all car categories available in India.
- As evident from its official website, Cardekho has collaborated with numerous automobile manufacturers. Almost and more than 4000 car dealerships to facilitate the buyers.
- CarDekho is one of the five largest automobile portals in the world.
The Jain brothers want to satisfy a broader range of needs associated with automotive lifestyles.
“We want the consumer to be with us throughout the ecosystem, from purchasing to maintaining a car.” According to Amit in an interview with Open magazine.
What happened to Ashneer Grover?
- In March 2022, Ashneer Grover resigned from BharatPe’s board of directors and left the CEO post after a period of turmoil on the board.
- In late January, Grover took a two-month leave of absence after an alleged audio clip surfaced on social media in which a man was heard uttering abuse and life-threatening statements in a recorded phone call to a Kotak Mahindra representative. Bank for not obtaining financing. to buy shares in the Nykaa IPO.
- This clip urged the BharatPe board to launch an investigation into charges of financial anomalies against Ashneer Grover and his wife, Madhuri, who was the company’s chief controller.
- According to an Economic Times report, an initial investigation indicated that fraudulent transactions took place within the company on which the board decided to take further action.
- A BharatPe spokesperson stated, “Ashneer Grover resigned minutes after receiving the agenda for the upcoming board meeting which included presentation of PWC’s report on his conduct and consideration of action based on it.”
Categories: Optical Illusion
Source: ptivs2.edu.vn