CarDekho acquires product comparison portal BuyingIQ.com for an undisclosed amount. This is the 2nd
acquisition by CarDekho in recent times. They had acquired Naspers Group owned Gaadi.com in
BuyingIQ is the online brand owned by BuyingIQ Online Services P Ltd. The company is dedicated to
help its users to find best electronics at the lowest price. BuyingIQ has comparison verticals for mobiles,
tablets, laptops, cameras, televisions, headphones, mp3 players and much more.
BuyingIQ assists users to whether to buy a product or skip it. Users can compare prices from online
stores, read product reviews from their tech community and create alerts for the products and price.
BuyingIQ was founded in 2012 by Saumitra Purohit and Piyush Taneja. The company is based in
Gurgaon. Both founders are technically qualified have passed out from prestigious institutions like BITS
Pilani and Indian Institute of Technology, Delhi. They were joined Avinash Kumar, ex associate from
Booz & Company.
On the other hand CarDekho is owned by Girnar Software P Ltd. They also own BikeDekho which is on
the lines of CarDekho.com apart from price comparison and product discovery enginer PriceDekho.
The company was founded by siblings Amit Jain and Anurag Jain. CarDekho is an online marketplace for users to buy and sell used cars. Apart from this they offer detailed information on the new cars with
dealers contact information. Certain features like car insurance and finance are also been offered.
Revenues for CarDekho is generated through the reviews and every buyer goes to a dealer through
CarDekho will earn commission from the dealer. The same logic is applied to used cars also.
With the acqusition of BuyingIQ, CarDekho capitalises on the data analytics capabilities of the company.
The scoring system, analysis of millions of curated product reviews crawled from all over the internet.
BuyingIQ serves 1.2 million users every month through its website and Android app. They have tied with
e commerce majors like Flipkart, Amazon,eBay and Snapdeal.
At the same time CarDekho serves 11 million visits per month and 7.5 unique visitors per month. The
company has raised private equity for $50 million from Sequoia Capital, Tybourne and Hillhouse Capital
Group in January 2015. Significant highlight of the company is the investment by Ratan Tata, Chairman Emeritus in Feb 2015.
BuyingIQ will remain independent company after acquisition. Founders are taking up larger and key roles in CarDekho. Saumitra Purohit and Piyush Taneja have taken leadership roles of the product and
technology teams and Avinash Kumar is driving strategic initiatives of CarDekho.