Biography of Amit Jain: Founder & CEO of CarDekho- Indian Entrepreneur
Story of Amit Jain: The Visionary Behind CarDekho
Amit Jain, born on November 12, 1977, is a 47-year-old
entrepreneur and software engineer from Jaipur, Rajasthan. As a Scorpio, Amit
is known for his drive and determination in the business world.
From Small-Town Dreams to Big Success
Amit Jain's journey with CarDekho is a remarkable tale of
transforming a small-town startup into a significant player in the online
automotive marketplace. Hailing from Jaipur, a picturesque city in India,
Amit's ambition extends far beyond local borders. His office reception features
a wall-sized medieval world map, symbolizing his aspiration to dominate the
classifieds and automotive web services markets. With a successful foothold in
India, Amit is now eyeing expansion into Southeast Asia, including countries
like Indonesia.
A Strong Foundation
Amit Jain, an alumnus of the Indian Institute of Technology
(IIT) Delhi, is the CEO and co-founder of CarDekho. Before diving into the
entrepreneurial world, he gained valuable experience working as a Software
Engineer at Tata Consultancy Services (TCS) from 1999 to 2000. Following his
stint at TCS, he worked as a Senior Associate at Trilogy, a Texas-based
software company, honing his skills in the tech industry.
A Shift Back to India
In 2006, after his father fell ill, Amit returned to India
and decided to leverage his experience in a new venture. He and his brother,
Anurag Jain, transformed their garage in Jaipur into the headquarters for their
new IT outsourcing company, GirnarSoft. With a small team of 20 employees, they
began their entrepreneurial journey, laying the groundwork for what would
eventually become CarDekho.
Early Career and Initial Experience
Amit Jain's career began in the tech industry with Tata
Consultancy Services (TCS), where he worked as a Software Engineer from 1999 to
2000, the same year he graduated from the Indian Institute of Technology (IIT)
Delhi. His role at TCS laid a strong foundation in software engineering, which
he further developed during his tenure as a Senior Associate at Trilogy, a
Texas-based software company. This experience in the tech sector provided him
with a solid understanding of software development and business operations.
Founding GirnarSoft
In 2006, following his father’s illness, Amit returned to
India, a move that marked a significant shift in his career trajectory. Seizing
the opportunity to make a mark in his hometown of Jaipur, he co-founded
GirnarSoft with his brother Anurag Jain. The duo converted their garage into an
office and rapidly built a team of 20 people. Despite the initial challenges,
including a significant loss of around Rs 1 crore in stock, Amit’s resilience
was evident. This period of trial laid the groundwork for their future ventures.
Vision for CarDekho
Inspired by the Auto-Expo in Delhi, Amit and Anurag
identified a gap in the market for a comprehensive car buying and selling
platform. They launched CarDekho with the vision of leveraging technology to
enhance the automotive buying experience. The platform aimed to provide users
with detailed information, expert reviews, and multimedia content to assist in
their vehicle purchase decisions. Amit’s vision was clear: to create a portal
where users could easily access accurate and comprehensive information about
cars.
The Birth of CarDekho
A year later, at the 2008 Auto Expo in New Delhi, the idea
for CarDekho was born. Their goal was to revolutionize the car buying and
selling experience by leveraging technology. They created a website designed to
provide users with comprehensive information and reviews to help them make
informed purchasing decisions.
CarDekho's Growth and Success
CarDekho, founded by Amit and Anurag Jain, started as an
online platform for buying and selling used cars. Under Amit's leadership, CarDekho
has grown significantly, securing $75 million in funding from key investors
like Hillhouse Capital, Tybourne Capital, Ratan Tata, and HDFC Bank. The
company has expanded its operations beyond India and is now active in several
Southeast Asian countries.
Biography of Amit Jain: Founder & CEO of CarDekho- Indian Entrepreneur/ Carmudi Philippines/PowerDrift/ZigWheels/Gaadi/success story of of shark Amit
Profitability
CarDekho’s early years were a period of significant growth
and adaptation. The company initially faced challenges but gradually turned
profitable after seven years. This success was marked by securing $15 million
in Series-A funding in 2013. The investment helped CarDekho expand its services
and solidify its position in the market. Amit’s strategic direction and leadership
were pivotal in navigating the company through its formative years.
Overcoming Challenges
The path to success was fraught with obstacles. The
development of CarDekho was met with numerous challenges, but Amit and Anurag
remained resilient. They bootstrapped their way through seven years of hard
work before turning CarDekho profitable. In 2013, they secured $15 million in
Series-A funding and transformed CarDekho into a unicorn with a valuation of
$1.2 billion.
Building an Ecosystem
What started as a simple car portal evolved into a
comprehensive ecosystem offering solutions for new and used cars, financing,
and insurance. CarDekho’s used auto business grew rapidly, making it one of the
fastest-growing players in the industry, with operations in over 20 markets.
They also launched InsuranceDekho, India’s largest B2B Insurtech and a leading
B2C insurance broker. Their fintech venture, Rupyy, achieved profitability and
captured a 13% market share in India. The group expanded further with
BikeDekho, CollegeDekho, and acquisitions of Gaadi.com and Zigwheels. Their
success also reached international markets, with a strong presence in Indonesia
as a leader in new and used car financing.
Current Success and Offerings
Today, CarDekho stands as a major player in the automotive
classifieds industry, offering a robust platform for users to explore and
purchase vehicles. The website and app feature extensive automotive content,
including expert reviews, detailed specifications, and high-quality images and
videos. The platform has partnered with numerous automobile manufacturers and
over 4,000 car dealers to provide a comprehensive car-buying experience.
Future Ambitions
Under Amit’s leadership, CarDekho has achieved a valuation
of $1.2 billion. His vision extends beyond just buying and selling cars; he
aims to transform CarDekho into one of the top five automotive portals globally.
The company is now focused on broadening its offerings to cater to a wider
range of automotive lifestyle needs, reflecting Amit’s ambition to continuously
innovate and enhance the car-buying process for users.
Amit Jain's Financial Success and CarDekho's Growth
Net Worth and Investments
Amit Jain, a prominent entrepreneur, has amassed significant
wealth, with a net worth estimated at Rs. 3100 Crores INR as of 2023. His
financial success is closely tied to his role in the CarDekho Group, which has
achieved remarkable growth under his leadership.
CarDekho's Achievements
Under Amit Jain's guidance, CarDekho has become India’s
leading autotech portal and Rajasthan's first unicorn. The group's valuation
hit $1.2 billion in the last Series E funding round in October 2021. CarDekho
has expanded its footprint internationally, with operations in India,
Singapore, Indonesia, the Philippines, and Malaysia.
Key Acquisitions
Since 2014, Amit Jain has led several key acquisitions that
have strengthened CarDekho’s position in the market. These include Gaadi
(2014), ZigWheels (2015), PowerDrift (2018), and Carmudi Philippines (2019).
These strategic moves have helped consolidate CarDekho's presence in the
automotive sector.
Established Brands
Amit Jain has established several notable brands under the
CarDekho Group, including Autotech, which encompasses CarDekho, BikeDekho,
OTO.com (Indonesia), and InsuranceDekho (Insuretech). Additionally, Fintech
ventures like Rupyy and CollegeDekho have been developed.
A New Role on Shark Tank India
In addition to his achievements with CarDekho, Amit Jain has
recently stepped into a new role as one of the 'Sharks' on Shark Tank India, replacing
Ashneer Grover for the second season. His diverse background and
entrepreneurial success bring a wealth of experience to the show, further
showcasing his dynamic career and commitment to innovation.
A New Judge Joins the Panel
Amit Jain, co-founder and CEO of CarDekho, steps in as a new
judge for Season 2, taking over from Ashneer Grover, the former founder of
BharatPe. Hailing from Jaipur and an alumnus of IIT Delhi, Amit Jain brings his
extensive experience and expertise to the panel, promising valuable insights
and guidance for the entrepreneurs.
Beyond Business
Amit Jain is not just a successful entrepreneur but also a
person with a passion for movies and literature. His favorite movie is "3
Idiots," and he enjoys listening to the song "Love You Zindagi"
from the movie "Dear Zindagi." He is an avid reader, with Jim
Collins' "Built to Last" being one of his preferred books.
Family Life
Amit Jain's family includes his brother Anurag Jain, who is
also a co-founder of CarDekho. Amit is married to Pihu Jain, who works as the
Head at Girnar Software Pvt Ltd. Together, they have two sons, Ayaan and Aahil,
who are 8-year-old twins.
Amit Jain comes from a distinguished family. His
grandfather, Late Dr. Dharam Singh Jain, was a renowned astrologer, making a
mark with his expertise. His father, Late Mr. Prashant Jain, had a notable
career as an RBI officer and gemstone businessman, reflecting a blend of
financial acumen and traditional craftsmanship. Amit’s mother is Nilima Jain,
and he has a younger brother, Anurag Jain, who is the Co-Founder and COO of
Cardekho Group. The Jain family is well-regarded for their contributions to
various fields, with Amit and Anurag continuing this legacy through their professional
achievements
Marital and Family Relationships
Amit Jain and Pihu Jain's marriage is a partnership between
two professionals, with Pihu contributing her expertise to Girnar Software. As
a family man, Amit takes pride in his role as a father to his twin sons, Ayaan
and Aahil, balancing his professional achievements with a fulfilling family
life.
1977
November 12: Amit Jain is born in Jaipur, Rajasthan.
1999
Tata Consultancy Services (TCS): Amit starts his career as a
Software Engineer.
2000
Graduation: Amit completes his studies at the Indian
Institute of Technology (IIT) Delhi.
2000-2006
Trilogy: Amit works as a Senior Associate at the Texas-based
software company, Trilogy.
2006
Return to India: Amit returns to India to support his
family.
GirnarSoft: Amit and his brother, Anurag Jain, start
GirnarSoft from their garage in Jaipur.
2008
CarDekho: Amit and Anurag Jain launch CarDekho, an online
platform for buying and selling cars.
2013
Series-A Funding: CarDekho secures $15 million in Series-A
funding.
2014
Acquisition: CarDekho acquires Gaadi.
2015
Acquisition: CarDekho acquires ZigWheels.
2018
Acquisition: CarDekho acquires PowerDrift.
2019
Acquisition: CarDekho acquires Carmudi Philippines.
2021
Valuation: CarDekho’s valuation reaches $1.2 billion in the
Series E funding round.
2023
Shark Tank India: Amit Jain joins as a ‘Shark’ on the show,
replacing Ashneer Grover for the second season.
Current
Expansion: CarDekho continues to expand its presence in
Southeast Asia and beyond, with significant investments and acquisitions,
including operations in Indonesia and other Southeast Asian markets.
This timeline highlights the key milestones in Amit Jain's
career and the growth of CarDekho.
