Gaadi.com, today announced a partnership with MIH Group. MIH Group is a subsidiary of Naspers, and its operations are concentrated on internet platforms, paid television and related technologies. The groups main operations are located in emerging markets like South Africa, China, Latin America, Russia, parts of Europe and India. It is also the promoter of iBibo. Gaadi.com on the other hand is owned by Accentium Web Private Ltd. It also runs SecondShaadi.com, LoanBoss.com, StudyNation.com and Taaza.com.
Citing ‘synergies’ between between Gaadi.com and other MIH properties Nikita Dhingra, M&A-Head for MIH Internet India stated that MIH was keen to enter the online auto classifieds space in India. Also worth mentioning here is the fact that CarWale.com was acquired by Axel Springer AG back in November 2010.
The release also said that Gaadi.com would continue its functioning as an independent business. Co-founder Umang Kumar would be taking over as the CEO, while founder Vivek Pahwa would remain involved with the company at a strategic level. He was also quoted as saying that the online auto space grew 70% last year.
MIH Group already owns other sites in the automobile space – Polands otomoto.pl and Russia’s auto.mail.ru. VCCircle reported that MIH Group was now a Majority Stake Holder in Gaadi.com. Here’s a look at the comparative traffic ranks of some sites from the auto space in India – caveat.