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E Commerce

CarDekho Joins Hands With Raya Holdings To Enter UAE Market


SUMMARY

CarDekho is counting on its offerings like advertising, lead management, and digital content solutions to penetrate the used cars market in the UAE

The Jaipur-based unicorn operates under the brand name OTO in Indonesia and Carmudi and Zigwheels in the Philippines

The company was able to reduce its consolidated loss by 40% to INR 340 Cr on a year-on-year basis

Auto marketplace CarDekho Group has expanded into the United Emirates Arab (UAE) market in partnership with Egypt-based Raya Holdings.

In a statement, the…



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by Tech In Asia

GoTo’s legal and corporate secretary said the company follows regulations for public companies and will prioritize the interests of shareholders. Source link

by INC42

SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link

by INC42

From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread.  The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year.   At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company.  Jain is under pressure to step down… Source link