CarDekho Owner Sacks 60 to Stream­line Mgmt, Re­sources

The Economic Times - - Companies - Sharmistha.M@ times­group.com

New Delhi: Girnar Soft­ware, the owner of auto clas­si­fied por­tals in­clud­ing CarDekho.com, has sacked 60 em­ploy­ees in an ef­fort to stream­line man­age­ment and re­sources to fo­cus on core ar­eas.

“There are no mass lay­offs,” said chief ex­ec­u­tive of­fi­cer Amit Jain. Girnar Soft­ware will con­tinue to hire and have a 3,500-strong work­force at the end of June, up from 3,000 em­ploy­ees in March, he said. “This is an im­por­tant time for our com­pany to fo­cus on core busi­nesses. So in the course of man­ag­ing bet­ter for suc­cess, we are in­ter­nally re­align­ing our man­age­ment and re­sources to fo­cus on core ar­eas where we have the best bets for suc­cess. As part of this realign­ment, 60 po­si­tions have been im­pacted,” said Jain.

Girnar Soft­ware, which closed an undis­closed round of fund­ing led by Google Cap­i­tal and Hill­house Cap­i­tal about a month ago, has been on an ac­qui­si­tion spree. Apart from Help On Wheels bought ear­lier this month — its fifth ac­qui­si­tion in two years — Girnar ac- quired Times s.com in 2015.

“2015-16 has been the best year for GirnarSoft,” Jain said. “Af­ter hit­ting record num­bers in 2014-15, we again dou­bled our rev­enue and traf­fic and launched sev­eral new ver­ti­cals across the com­pany. We made some strate­gic ac­qui­si­tions to bol­ster our scale and ca­pa­bil­i­ties through the year. We’re con­fi­dent that our com­pany is the most sta­ble startup in the coun­try; we burn the least when com­pared to any other startup of our size.” Girnar Soft­ware com­petes with Car­Trade.com, which is backed by Te­masek Holdings and March Cap­i­tal, as well as clas­si­fied por­tals such as Naspers-backed OLX and War­burg Pin­cus and Tiger-backed Quikr.

In Jan­uary 2015, Girnar raised .₹ 300 crore from Hong Kong-based in­vestors Hill­house and Ty­bourne, be­sides ex­ist­ing in­vestor Se­quoia. It also raised fund­ing from Tata Sons chair­man emer­i­tus Ratan Tata and HDFC Bank.

In­ter­net-backed ZigWheel-

Girnar Soft­ware will con­tinue to hire & have a 3,500-strong work­force by June end, up from 3,000 in March

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