CarDekho Owner Sacks 60 to Streamline Mgmt, Resources
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.
Girnar Software will continue to hire & have a 3,500-strong workforce by June end, up from 3,000 in March