CarTrade acquires rival firm CarWale in full cash deal

Q.  CarTrade has acquired which rival online automobile classifieds in a full cash deal on 13th November 2015?
- Published on 16 Nov 15

a. CarDekho
b. Quikr
c. Olx
d. CarWale

ANSWER: CarWale
 
In a move towards consolidation in the online automobiles classified segment, CarTrade has acquired rival company CarWale in a complete cash deal. The financial details of the merger have not been disclosed. German media major Axel Springer has exited the acquired firm, selling entire shareholding to CarTrade. Rival CarDekho has acquired Zigwheels, an auto portal owned by Times Group. The two companies receive over 32 million monthly visits and work with new as well as used car dealers listing more than 2,25,000 used cars for sale. Combined entity will work to outperform CarDekho and horizontal classified services such as Quikr and Olx. CarTrade has many investors including Warburg Pincus. Epiphany Ventures, JP Morgan and March Capital.

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