GirnarSoft, the parent company of Cardekho and Bikedekho, has entered into a joint venture with Indonesian media and content firm Emtek to create a new car classifieds website called Oto.com. The deal was done through CarBay Private Limited (a subsidiary of Girnarsoft) and Kreatif Media Karya (KMK), the digital business arm Emtek. Under this, Carbay will own 70% stake in the venture and KMK shall own 30%. Oto.com will act as an intermediary which will connect the consumers with the automobile manufacturers and dealers. It shall provide consumers with car and motorbike research sections providing information about prices, specifications, features, pictures, reviews and road tests of various models. The platform will also allow users to compare multiple models and shall provide the latest information with respect to new car/motorcycle launches, price changes and other relevant updates from the automobile industry. CarBay is Girnarsoft's auto portal in South Asia and Middle East. It had launched in Malaysia and Thailand in July 2015. The joint venture will be headed Mohit Yadav who functions as CEO of CarBay. GirnarSoft funding & restructuring: In March, GirnarSoft raised an undisclosed amount of funding from Google Capital and participation from existing investor Hillhouse Capital. At the time, it said it would use the funds for technology, R&D and expansion within and outside India. The next month, the company laid off 60 people in a round of restructuring. GirnarSoft added that it would be increasing its staff size to 3,500 by the first quarter of 2016-17. GirnarSoft’s recent investments &…
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