 "We will launch 9 pilot projects in next 9 months in search of Cardekho 2.0: GirnarSoft")
These projects will come on the back of the company buying small and distressed start-ups over the past few months. The company has bought four companies, including two virtual reality companies, a SaaS (software as a service) firm and a roadside assistance unit.
In September 2015, Girnarsoft bought Times Internet-run Zigwheels. In 2014, it had acquired Gaadi.com. The series of buyouts helped it secure the number one status in the vehicle-listing business.
“All our acquisitions are based on building properties, where content is king,” said Anurag Jain, chief operating officer and co-founder, GirnarSoft.
He added the company planned to take these vanilla information platforms and make them money spinners.
But why buy virtual reality companies when the adoption in India and the West has been minimal? “We are still planning on how to use the technology. But, we think, in two years, virtual and immersive reality companies will be deciding how the content is shaped and we will be ahead of the curve,” said Jain.
But aren’t plans of what they would do with the company be made before making the acquisition? “Yes, we have. But it is still in the initial stages. We may plan to offer it on Cardekho to give users an idea of what the car looks and feels like without leaving their home,” said Jain. While Google Cardboard is available in India the number of phones that support virtual reality plugins are still limited. But why two companies that do the same job? "The other company has a strong augmented reality component. And that's something we are excited about," added Jain.
The company plans to add it as a service at dealerships to give potential customers an idea of how their vehicles will feel in different environments. This technology, however, is extremely expensive currently, needs specialised equipment to run and can be used only after training. Jain, however, has a very simplistic explanation. "Remember, when computers came in and everyone said they wouldn't work and needed training. We, too, will give training, if needed," he said.
The SaaS company GirnarSoft bought will try to account for the billing at dealerships and after sales services such as the roadside assistance.
GirnarSoft will launch niche sub sites within the Cardekho universe such as tyredekho and batterydekho. Jain insists that despite catering to a limited market it will work purely on a lead generation model and should be a big earner as the ticket sizes here are significantly bigger as well and very few browse without meaning to complete a purchase.
The company, however, had recently laid off over 60 people after a failed vertical, while 300 others were adjusted within the company. Now, the company is yet again trying to diversify into ambitious verticals. "We don't think those kind of lay offs will happen again," said Jain.
GirnarSoft has, so far, raised close to $70 million at a valuation of $400 million, with Sequoia and Google Capital being its biggest investors.
