Auto Classifieds portal “CarTrade.com”, which is looking forward to opt for an initial public offering (IPO) in the next two years or so, is at present staking on tapping the services segment in used car financing platform. Founded and headed by Vinay Sanghi, CarTrade has recently hurled a valuation, certification and transfer (of ownership) services to fill in the gap that existed in the used car financing space.
Also, the company, which together with CarWale.com shares 75% of all online auto portal traffic is also looking at relevant acquirements. Besides focusing on the customer origination concept, CarTrade.com also aims to evolve as a service provider leader as Mr. Sanghi feels that this is one of the huge consumer finance opportunities.
Meanwhile, this firm has also raised $145 million lately from investors led by Temasek to invest into innovative business areas and is also looking forward for relevant acquisitions. The portal which acquires 15 million unique customers and 32 million visits per month is already a leading market leader. Sanghi claims that the existing business is profitable, and he does not need funds for that, however, it is looking at inorganic opportunities for the product, technology or content space.
He added that the company has till now raised around $180 million and does not rule out going public to offer an exit to its investors. “We might go for an IPO to offer an exit to our investors, and that should be in the next two to three years time,” Sanghi said.
CarTrade.com Looking Forward for IPO
