Indian autoblog Gaadi.com has been acquired by the MIH Group, a subsidiary of Naspers Media. Following this development, Gaadi co-founder Umang Kumar will take over as CEO of the website. Meanwhile, Vivek Pahwa, Founder of Gaadi, will continue to be involved at a strategic level.
In his statement, Kumar said, “This is a really exciting development for Gaadi. This partnership with one of the largest Internet groups in the world is just what Gaadi needs to push itself to the next threshold in leadership. The team is really looking forward to establishing this business as a clear leader in this space, on all measures.”
Nikita Dhingra, M&A Head for MIH Internet India, said, “We are happy to welcome Gaadi Web Pvt Ltd to the MIH family. Gaadi.com has demonstrated early traction in terms of traffic and revenue in the auto vertical, backed by an excellent team. We are excited about the potential of the online auto classifieds market in India. We see synergies between Gaadi.com and other MIH properties. MIH owns and operates several classifieds and e-commerce sites across the globe. In the automobile category, MIH Group owns leading sites such as otomoto.pl in Poland and auto.mail.ru in Russia.”