CarDekho.com’s parent company Girnar Software Pvt. Ltd has acquired online Youtube channel dedicated to automotive content ‘PowerDrift.’ However, the exact value of the deal has not been disclosed yet.
The PowerDrift YouTube channel tries to cater to car and bike enthusiasts, who are always on a lookout for quality automotive reviews. The channel officially went on air in 2012 and is the brainchild of Rohan Albal and Amit Shetty.
CarDekho.com acquires online Youtube channel PowerDrift
Today PowerDrift is basking in success, with the channel claiming that it has generated 240 million lifetime views on its channel.
It is clear that Girnar Software, which also owns BikeDekho.com and Gaadi.com, wants to leverage PowerDrift’s expertise in providing quality automotive reviews for its online platform. This by the way is not Girnar Software’s first acquisition. During last few years, the company has acquired several promising startups including Volob Technologies, Connecto, Help on Wheels.
According to reports, Girnar raised $3.6 million through debt financing in July this year. Prior to that, Sequoia reportedly pumped $2.5 million in Car Dekho.
Incidentally, India’s online auto space is witnessing intense competition. Apart from CarDekho, CarTrade.com, Carwale.com, Droom, Spinny, Truebil and CarTrade are other players in the space. In all probability, auto giant Maruti Suzuki is also likely to join this list.
According to reports, India’s no 1 car manufacturer is seriously planning to launch a website that will compete with CarDekho and other similar players. Sources claim that Maruti is planning such a move to give further push to its sales and its online platform will primarily cater to car dealers.
If a big player like Maruti Suzuki does enter the online auto industry then this nascent industry is certainly heading for a huge disruption. It may also open floodgates for other big auto companies to enter into the market.
