Understanding that a car is the second-most expensive asset a consumer associates his lifestyle with; Carwale provides a platform where car buyers and owners can research, buy, sell and come together to discuss and talk about their cars.
The startup aims to empower Indian consumers buy making them informed about car buying and ownership decisions with exhaustive and un-biased information on cars through their expert reviews, owner reviews, detailed specifications and comparisons.
Founded in October 2005 by Mohit, Gaurav, Tufail and Arun, Carwale became the first website in India to consolidate used car inventory across dealers and present it to car buyers in an online marketplace.
Mohit Dubey didn’t build Carwale for 11 long years to get acquired by a company which is 2-3 times smaller in size. He sold it as, "it was right for the business," as he puts it. He shares his learning and the action behind the deal and the road ahead in a chat with Entrepreneur India.
“You build companies with passion; you build companies which you can run for the rest of your life. You never build a company thinking about I will get acquired or I will get merged. I think, as you build a company you get to see opportunities which could be really interesting. And the question you really asked as a founder all that time is ‘what is really right for me or right for share holder or investor’ but ‘what is really right for the company’. What is really right for me to serve the purpose that I start the company with,” said Dubey.