CarBay is Launched in Indonesia
Randi Eka - 23 June 2015
CarBay finally hit Indonesia. It functions as an e-commerce portal for cars that provides various information for car-seekers who want to have a complete basic framework upon choosing the right car. CarBay is developed by CarDekho’s Girnar Software. Such website has successfully dominated India and bring home couple of rewards, including the “Website of The Year”.
Besides securing information, the buyers may also look for their desired car characteristics through a number of selections of brands, models, and price.
One of the reasons behind the expansion was based on the fact that there are almost a million of cars that get purchased each and every year, and that the car trade in Indonesia has sharply risen up to 11 percent of CAGR (Compound Annual Growth Rate). A number of the growth’s supporting factors is the low interest rate, rise of middle class population, and GDP growth.
During CarBay’s launching event in Indonesia, CarBay’s CEO for Asia Pacific Mohit Yaday stated:
“Our vision is to make the car trade simpler, and provide the absolute control for consumers to choose, so that they don’t get trapped in complicated processes. We’ve launched several innovative products as well as devices in India which are applicable in Indonesia, since the typology of both markets is similar. We’ve also developed CRM device for dealers so that they may offer better experience to their customers as well as improve the efficiency and their profit as a whole.”
Girnar Software, CarBay’s developer, had just secured a Series B funding worth $50 million from a number of investors, including Hilhouse Capital, Tybourne Capital and Sequoia Capital, back in last January. CarDekho, CarBay’s global website, has also sealed massive achievement. The website is now one of main sources of every car-related-thing in India, and has just being launched in a number of global markets, such Brazil, UAE, and Saudi Arabia.
According to Girnar Software’s CEO Amit Jain, Indonesia is currently in the midst of significant economic growth, so that online products and solutions like CarBay are able to set a new standard in organizing car trade. In Indonesia, CarBay will face direct competition from players like Carmudi, Mobil123 and RajaMobil.