AMIT JAIN

Introduction

Amit Jain, the CEO and co-founder of CarDekho, is a well-known figure from Shark Tank India. He replaced Ashneer Grover in Season 2 and quickly gained popularity for his financial expertise and quick calculations. As the wealthiest shark on the show, Amit expressed his excitement about joining Shark Tank India on LinkedIn, where he shared his eagerness to mentor new entrepreneurs and help build a new India. This blog explores Amit Jain's background, early experiences, investment ventures, and his successful startup, CarDekho.

Early Life and Education

Amit Jain hails from Jaipur, Rajasthan. He attended Saint Xavier’s School and was a good student until the 9th grade.

Challenges in Bombay

When his family moved to Bombay due to his father's job, Amit struggled to adjust, leading to a decline in his academic performance. He failed the 11th standard but managed to pass with grace marks. His 12th-grade performance was also poor, and he didn't pass the IIT entrance exam. Despite these setbacks, his father encouraged him to keep trying.

IIT Dream

After failing the IIT entrance exam the first time, Amit took a gap year to study harder. His efforts paid off when he secured a spot at IIT Delhi.

College and Corporate Beginnings

In college, he learned the importance of hard work and its ability to create opportunities. After graduating, he joined TCS in the corporate world.

Entrepreneurial Journey

Early Career at Trilogy

In 2006, Amit Jain was working in Austin at Trilogy in various roles, including senior associate, distribution manager, and product manager.

Returning Home and Starting GirnarSoft

When his father's health declined, Amit returned home to be with his family. After his father passed away, Amit took over his father's gems business. Wanting to try something new, Amit and his younger brother Anurag started GirnarSoft in 2006 from their home. The company provided IT solutions and services, including offshore products and outsourced software development. GirnarSoft quickly grew and was recognized as one of India's fastest-growing IT companies, even earning the title of 'Top Developer' for mobile app development from Google. They received support from investors like Sequoia, Google Capital, Tybourne, HDFC, and Ratan Tata.

CarDekho: The Next Venture

Inception and Growth

Amit's love for cars led to their next venture, CarDekho. After visiting a car expo in Delhi and finding it lacking in detailed information, Amit and his brother launched Cardekho.com to provide detailed information about cars and connect buyers and sellers of used cars. CarDekho gained immense popularity without any marketing spend. It later merged with Gaadi, Zigwheels, Carmudi Philippines, and Carddrift. Today, CarDekho is India's leading autotech portal and Rajasthan's first unicorn startup. It has over 35 million monthly unique users, 6000+ monthly used car sales, and 3000+ new car sales monthly.

Challenges

Economic Downturn and Recovery

GirnarSoft started well, expanding to a team of 20 and securing office space. However, the 2009 stock market crash led to financial difficulties, and they faced bankruptcy. Despite this, Amit and his brother didn't give up. They quickly launched CarDekho.com, which grew rapidly due to Amit's SEO skills. Their determination turned a tough situation into a thriving business.

Personal and Professional Achievements

Milestones and Recognition

Since its inception in March 2008, CarDekho has celebrated its 16th anniversary in 2024. Despite initial challenges, it quickly became a leading website in its field. Amit and Anurag Jain's dedication and hard work reflect their vision to transform the automotive industry. Their commitment to innovation is evident not only in CarDekho but also in their other ventures.

Personal Achievements:

  • 1999: Graduated from IIT Delhi

  • 2023: Appeared in Season 2 of Shark Tank India

CarDekho Milestones:

  • 2008: Founded as Cardekho.com

  • 2012: Served 2.5 crore visitors and sold 1.7 lakh used cars

  • 2013: Secured $15 million in Series-A funding

  • 2014: Expanded to a team of 600 employees and launched its iOS app

  • 2021: Became a unicorn startup with a valuation over $1.2 billion

CarDekho Awards:

  • Best Car Website of the Year in 2012

  • Most Popular Website 2012

  • Best Website of the Year India 2012

  • Gold at the Golden Cart Award

  • Best Automotive Website in 2019

Shark Tank India Season 2

Role and Impact

Amit Jain joined Season 2 of Shark Tank India, replacing Ashneer Grover. Known as one of the wealthiest sharks, his presence brought a new dynamic to the show. Amit's sharp business acumen and precise calculations made him a favorite among viewers and entrepreneurs. He supports new founders by offering valuable insights and guidance, helping them overcome entrepreneurial challenges. His investment portfolio continues to grow, solidifying his reputation as a savvy investor.