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MIH Group Acquires Majority Stake in Gaadi

Naspers owned MIH group has acquired majority stake in Gaadi, the auto classifieds portal.

Post this partnership, the Gaadi business (which is part of Accentium Web that runs other sites like StudyNation, SecondShaadi etc) will continue to run as an independent entity, with Umang Kumar, co-founder, taking over as CEO of Gaadi.com. Vivek Pahwa will continue to be involved at a strategic level (he earlier sold Desimartini to HT).

 

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Important to note that MIH owned ibibo isn’t involved in this deal.

November of 2010, Carwale sold 70% stake to India Today Group and Germany Based, Axel Springer and Used Vehicle Marketplace, MotorExchange Raises $5mn.

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