The brothers Amit and Anurag Jain, the two co-founders of Girnar Software in 2007, stopped drawing salaries in December and will only start drawing salaries again when the company turns a profit. Girnar Software owns three major auto platforms, namely CarDekho, ZigWheels and Gaadi.com.
Two of China’s biggest used-autos classifieds sites are preparing to face off in court. On Friday last week, an unfair competition lawsuit filed by Youxin was accepted by the Chaoyang People’s District Court in Beijing.
Bulent Tufenkci, Turkey's minister of customs and trade, informed the local auto trade industry that a new regulation will be promulgated to do with guarantees for used autos. The regulation, which will be sent to the Office of the Prime Minister, and then published in the official gazette in the next days, will directly impact local used-auto sites.
On Febr. 22 Yun Chen Capital Cayman, an affiliate of Ping An Group, acquired about 6.5 percent of the total issued shares of Australia's Telstra Holdings. The move pushed Yun Chen Capital Cayman's beneficial shareholding in Autohome Inc. to about 53.9 percent.
Carview, a Japanese used-car classified jointly operated by Yahoo Japan Corporation, introduced a user-friendly desktop interface for auto buyers, to facilitate the flow of transactions and make negotiation hassle-free.
The managers of Beepi.com, a used-auto start-up in the Francisco Bay-area, confirmed a Techcrunch report (here) that the site had stopped operating after running out of cash, and before it could be sold to an interested party.
After signing up AutoScout24 France last month, payment solution firm Depopass now has all the leading auto verticals in France on its books.
Sandy Schwartz, president of Cox Automotive Group, says he's having fun trying to integrate the 25 businesses that Cox Automotive runs, in a terrific interview by WardsAuto.
Spanish auto classified Clicars.com celebrated achieving sales (transactions) with a combined value of more than $5 million in its first year. The start-up was co-founded by Pablo Fernandez and Carlos Rivera, who hail from finance and consulting backgrounds.
Guazi.com, China’s leading used-auto auto site, held its 2017 annual general meeting at the end of January. At the event, CEO Yang Haochong confirmed that the company had strong revenue growth in 2016, and announced Guazi aims to become the largest used-auto site in the world as measured by the number of transactions - still this year.