Vinay Sanghi's audacious move to buy the biggest online classifieds brand in India can put CarTade in fifth gear. The massive opportunity, though, can also put India's first listed used and new car platform in a spin if it slips in execution. Will Sanghi's gambit pay off?
Dubai, March 2023. Both the parties started the conversation on an apprehensive note. And it was natural. Vinay Sanghi, a veteran in the game of buyouts—he bought online classifieds portal CarWale in 2016, automobile valuation platform Adroit in 2017, and vehicle auctioning platform Shriram Automall India in 2018—was about to meet the potential seller for the first time. The seasoned entrepreneur, who got CarTrade listed in 2021, was trying to read the minds of the negotiator. The biggest risk for a seller, underlines the chairman and managing director of CarTrade, is to find out if the buyer is serious about the transaction.