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Carmudi

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Carmudi
Company typePrivate
IndustryInternet & automotive
Founded2013
HeadquartersBerlin, Germany
Key people
Stefan Haubold (global MD)
Fritz Simons (co-founder)
Websitewww.carmudi.com

Carmudi is an online car site that focuses on emerging markets. The portal was launched in 2013 and is owned by Rocket Internet.[1]

History

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Carmudi was founded in Germany in 2013.[2] The founding of the company was officially announced at TechCrunch Disrupt Berlin.[3] It amalgamated Carmido (Nigeria), Ubilista (Mexico) and Motors.com (Myanmar) into one umbrella company in October 2013 [4] although the latter is still operating under the name motors.com.mm.

In March 2014, Carmudi launched its mobile website.[5]

In 2016, Carmudi was renamed Jumia Deals in Africa.[6]

In 2019, Carmudi Philippines was sold to CarDekho Group of India.[7]

Operations

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In October 2013, Carmudi started its operations in various parts of Asia, Africa and Latin America.[8] By 2014, it launched ventures in Vietnam, Indonesia, Philippines, Cameroon, the United Arab Emirates, Saudi Arabia, Qatar, Sri Lanka, Ivory Coast, Rwanda, Congo, Jordan and Senegal.[9][10][11][12][13][14][15]

Carmudi’s Asian operations were the result of a €10 million investment from the German Tengelmann Group among others. As the company is part of the Rocket Internet-Ooredoo deal, its Asian operations are part of the Asia Internet Holding.

Funding

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In April 2014, after reporting 200% growth a month and a total of 100,000 listings around the world, Carmudi announced a $10 million funding round to expand its operations in Asia. Investors included Tengelmann Ventures, the investment arm of the German retail giant.[16]

Carmudi announced a $25 million second round in February 2015 to gear up its operations in Mexico and several Asian countries. This round included Asia Pacific Internet Group (a joint venture between Rocket Internet and Ooredoo), Holtzbrinck Ventures, Tengelmann Ventures, as well as an undisclosed private investor.[17]

Mobile

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In July 2014, Carmudi launched a mobile application which is available in the majority of the countries they operate. The app is compatible with all Android devices.[18]

Recognition

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In May 2015, Carmudi Nigeria was awarded the Automobile Portal of the Year at the 2015 Beacon of ICT (BoICT) Distinguished Awards, after securing over 50,000 votes.[19]

Carmudi Pakistan was awarded one of the top 100 startups in Pakistan at the first ‘All Pakistan Startup Expo and Awards 2015’ that took place in Islamabad in May 2015. In addition to being a top start-up winner, Carmudi was shortlisted for three award categories: Best Startup of the Year, Best Technopreneur of the Year, and Service Business of the Year Venture Funded Business of the Year.[20]

In June 2015, Carmudi released its first white paper, "The Booming Automotive Industry in Emerging Markets",[21] providing a detailed look into the global state of automotive sales and how car purchasing behaviors have changed due to the drastic increase of internet and mobile penetration, rising GDP, and the emergence of a middle class. This report was featured in Bloomberg,[22] CNN[23] and CNBC[24] among others.

References

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  1. ^ Coetzee, Jacques (28 October 2013). "Rocket Internet-backed online vehicle marketplace Carmudi officially launches". Ventureburn. Retrieved 5 August 2015.
  2. ^ Ventureburn (2013-10-28). "Rocket Internet-backed online vehicle marketplace Carmudi officially launches". Retrieved 2014-03-03.
  3. ^ SiliconEuropeDaily, Charlie (28 October 2013). "ROCKET INTERNET – LAUNCHES CARMUDI AT TECHCRUNCH DISRUPT". Silicion Europe Daily. Retrieved 7 August 2015.
  4. ^ Innovation-Village (2013-10-28). "Rocket Internet rebrands cars classifieds – Carmido (Africa), ubiauto (Latin America) & Motors (Asia)". Retrieved 2014-03-03.
  5. ^ Yahoo SG (2014-03-06). "Trade your wheels conveniently with Carmudi's new mobile website". Retrieved 2014-03-11.
  6. ^ "Jumia unifies Jovago, Kaymu, Carmudi, others | Premium Times Nigeria". 23 June 2016.
  7. ^ Mathur, Nandita (28 November 2019). "CarDekho acquires online car classifieds site Carmudi Philippines". mint. Retrieved 5 March 2023.
  8. ^ Tech in Asia (2013-10-28). "Rocket Internet continues its tear through Asia with the launch of vehicle classifieds platform Carmudi". Retrieved 2014-03-03.
  9. ^ Zawya (2014-06-03). "'World's fastest growing' car classifieds launches in Qatar". Retrieved 2014-06-03.
  10. ^ ameinfo News (2014-05-13). "Auto website Carmudi makes roads into Saudi Arabia". Retrieved 2014-05-19.
  11. ^ Yahoo! News (2014-01-30). "Rocket Internet's real estate venture Lamudi expands into Pakistan and the Philippines". Retrieved 2014-01-31.
  12. ^ Daily Times (2014-02-08). "Carmudi.pk ready to conquer Pakistani market". Archived from the original on 2014-03-13. Retrieved 2014-03-03.
  13. ^ Wall Street Journal (2014-02-27). "Rocket Internet drives Carmudi to the U.A.E." Wall Street Journal. Retrieved 2014-03-03.
  14. ^ Tech in Asia (2014-01-24). "Rocket Internet drives its vehicle marketplace Carmudi into Indonesia and the Philippines". Retrieved 2014-03-12.
  15. ^ Yahoo News (2014-01-24). "Rocket Internet drives its vehicle marketplace Carmudi into Indonesia and the Philippines". Retrieved 2014-03-12.
  16. ^ Shu, Catherine (22 April 2014). "Rocket Internet's Carmudi, A Car Classifieds Site, Grabs $10M In New Funding To Expand In Asia". TechCrunch. Retrieved 5 August 2015.
  17. ^ Shu, Catherine (17 February 2015). "Rocket Internet-Backed Car Listings Site Carmudi Raises $25M To Fuel Growth In Asia And Mexico". TechCrunch. Retrieved 5 August 2015.
  18. ^ Techinasia (2014-07-11). "This new app helps Indonesians get the most out of their used cars". Tech in Asia. Retrieved 2014-07-16.
  19. ^ "Carmudi wins Best Automobile Portal of the year awards". The Nation Online NG. Retrieved 5 August 2015.
  20. ^ Younas, Adeel. "Carmudi Selected as One of the Best Startups in Pakistan". The Tech. Retrieved 5 August 2015.
  21. ^ Moore, Kalie. "THE BOOMING AUTOMOTIVE INDUSTRY IN EMERGING MARKETS". Carmudi White Paper. Carmudi. Retrieved 7 August 2015.
  22. ^ Sadaqat, Rohma. "Your next car is in your mobile device". Bloomberg Business. Bloomberg L.P. Retrieved 7 August 2015.
  23. ^ Arabic, CNN (31 May 2015). "زيادة واضحة بنسبة الإقبال على سوق السيارات الإلكتروني في السعودية". CNN. Retrieved 7 August 2015. {{cite web}}: |first1= has generic name (help)
  24. ^ Africa, CNBC. "NIGERIA'S BOOMING AUTO INDUSTRY". CNBC. CNBC. Archived from the original on 5 August 2015. Retrieved 7 August 2015.
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