India-based used cars marketplace CarDekho has appointed Sharad Saxena CEO of its used car business.

According to a report, Sharad Saxena (LinkedIn profile) will work closely with Amit Jain, the group CEO of CarDekho and its subsidiaries. He will oversee the company’s pan-India used car business and team development while strengthening the organization’s business offering through retail and dealer relationships.

cardekhoSaxena boasts 16 years of experience across the finance, healthcare and hospitality sectors. An alumnus of the prestigious Indian Institute of Technology (IIT) and Indian Institute of Management (IIM), Saxena has worked for McKinsey in different capacities, held senior roles at Max Healthcare and was the COO at OYO before joining CarDekho.

“Sharad’s proven track record of scaling up varied businesses profitably in demanding circumstances, team development and strategic thinking will be immensely beneficial as we embark on CarDekho’s next growth phase. His deep knowledge and expertise will enable us to supercharge the used car business,” said the company.

Commenting on his new role, Saxena said, “I’m excited to be a part of the CarDekho Group and lead the used cars team. I look forward to working with the team to execute the organization’s growth plans and create exponential value for all the stakeholders.” Saxena’s appointment comes nearly a year after CarDekho appointed Mayank Jain as the CEO of its new auto business.

CarDekho was subsequently in the news for corporate restructuring and key appointments. Its parent, GirnarSoft, posted $125 million in consolidated revenues for FY21, up 24% year-on-year. The increased revenue was accompanied by an 18% year-on-year increase in expenses at $171.5 million.

CarDekho is planning for an IPO in the next few months, having raised $250 million in a pre-IPO round. This round also saw the company’s valuation reach $1.2 billion. Founded in 2008 and headquartered in Jaipur, CarDekho Group is owned and operated by GirnarSoft. The parent company also runs several other auto portals, including Gaadi, ZigWheels and Carmudi Philippines.

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