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Shutdown · Commerce & Consumer Brands

Cars24 shuts Bengaluru office, asks staff to relocate

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Cars24 logo
Date
Company
Cars24
What it does
Used car marketplace and services
Kind
Shutdown
Based in
Gurugram
Founded
2015
Sector
Commerce & Consumer Brands

What they do

Cars24 is an automotive super app for buying, selling, and financing used cars

What happened

It is closing its Bengaluru office and asking employees to move to Gurugram

Why it matters

Those who decline relocation may quit; the move aims to consolidate operations

The details

  • Cars24 is shuttering its Bengaluru office.
  • Employees are being asked to relocate to the company's headquarters in Gurugram.
  • Those who do not wish to relocate are allowed to quit.
  • The relocation process has begun and will conclude in the coming weeks.
  • The Bengaluru teams are largely focused on engineering and product.
  • Cars24 wants all its operations consolidated under one roof.

The bigger picture

  • Bengaluru is a favourite for many startups seeking engineering talent, but Cars24 likely does not find the city's economics suitable.
  • Competitors like Spinny are on a massive fundraising spree and in talks to acquire GoMechanic.
  • Another competitor, CarTrade, was in talks to acquire CarDekho, but the deal did not go through.

About the business

  • Cars24 was founded in 2015 and is headquartered in Delhi NCR.
  • It is positioned as an automotive super app offering services: buy used cars, sell, loans, insurance, and scrappage.

Founders

  • Vikram Chopra, Founder
  • Gajendra Jangid, Founder
  • Mehul Agrawal, Founder
  • Ruchit Agarwal, Founder
  • Mehul Agarwal, Founder

About Cars24

Product
An online platform for used-car buying, selling, and related lending services.
Customers
Consumers and dealers transacting in used cars.
How it makes money
It earns from vehicle sales, marketplace transactions, and financing-related services.
What sets it apart
Uses AI to improve operating efficiency and support growth.
Operations
Operates across multiple countries and runs auction and retail businesses in India.

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