As per Piyush Taneja, Founder & CEO, BuyingIQ, the vision and product centric approach of CarDekho was very inspiring and they are very excited to be a part of this team.
BuyingIQ runs under the banner of BuyingIQ Online Services Pvt. Ltd. and was founded in 2012 by IT graduate Piyush Taneja and BITS Pilani graduate Saumitra Purohit, who were later joined by Avinash Kumar from Booz & Co. Since its launch, the company has grown its user base multi-fold and at present, caters to more than 1.2 million users every month via its mobile app and website. Some of its clients include e-Commerce majors such as Flipkart, SnapDeal, Ebay and Amazon.
CarDekho’s intention behind the acquisition is to capitalise on the data analytics capabilities of BuyingIQ as its scoring system analyses millions of product reviews crawled from all over the Internet. BuyingIQ claims to draw close to 11 million monthly visits with 7.5 million unique visitors.