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IIT graduate, successful entrepreneur and now reality TV judge - Amit Jain is someone India’s youth looks up to. But do you know the story behind his success? Read on to know more.
You might know Amit Jain as a famous judge on the show Shark Tank India. He is the CEO and Co-founder of GirnarSoft, a prominent IT services company. He has also played a key role in the success of CarDekho, which is a platform to help users make informed decisions when purchasing vehicles. Because of his extraordinary achievements, Amit Jain’s biography can inspire many youngsters in India. Here is how it all started.
Early Life of Amit Jain
Born and raised in India, Amit Jain completed his education in Jaipur and Delhi. Amit Jain’s family includes his mother, Nilma Jain, a homemaker, and his late father, Prashant Jain, a former RBI officer and a gemstone businessman. Amit has a younger brother, Anurag Jain, who is the co-founder and COO of the CarDekho Group. His wife, Pihu Jain, holds the position of Head of the Girnar Foundation.
Amit Jain studied at Saint Xavier's School in Jaipur and then at IIT Delhi, where he graduated in 1999.
Amit Jain’s Career Beginning
After IIT, Amit started his professional journey as a Software Engineer at Tata Consultancy Services (TCS). He worked there from 1999 to 2000. Subsequently, he gained 7 years of valuable experience working as a Senior Associate, Delivery Manager, and Product Manager at a Texas-based software services company named Trilogy.
In 2007, Amit and his brother Anurag fulfilled their dream of starting a business in their hometown by co-founding GirnarSoft, an IT firm. The following year, they launched CarDekho.com, the flagship portal of GirnarSoft.
The CarDekho Journey
CarDekho was founded in 2008. Amit Jain assumed the position of CEO at GirnarSoft and became a co-founder alongside his brother. The vision was to create an online platform that would drive substantial traffic from search engines, particularly Google, and achieve top rankings.
By providing expert reviews, detailed information, images, and videos of various brands and models available in India, CarDekho helps users compare and choose the most suitable vehicle for themselves. CarDekho quickly gained popularity, attracting millions of visitors who sought reliable reviews and information about different cars.
Amit's belief in the venture's potential led to increased investments in manpower and time. CarDekho eventually became the go-to platform for middle-class families seeking guidance in making important car-buying decisions.
Amit and his brother started with humble beginnings, setting up a small garage as their initial office space. Despite facing challenges, such as the company's near bankruptcy during the 2009 stock market crash, Amit remained resilient. He learned the importance of handling corporate finances responsibly and went on to establish CarDekho as an official flagship project.
Under Amit Jain's leadership, CarDekho experienced remarkable growth without spending a single penny on marketing. It became India's leading Autotech portal and Rajasthan's first unicorn startup. With over 35 million monthly unique users, 6,000+ monthly used car sales, and 3,000+ new cars sold monthly, CarDekho's online presence attracted significant advertising opportunities.
The company received substantial funding from Sequoia Capital in 2013 and made strategic acquisitions, including Gaadi.com in 2014, ZigWheels in 2015, PowerDrift in 2018 and Carmudi Philippines in 2019. CarDekho achieved unicorn status in 2021 after raising $250 million in its Series E funding round, valuing the company at $1.2 billion.
Shark Tank Fame
Amit Jain's entrepreneurial success caught the attention of television producers, and he became a judge on Shark Tank India. This popular show provides a platform for budding entrepreneurs to pitch their ideas to a panel of seasoned investors.
Amit expressed his excitement and anticipation on LinkedIn, stating his eagerness to mentor and contribute to building a new India through the show. Many saw his entry as a bit controversial, given that he replaced the previous judge Ashneer Grover, who was fairly popular but also quite controversial.
Near Future
Beyond CarDekho, Amit Jain has successfully led GirnarSoft, the parent company offering a range of IT solutions and services. Headquartered in Jaipur, Rajasthan, GirnarSoft provides services such as mobile application development, automotive solutions, custom software development, and outsourcing IT solutions. The company operates various automotive portals and marketplaces, including PriceDekho, BikeDekho, InsuranceDekho, and OTO.com, catering to a global audience.
At Shark Tank India, Amit Jain’s success story serves as an inspiration to budding entrepreneurs. His journey from a small garage to leading a unicorn startup demonstrates the potential of perseverance, resilience, and strategic thinking. Amit Jain's involvement in mentoring and supporting emerging entrepreneurs through the show signifies his commitment to fostering a vibrant startup ecosystem in India.
Final Words
Amit Jain's entrepreneurial spirit has left an indelible mark on the Indian startup landscape. As he continues to pave the way for the future of GirnarSoft and CarDekho, his vision and leadership will undoubtedly shape the automotive industry and inspire aspiring entrepreneurs across the country.
If you want to know more such stories or about trends in the stock market, check out the Smart Money blog. If you are interested in entering the stock market, open Demat account with Angel One, India’s trusted stockbroker.
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