Amit Jain is the co-founder and Chief Executive Officer of CarDekho, which is an online platform for buying and selling second-hand vehicles. Amit was employed by TCS and Trilogy, which are software companies, before he ventured into entrepreneurship. His zodiac sign is scorpio.
The Early Life of Amit Jain.
Amit Jain was born on 12th November, 1976, in Jaipur, Rajasthan, India. His grandfather is the Late Dr. Dharam Singh Jain, who was a popular astrologer in his time. His father is the Late Mr. Prashant Jain, who was a former officer at the Reserve Bank of India and Gemstone businessman. He passed on in 2006, due to illness. Jain’s mother is called Nilima Jain, and she is a homemaker. Amit has a younger brother called Anurag Jain, who is also the co-founder of CarDekho. Amit studied at St. Xavier’s Senior Secondary School in his hometown Jaipur. Amit did well in his studies, and his grades were always up until he reached the 9th grade. It is at this grade that Amit started facing challenges in his studies, after they relocated Bombay due to his father’s nature of work. He had a hard time adjusting to this new environment, and he eventually failed his 11th grade. This was a huge blow to Amit, as he only managed to push through the 11th grade with average grades. His scores even dropped lower in the 12th grade, to the extent that he missed the cut-off points for the IIT entrance exams. Amit was heartbroken, and it took the intervention of his father’s encouragement to re-do the entrance exams. Since he wasn’t able to sail through his entrance exams in his first attempt, Amit took a one-year gap and came stronger in his second attempt, to secure a spot at IIT Delhi. He took this setback as a lesson, that hardwork and determination opens doors to limitless opportunities. He then enrolled at Indian Institute of Technology (IIT) in Delhi to pursue Bachelor of Technology from 1995 to 1999.
Amit Jain’s Road to Success.
Amit Jain was first employed by Tata Consultancy Services (TCS) in 1999, where he served as the company’s Software Engineer until 2000. He was then employed by Trilogy, which is a software company located in Texas, where he worked as a Senior Associate, Product Manager, and Delivery Manager until 2006.He moved back to India in 2006, after learning of his father’s illness. The brothers tried to continue the family business of selling selling gemstones, but they eventually abandoned it after they lacked passion for the business. Amit then decided to launch his IT outsourcing company in his hometown, Jaipur. He then joined hands with his brother, Anurag, to convert their garage into a makeshift company. It was then that Amit started his aspiration to own an IT firm, and they even employed up to 20 people.
The road to establish GirnarSoft was not easy, as there was a time when their company suffered a loss of INR 1 crore in stock. Amit never gave up, and it is after they attended an Auto Expo in Delhi, that he joined together with his brother to launch CarDekho. Their aim was to avail an easy-to-use platform to their customers, to access buying and selling of used cars services. This platform gave customers accurate information and reviews about cars, which they would scrutinize before closing any deals. CarDekho finally recorded a profit after seven years, and the company got a boost of USD 15 million in funding in 2013.
CarDekho.
CarDekho is an online platform, where customers can sweep through thousands of car models in India, then purchase the one which suits their needs. Amit and Anurag created this platform, that is filled with expert reviews, car specifications, images of the cars and their prices, to ensure that customers get all the information they need before making a purchase. CarDekho has partnered with tons of automobile companies and more than 4,000 car dealers, to avail all vehicle types to its customers. Amit still has plans to make the company to cater to more customer needs, and to be a household name in India and the region. The company has even expanded its operations to other nations such as the Philippines, Singapore, Malaysia, and Indonesia.
Amit Jain has pioneered different brands under CarDekho which are InsuranceDekho which is under Insuretech in 2016, Autotech CarDekho, CollegeDekho in 2015, Fintech Rupyy which falls under Fintech, and BikeDekho,OTO.com – Indonesia in 2009,which forms part of Autotech. CarDekho also acquired several companies under Amit Jain including Gaadi in 2014, ZigWheels in 2015, PowerDrift in 2018, and Carmudi Phillipines in 2019. CarDekho has attracted several investors over time such as Tybourne Capital, Times Internet, Google Capital, Sequoia Capital, and Ratan Tata.
BikeDekho
Amit also launched this company with his brother, Anurag, to make it easier for manufacturers and consumers to trades bikes and scooters in India. The company has stretched its boundaries to other countries such as Malaysia, Indonesia, and the United Arab Emirates (UAE). It has ventured into these countries under the following websites: Zigwheels.my, Zigwheels.ae, and Oto.com.
InsuranceDekho
InsuranceDekho provides customers with factual information on the best insurance policy, which is suitable to their needs. It also enables customers to compare insurance prices of top insurance companies, before they settle for the quote that meets their needs and is pocket-friendly to them.
Amit Jain’s Family Life.
Amit Jain married his best friend, Pihu Jain, who works at Girnar Software Private company. The couple have twin sons namely Aahil Jain and Ayaan Jain. His wife comes from Bangalore, India, and Amit has never been shy to post pictures of his family on his social media pages. Pihu has been a great inspiration in Amit’s career journey, as she has always been by his side throughout the his journey. Even when Amit left his well-to-do job, Pihu still supported him in his dream to start his company. Even when things got worse and his company recorded a loss of INR 1 crore, Pihu still encouraged her husband that things will get better in future. Amit has attributed most of his successes to his wife, whom she has even nicknamed her the “Chief Happiness Officer” of his life. Amit has over 2.5K followers on X (formerly Twitter) and more than 112K followers on Instagram, where he shares his insights on his entrepreneurial success and his personal life.
Pihu Jain
Pihu is the beloved wife of Amit Jain, and she is currently the vice president of online marketing in her husband’s initial company, Girnarsoft. Girnarsoft has been developing software solutions for the automobile industry in India for years now. It has worked with dealers and manufacturers in the automotive industry to provide solutions such as dealer management systems (DMS), customer relationship management (CRM) software, and online marketing techniques.
Amit Jain’s Net Worth.
Amit Jain persistence and hardwork, especially to his company CarDekho, has enabled him to enjoy the lavish lifestyle he is living today. He is an established entrepreneur, so he is the proud owner of lavish mansions and several high-end cars. Amit Jain’s net worth stands at INR 2900 crores as of 2023 (approximately USD 35 million), and he is still pushing the limits. His company, CarDekho, is valued at USD 1.2 Billion, making him one of the richest “Sharks” in the popular show, Shark Tank India. Most of Amit’s earnings comes from CarDekho, but his other companies such as BikeDekho and InsuranceDekho have also given him good returns.
Shark Tank India.
Shark Tank India is a reality show that is being aired on the SonyLIV program, where pitchers have to convince several self-made Indian millionaires to invest in their businesses. These millionaires are judges, “Sharks”, with each looking for certain qualities before they commit their money to these businesses. This show primarily supports upcoming entrepreneurs, who are hoping to make it in the business world in future. The show premiered its first episode in December 2021, and it is in its third season.
Amit Jain joined the show as a “Shark”, as he replaced Ashneer Grover (Managing Director of BharatPe) in season two. Amit is the CEO and co-founder of CarDekho, and he has been openly sharing pointers to pitchers on how they can succeed in the business world. Amit’s journey has been no easy road, but his perseverance and determination saw him finally succeed in his business ventures. Amit has carved out a huge following by himself, with his unique style of making people a priority over business. He has even had a question-answer session in one of the episodes on Reddit, where he discussed his fellow judges and pitching entrepreneurs. Amit had even picked up a beef with one of the judges, Aman Gupta, but he had a sneaky reply when questioned by a fan. He is always impressed by the passion, persistence, humility, and hard work of entrepreneurs, who yearn to make their business to be better 10 fold. As an entrepreneur, you need to innovate ways, that will enable you to satisfy all the needs of your customers. Entrepreneurs need to address their customers’ needs early, to come up with solutions quickly. Amit also looks at the pitchers back story, and analyzes the measures put in place to tackle the ever changing challenges in business.
Amit has always desired that, gender inequality will eventually become a thing of the past. He has always encouraged upcoming female entrepreneurs since joining Shark Tank India, to push their boundaries and defy the odds, to make it in the male-dominated business arena in India. He has always given them free advice and invested in female-led startups, with many recoding a 4-fold growth to-date.
Amit Jain’s Investments.
Amit Jain has been a fan-favourite in Shark Tank India, and this has been due to his encouraging insights to upcoming entrepreneurs and his careful investments on the show. Listed below are some of the investments Amit made while being a judge on the show:
- INR 7.5 million in MOPP Foods during the seed round in January, 2023.
- INR 15 million in Snitch during the angel round in January, 2023.
- INR 5 million in Gladful, during the seed round in February, 2023.
- INR 20 million in Pharmallama, during the seed round in March, 2023.
- INR 4 million in Chefling, during the angel round in February 2024.
- INR 20 million in ReFit Global, during the angel round in February, 2024.
Challenges Faced by Amit Jain in his Journey to Success.
Amit Jain moved back to India from the US in 2006, after learning of his father’s illness. While he was back home, he joined hands with his brother to convert their small garage into a makeshift company. Their journey was a rough one, but they held on as it started expanded slowly. They even incorporated GirnarSoft, which is a software outsourcing company, but it did not reach the levels which Amit had targeted. They never lost hope, and it is after attending the 2008 Auto Expo is New Delhi, that they got the inspiration for the billion-dollar company, CarDekho. They still faced challenges with this company at first, and it is until after seven years that it states raking in profits.
Amit Jain’s Future Plans.
Amit Jain’s success story with CarDekho, has positioned him as one of the greatest pioneers of automobiles in India. His hardwork and persistence has made him a trailblazer in the Indian business field, and Amit has already set his sights on the South Asian and European markets. This success venture will not only benefit Amit, but it will also be of huge significance to the Indian economy. Amit’s company has gained enough exposure, and it has metamorphosised to fit the ever-changing Asian and European markets. Middle-income families have greatly contributed to CarDekho’s success, leading India to stand as the world’s third-largest automobile market. Amit has formed a habit of always coming up with innovative ideas to suit both the manufacturers’ and consumers’ needs, and this has always ensured that CarDekho’s revenue sores through the roof.
Amit Jain’s Achievements.
Amit’s achievements are greatly attributed to CarDekho which won:
- Gold at the Golden Cart Award.
- The Most Popular Website award in 2012.
- The Best Automotive Website award in 2019.