Naspers arm buys majority stake in auto portal firm Gaadi

MIH Group, a subsidiary of the South African media group Naspers, has acquired a majority stake in Gaadi Web Pvt Ltd, which runs the auto classifieds site Gaadi.com.

February 21, 2011 / 17:15 IST

MIH Group, a subsidiary of the South African media group Naspers, has acquired a majority stake in Gaadi Web Pvt Ltd, which runs the auto classifieds site Gaadi.com. The deal amount and terms were not disclosed by the company.

Umang Kumar, co-founder, Gaadi Web Pvt Ltd, will take over as CEO from Vivek Pahwa, who will transition to a strategic role. Gaadi Web Pvt Ltd was founded in 2007 by Gurgaon-based Accentium, which also runs SecondShaadi.com, StudyNation.com and sold the social networking site DesiMartini to HT Media

first published: Feb 21, 2011 04:52 pm

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