MS Dhoni invests in used-car company Cars24

  • As part of the partnership, Dhoni will own equity in Cars24 and will act as its brand ambassador
  • The company recently announced its foray into the franchise model and intends to scale up its presence in 300+ tier two, three, and four markets by 2021

Nandita Mathur
Updated13 Aug 2019, 11:05 PM IST
MS Dhoni
MS Dhoni(Reuters file)

New Delhi: Gurugram-based CARS24, one of India’s fastest growing tech-enabled used car companies, has announced a strategic partnership with cricketer Mahendra Singh Dhoni, in a move to strengthen the brand as it continues to expand across markets. As part of this partnership, Dhoni will own equity in CARS24 and will act as its brand ambassador. His investment, the quantum of which was not disclosed, was part of the series D round of funding.

Talking about the partnership, Vikram Chopra, co-founder and CEO, CARS24 said, “We are very excited to welcome Mahi into the CARS24 family. He is a role model and hero to most Indians. His ability to constantly evolve, innovate and find solutions to every problem thrown at him over the years have made him the most celebrated captain in the Indian history. It’s the same of values that we live by at CARS24 and therefore the partnership felt natural and perfect. We also share a common love for cars which makes this even more special.”

Committed to simplifying the process of buying and selling pre-owned cars in India, CARS24 has invested immensely in data and technology to provide consumers with a reliable, dependable and trusted solution. The company believes that Dhoni’s credentials, recognition and traits, on and off the pitch, makes him the perfect face for CARS24 and will strengthen the company’s endeavor to become India’s most trusted brand for pre-owned car sales.

Commenting on his association with the brand, Dhoni said “I am thrilled to be part of the CARS24 journey. Besides being a fan of all things to do with cars, I am also a fan of new age companies that are disruptive, innovative and shaping the future. CARS24 is definitely one of these companies. They have big ambitions and I am excited to work with them and help them achieve their goals.”

Founded in 2015, CARS24 is the largest platform for buying and selling cars in India, having revolutionised the way pre-owned cars are sold in India. The company recently announced its foray into the franchise model and intends to scale up its presence in 300+ tier two, three, and four markets by 2021.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.MoreLess
First Published:13 Aug 2019, 11:05 PM IST
HomeCompaniesStart-upsMS Dhoni invests in used-car company Cars24

Most Active Stocks

Tata Steel

167.05
03:57 PM | 16 JUL 2024
0.25 (0.15%)

Oil & Natural Gas Corporation

322.40
03:58 PM | 16 JUL 2024
-0.15 (-0.05%)

Bandhan Bank

198.30
03:41 PM | 16 JUL 2024
2.95 (1.51%)

Coal India

512.35
03:59 PM | 16 JUL 2024
14.4 (2.89%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Natco Pharma

1,281.05
03:59 PM | 16 JUL 2024
73.2 (6.06%)

Century Textiles & Industries

2,217.55
03:48 PM | 16 JUL 2024
116.85 (5.56%)

Tata Teleservices Maharashtra

81.33
03:54 PM | 16 JUL 2024
4.23 (5.49%)

India Cements

323.05
03:55 PM | 16 JUL 2024
15.8 (5.14%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    75,246.00928.00
    Chennai
    75,099.00344.00
    Delhi
    74,806.00-460.00
    Kolkata
    75,466.00419.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.76/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsCibilPremiumMint Shorts