India: Car breakdown service firm Crossroads buys garage aggregator MeriCAR

Roadside assistance services provider Crossroads India has acquired online car garage aggregator MeriCAR.com, according to a report by Press Trust of India quoted in Livemint.

While the financial details of the deal were not disclosed, the move, aimed at expanding Crossroads’ network across the country, will help the company surpass 1,000 branded garages.

The company aims to grow the number of branded garages to 5,000 in the next two years.

“This acquisition would help us build a branded garages network across India using MeriCAR’s existing network infrastructure,” Crossroads chief operating officer Puneet Sharma said.

Post the acquisition, MeriCAR’s team has joined Crossroads, which will enable the company to hasten its garage aggregation process, seen as a key growth driver going forward, said Sharma.

As part of the deal, MeriCAR.com founder Rakesh Sidana will be joining Crossroads and will head a newly created vertical—point of sales and services network.

MeriCAR, touted as India’s first online car garage aggregator, was established in 2008 with a listing model.

“Currently, we have 500-plus employees along with affiliated 30,000 partner network and our target is to reach the 1,500 plus employees with the 50,000 partner network mark by 2017,” Sharma said.

Crossroads started operations in 1999 and has a business to consumer operations in 12 cities and network presence in 30 cities across the country.

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.