Cars24 Strengthens Online Presence with Team-BHP Acquisition

India-based online auto marketplace Cars24 has acquired Team-BHP, an established auto community forum, for an undisclosed amount. Cars24 has committed that the forum will continue operating independently under its founding team and shall maintain its zero-sponsored-content policy. The acquisition aims to bolster Team-BHP’s tech and AI capabilities to enhance user experience. Vikram Chopra, Cars24’s CEO, asserts this represents a long-term investment in enhancing dialogue within India’s automotive sector. Team-BHP founder Rush Parekh expressed enthusiasm about using Cars24's tech resources for fostering growth without compromising the forum's independent and credible voice. Established in 2004, Team-BHP has garnered a strong following among India’s automotive enthusiasts due to its authentic user-driven content. The acquisition comes amid a competitive landscape, with Cars24 rival Spinny and CarDekho Group investing in parallel auto content platforms in the region. Cars24, founded in 2015, initially operated as a B2B marketplace and transitioned to a C2B2C model, reporting substantial revenue and planning an IPO. The company has also launched innovations such as a driving school chatbot and diverse financing services.