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    Average unicorn time for startups down to 5.5 years: Report
    India ranks third on the list of most unicorns birthed by a country, but only two companies hit the $1-billion-plus valuation last year. The new economy of startups had contributed 15 public listings so far, the report added.
    CarTrade Technologies open to further acquisitions to fast-track expansion plans
    The integration with OLX, CEO Vinay Sanghi said, has also helped more than double the average number of unique visitors to 68 million per month, with 90% of these coming in organically. While auto still continues to comprise 80% of revenues at the Group, Sanghi said the focus will also be on expanding non-auto business verticals going ahead.
    CarTrade's Sobek shuts customer-to-business operations, shifts focus to classifieds business
    Sobek Auto’s C2B transaction business struggled with its unit economics. The company aims to reduce both human resource and other administrative costs and to explore partnership opportunities with other players.
    Dutch online marketplace OLX contributing to EU antitrust probe into Meta
    The European Commission has accused Meta of gaining an unfair advantage by tying its classified advertisements service Marketplace with its social network Facebook and imposing unfair trading conditions on rival online classified ads services.
    CarTrade Tech says it owns classifieds platform OLX’s entire India business
    The company had earlier said that it was acquiring 100% of Sobek Auto India Pvt Ltd, the entity that houses OLX India's auto business, but added in a new statement that Sobek also consists of the OLX classifieds platform.
    CarTrade Tech shares jump 17% on acquisition of OLX India’s auto business
    The cost of acquisition of Sobek will be for a consideration of Rs 537.43 crore which is to be paid on the completion date of the acquisition, the company said in a filing to the exchanges. The nature of consideration is cash, the filing added.
    The Economic Times
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