Press release from Business Wire India
Monday, February 07, 2011 11:38 AM IST (06:08 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Automotives, Business services, Information technology, Retailers; Technology; Automotive
CarWale Features in Red Herring’s Top Technology Companies List for the Third Time

Mumbai, Maharashtra, India, Monday, February 07, 2011 — (Business Wire India) — CarWale has been nominated in Red Herring’s Global Top 200 Companies list for the year 2010. This comes right on the back of winning the Red Herring Asia Top 100 awards in 2007 and 2009.

Mohit Dubey, CEO of CarWale,said “We are extremely proud and excited about this announcement. Winning 3 Red Herring awards in 4 years is a mark of distinction and prestige for us. This is yet another endorsement of our continued innovations in the online automotive space.”

CarWale is India’s No. 1 automotive portal engaging in an array of consumer-oriented processes. It is a one-stop site for an aspirational Indian car buyer, which is a growing number in the growing Indian economy. That the technological business model has been successfully accepted by consumers is proven by the fact that 15% of all Indian car buyers research their purchases on CarWale. This recognition by Red Herring only further acknowledges this fact.

Red Herring’s Global Awards have become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring was among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype,, YouTube, and eBay. “Choosing the best out of the previous three years was by no means a small feat,” said Alex Vieux, Chairman of Red Herring. “After rigorous contemplation and discussion, we narrowed down our list from 1,200 potential companies to 200 finalists.”

Each year, Red Herring shortlists the most innovative companies around the globe from a pool of thousands. Red Herring’s editorial staff evaluates the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the ‘buzz’ and make the list an invaluable instrument of discovery and advocacy for the greatest business opportunities from around the world.

About CarWale

CarWale is India’s No.1 Auto Portal and is backed by Axel Springer, one of Europe’s leading multimedia corporations and owners of AUTO BILD, the world’s largest selling automotive magazine; and The India Today Group India’s largest magazine publisher and owner of the leading Indian news channel AAJ TAK. In the last one year CarWale has served more than 10 million users. Since its inception, CarWale has been honoured with many prestigious awards including the Red Herring Asia Top 100 (in 2007 and 2009) and the PCWorld Web Award for best automotive website. In December 2009, TiE recognized CarWale as one of the Top 3 Innovative Enterprising Indian Companies that are ‘serving the Indian Consumer’.

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