After acquiring Arzoo.com, Parag Thakker, Managing Director, Shree Mahalaxmi Vacations, has invested in JustClickKaro.com, helmed by Navjot Bhasin.
Having grown his company considerably, Navjot Bhasin, Founder, JustClickKaro.com is proud to welcome its first investment partner on board. He said, “It gives me great pleasure to announce that Parag Thakker will be investing an undisclosed amount into the company. We will also be taking him as a full-time director on the board. Both of us will scale the company to new heights and bring in many surprises in the first year of operations.”
Echoing the same sentiments, Parag Thakker, Managing Director, Shree Mahalaxmi Vacations said, “The plan is to grow JustClickKaro.com to the next level. The investments are being made to grow the business. We are coming up with B2C portals and there is huge scope in packages that we are going to offer. We would also like to enter Tier-III, IV cities.”
The only thing missing with JustClickKaro.com was an investor to take it to new heights, exclaimed Bhasin. “All our competitors have an investor today. Getting to a bigger level includes IPOs and small acquisitions as well as a potential investor. This investment has given us a level-playing field with our competitors. It is time to take these products to the next level and work towards being industry leaders,” he added.
Having taken over Arzoo.com recently, this will be Thakker’s second investment this year. “JustClickKaro.com is already a brand in the market and to do business you need to have the right frame of mind of two persons who are going to work together. Navjot and I shared that instant connection to take this deal forward. While both Arzoo.com and JustClickKaro.com are similar, it gives us a major advantage if we go together to buy something as a unit for a bulk purchase. Secondly, we will have deep penetration as the latter has extensive reach in Tier-III, IV cities while Arzoo.com has good reach in metros. My idea is to cover the whole of India,” he shared.
In 2018, JustclickKaro.com recorded a revenue of ₹1,400 crores and this year it will close around ₹2,200 crores. “Last year, we had roughly 15,000-20,000 agents and this year we have more than 32,000 agents. More than 60 per cent agents are live on our website. This gives more reasons for agents to come and transact on our platform. Our target in 2019 is to grow the agent base from 32,000 to around 75,000. We will be looking at our turnover to get doubled in the coming years,” said Bhasin.