INTERVIEW: The CEO of the biggest startup in the used car e-tail explains why he is skipping the 2021 IPO frenzy

• Cars24 has confirmed that it will be looking to hit the public market in the next 18-24 months.
• The company recently raised $450 million, which will be used for international as well as indian expansion.
• The CEO believes that rising inflation, particularly in the cost of making a car, may drive demand for used cars sold online.
• Check out the latest automobile news and analysis on Business Insider.

While CarTrade.com has already become a listed stock in August 2021, Droom’s founder Sandeep Aggarwal has filed the necessary paperwork for the initial public offering (IPO).

In a year that has seen an IPO craze like never before ⁠— 69 companies have completed their first share sale and listed in 2021 so far — startup unicorns (valued over a billion dollars) Cars24 and CarsDekho seem to be in no rush to tap into the frenzy.

In a conversation with Business Insider Cars24’s chief executive officer (CEO) Kunal Mundra said that the IPO may take anywhere between 18 and 24 months.

Mundra of Cars24 — which is valued at $1.85 billion, the highest among all automobile ecommerce players — shares his thoughts on why he is willing to wait and a lot more about the company’s plans going forward.

These are the edited excerpts from the interview: