Mumbai : 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, Salesforce.com, 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.