Who is Sami Alam?
Sami Alam is recognized as a distinguished tech leader with over two decades of experience in various domains, including digital transformation, technology architecture, eCommerce, fintech, consumer-facing products, supply chain technologies, and data analytics.
Cars24 said he has a versatile skill set and has been instrumental in designing and developing scalable, world-class products across different industries and geographies. Sami is an alumnus of the Indian Institute of Technology (IIT) Delhi.
Sami Alam’s role in Upstox
Prior to joining CARS24, Sami worked at Indian stock brokerage firm Upstox, where he contributed to the development and delivery of significant features and products like the Upstox Pro mobile app, Upstox API, and Upstox Web Platform. He first joined the firm in March 2021.
Apart from Upstox, He has led several roles in renowned companies like Flipkart, Microsoft, Starent Networks, and Vihaan Networks. He was also a software engineer in Reliance Communications.
What will his responsibilities be at CARS24?
According to CARS24, Sami will lead the engineering team and will be responsible for driving innovation and enhancing the company’s technological prowess.
He will oversee engineering for CARS24’s financial arm, CFSPL, and will work closely with the business, growth, and product teams to align technology with the company’s strategic objectives.
Marut Singh, Chief Technology Officer at CARS24, said, “We are thrilled to welcome Sami Alam to our family. His extensive experience and leadership in technology feel like having a skilled mechanic who will fine-tune our engine for peak performance.” Sami Alam, reflecting on his new journey, mentioned, “Joining this team feels like stepping into the driver’s seat of a high-performance sports car, and I’m eager to accelerate our journey towards building the world’s largest autotech company.”
CARS24 was founded in 2015 by Vikram Chopra, Mehul Agrawal, Gajendra Jangid and Ruchit Agarwal as a platform to buy and sell used cars.
Since then, the company has expanded its presence in India, the UAE, Australia, and Thailand and remains committed to delivering unparalleled value to its customers through continuous innovation and enhancement of user journeys.
Sami Alam said, “I’ve witnessed the incredible transformation CARS24 has brought to the used car industry. Joining this team feels like stepping into the driver’s seat of a high performance sports car, and I’m eager to accelerate our journey towards building the world’s largest autotech company’
The growing online car-buying market in India
The online car buying market has seen significant growth in recent years, driven by the convenience and ease of use offered by online platforms. It's worth noting that the COVID-19 pandemic has accelerated the trend towards online purchases, increasing online penetration and changing consumer behaviour.
The global online car buying market was valued at $237.93 billion in 2020 and is projected to reach $722.79 billion by 2030, registering a CAGR of 12.2% from 2021 to 2030.