Meet the Latest Shark: Who is Amit Jain, the panellist who will replace Ashneer Grover in Season 2?

The promo for Shark Tank India season two is out and Ashneer Grover is nowhere to be found in it. Some fans say the show will not be the same without him.Amit Jain, the Chief Executive Officer (CEO) and co-founder of CarDekho, an online portal for buying and selling used cars, has apparently replaced Grover as one of the ‘Sharks’ on the show.The first season of Shark Tank India was a hit among the audience and the former BharatPe founder had amassed massive popularity as a Shark. Now, fans are not too thrilled about the new lineup of Sharks, with many demanding to bring back Ashneer Grover.Meanwhile the new panellist, Amit Jain has shared his excitement about being a part of the show. “Looking forward to mentor budding entrepreneurs on the show to build a new India,” he wrote on his LinkedIn.Let’s take a closer look.Who is Amit Jain?An alumnus of the Indian Institute of Technology Delhi, Amit Jain did his schooling at Jaipur’s Saint Xavier’s School.From 1999 – the year he graduated from IIT – to 2000, Jain worked as a Software Engineer at Tata Consultancy Services (TCS). Following his stint at TCS, he joined a Texas-based software company called ‘Trilogy’ as a Senior Associate in Austin.He returned to India in 2006 after his father turned ill. This is when Amit planned of creating an IT outsourcing company of his own from his hometown, Jaipur.Kick-starting his dream of establishing an IT firm, Amit and his brother Anurag Jain turned their garage into a makeshift company to launch ‘GirnarSoft’. According to a report by Startup Talky, the brothers soon hired a team of 20 people in their company. The initial years of the company were profitable. But soon, they lost around Rs 1 crore in stock. This did not stop Amit.In 2008, both Amit and Anurag got the idea of launching CarDekho after they attended that year’s Auto-Expo in Delhi. "Our goal was to leverage technology and provide the best-in-class car buying or selling experience to the users. We set up a portal where people could come to find the right information and review cars before making the decision of buying," Jain wrote on LinkedIn.According to a MoneyControl report, CarDekho turned profitable after seven years of its operations following which the company secured Series-A funding of $15 million in 2013.When asked if he plans to expand his company to other companies, Jain told Hindustan Times, “We are in South East Asia now. Indonesia, Malaysia, Philippines are three we have already been doing business in. It's been a good start.”About the companyCarDekho is a search venture that helps users to buy cars that fits their needs. The website and app carry automotive content like expert reviews, detailed specifications and prices as well as pictures and videos of all car models that are available in India.According to its official website, the company has joined hands with many automobile manufacturers and more than 4000 car dealers to facilitate buyers.Amit Jain claims that the company is currently valued at $1.2 billion.Jain aims to make car-buying experience even more hassle- free for users and turn CarDekho into one of the five biggest auto portals in the world. The brothers now want their business to meet a wider range of needs related to automotive lifestyles. Amit told Open Magazine, “We want the consumer to be with us through the entire eco-system, from buying to maintaining a car.”What happened to Ashneer Grover?In March this year, Ashneer Grover resigned from the board of BharatPe and left the managing director position after a period of turmoil with the board.In late January, Grover went on a voluntary two-month leave of absence after an alleged audio clip surfaced on social media where a man was heard hurling abuses and life-threatening statements over a phone call to a Kotak Mahindra Bank representative for not getting financing to buy shares in Nykaa’s IPO.This clip prompted BharatPe’s board to launch an investigation into financial irregularities charges against Ashneer Grover and his wife, Madhuri, who was the company’s head of controls.According to a report by Economic Times, a preliminary investigation revealed fraudulent transactions within the company following which the board decided to take further steps.A BharatPe spokesperson said, “Ashneer Grover resigned minutes after receiving the agenda for the upcoming board meeting that included submission of the PWC report regarding his conduct and considering actions based on it.”Twitter users react The promo of the new season of Shark Tank India showed a glimpse of the Sharks who will be investing in startups by budding Indian entrepreneurs.To the disappointment of many fans, Ashneer Grover was not part of the promo hinting his absence from the show.For some users, Ashneer Grover's exit from Shark Tank India opened a floodgate of memes.Another user said that Grover was the "only person who was real enough to show the real world of investments."With inputs from agenciesRead all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. 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