Magicbricks, one of the leading real estate portals, has appointed Mayank Jain as its Chief Executive Officer (CEO) starting October 1st.
In a statement published on Friday, Magicbricks announced that Jain is moving to them from CarDekho, where he worked for over five years as the CEO of the auto classifieds department.
Mayank Jain has over two decades of experience in digital technology, media, technology, and consumer business sectors. The company noted that Mayank will focus on accelerating the next stage of company growth by leveraging its digital capabilities, promoting technology-driven innovations, and strengthening the customer-centric approach.
His main responsibilities will include driving business transformation, enhancing operational and financial efficiency, and further solidifying Magicbricks' position in India's evolving real estate ecosystem.
It was also mentioned that Jain holds an MBA from INSEAD, a PGDM from Management Development Institute (MDI), Gurgaon, as well as a degree in computer engineering. He will work at the Magicbricks office in Noida and report to N Subramanian, Executive Director and Group CEO of The Times Group.
Magicbricks reported that the company's monthly traffic exceeds 20 million, and its active database of real estate listings amounts to over 1.5 million. The company has transformed into a full-service provider for all real estate needs, offering services such as home loans, interior design, and expert consultations.