CarTrade’s IPO prospects and a vindication for Canaan Partners

CarTrade’s public listing opens the door for sane tech companies with proven business models to enter public markets.

Last week CarTrade, the used automobile sales company, filed its draft prospectus for an initial public offering. This is a big moment for India’s internet business ecosystem. Investors and analysts alike will now have a ringside view of how retail and institutional investors warm up to two very different tech startups. There’s CarTrade, an internet-dependent company with a sound and stable business model. And then there’s the unicorn Zomato, a loss-making consumer tech enterprise whose business model has shaky legs. 

We’ve written on the Zomato IPO before, so if you haven’t already read that, you must. Before we get …