Magicbricks, a classified real estate listing platform, has announced the appointment of Mayank Jain as Chief Executive Officer (CEO), effective October 1st.
In a statement published on Friday, Magicbricks, one of the leading real estate platforms, reported that Jain is moving from CarDekho, where he worked for over five years as CEO of the automotive classifieds division.
Mayank Jain possesses over two decades of experience in digital technology, media, technology, and consumer business sectors. The company noted that at Magicbricks, he will focus on accelerating the next phase 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, improving operational and financial performance, and further solidifying Magicbricks' position within India's evolving real estate ecosystem. The company also added 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 from the Magicbricks office in Noida and report to N Subramanian, Executive Director and Group CEO of The Times Group. Magicbricks stated that the company's monthly traffic exceeds 20 million visitors, and its active real estate listing base comprises over 1.5 million listings. The company positions itself as a full-service provider for all real estate needs, offering services such as home loans, interior design, and expert consultations.