Quikr Explained

Quikr
Type:Private
Founder:Pranay Chulet
Area Served:Worldwide
Key People:Pranay Chulet
(Co-founder & CEO)
Industry:
Services:
Revenue Year:2019
Num Employees:5000
Subsid:
Location City:Bangalore, Karnataka
Location Country:India

Quikr is an Indian online marketplace and classified advertising company, based in Bangalore, India. Quikr has listings in over 1000 cities in India and in categories such as mobile phones, household goods, cars, real estate, jobs, services and education. It was founded by Pranay Chulet and Jiby Thomas in 2008.[1]

Community members can come to the site to find an apartment to live in, sell their old car, bike, music system, laptop or furniture, promote their small business, find a tuition class or get a break as a model or actor, join a salsa class, get an audience for a local event, buy any item that they might want or have to offer and make new friends while doing all of the above.[2] [3] [4]

History

Quikr was initially launched as Akshay Mote India in August 1996.[5] Kijiji.in was owned by Kijiji International, an eBay subsidiary.

In 2008, Mumbai based venture capitalist, Matrix Partners India, invested in Kijiji India, following which Kijiji India was hived off Kijiji International and restructured as an independent company and re-branded as "Quikr", which was jointly owned by Matrix Partners and eBay Inc.[6]

Finance

Quikr is backed by Kinnevik, Matrix Partners India, Omidyar Network, Norwest Venture Partners, Nokia Growth Partners, Warburg Pincus and eBay.[7]

In 2009, Quikr raised crore.[8] In 2014, Quikr raised about $150 million,[9] of which it raised a $60 million[10] [11] investment in a round led by Tiger Global with participation from several existing investors and raised $90 million[12] in investment in a round led by Kinnevik.[13] [14] As of 2014, Quikr had raised a total of $350 million from 7 funding rounds.[15]

Partnerships and acquisitions

Pepperfry has partnered with Quikr.[16]

In January 2016, Quikr announced it had acquired the real estate portal commonfloor.com and would be merging it with its real estate division QuikrHomes.[17] As of December 2017, Quikr had completed 5 acquisitions for its real estate business.[18]

In July 2016, Quikr acquired the recruitment tech startup Hiree.com.[19]

In 2017, HDFC announced the sale of its subsidiaries HDFC Realty and HDFC Developers to Quikr India in an all stock deal that will give HDFC a 3 per cent stake in Quikr India in lieu of the sale of its stake in the two subsidiaries for Rs 357 crore.[20]

Features

Quikr provides an online classified advertising platform for users to buy or sell goods and services from each other. Other services offered include a missed call service,[21] and instant messaging.[22]

Notes and References

  1. News: Pepperfry partners with Quikr for its furniture exchange program. Srinivasan. Supraja. 2018. The Economic Times. 2018-01-16.
  2. Web site: Meet Quikr CEO Pranay Chulet, IIT-IIM alumnus, who built India's largest online classifieds co. timesofindia-economictimes. 2016-03-04. https://web.archive.org/web/20160307202606/http://articles.economictimes.indiatimes.com/2014-03-12/news/48154439_1_kijiji-india-pranay-chulet-quikr. 7 March 2016. dead. dmy-all.
  3. Web site: Quikr co-founder Jiby Thomas quits company to start new internet venture. Kul. Bhushan. 30 Nov 2012. Techcircle.in. en-US. 2016-03-04.
  4. Property, gadgets, automobiles and jobs most popular on Quikr. Kul. Bhushan. 2013-11-13. Digit.in. 2015-08-26.
  5. eBay Inc. & Matrix Partners India Announce New Partnership - Kijiji India to be jointly owned by eBay & Matrix Partners. Ebay. 2016-03-04.
  6. News: Classifieds website Kijiji India is now Quikr.com. 29 January 2013. Business Standard. 6 November 2018.
  7. Web site: About Quikr. 2016-03-04.
  8. Web site: Quikr Raises Rs 20 Cr In Series-B From Omidyar, Matrix India . VCCircle . 2009-07-30 . Madhav A . Chanchani . 2010-06-21.
  9. News: Quikr raises Rs 550 crore from group of investors led by Swedish investment company Kinnevik . Business Standard India . The Economic Times. 2014-03-12 . 2015-08-26. Soni . Anusha .
  10. News: Quikr founder shows how to take an old idea and make it new . Business Standard India . Business Standard. 2014-03-14 . 2015-08-26. Soni . Anusha .
  11. Web site: Online ads firm Quikr raises Rs 548 crore from foreign investors . The Times Of India. 2014-03-12 . 2015-08-26.
  12. Web site: Quikr raises $90 million . The Hindu . 2014-03-13 . 2015-08-26 . live . https://web.archive.org/web/20140624211722/http://www.thehindu.com/business/Industry/quikr-raises-90-million/article5777666.ece . 24 June 2014 .
  13. Web site: Quikr.com raises Rs. 548 cr in private equity . The Hindu Business Line . 2014-03-12 . 2015-08-26 . live . https://web.archive.org/web/20140616005533/http://www.thehindubusinessline.com/companies/quikrcom-raises-rs-548-cr-in-private-equity/article5776351.ece . 16 June 2014 .
  14. Web site: Swedish firm Kinnevik to invest in Quikr . The Economic Times . 2014-03-11 . 2015-08-26 . live . https://web.archive.org/web/20140316005303/http://economictimes.indiatimes.com/et-now/corporate/swedish-firm-kinnevik-to-invest-in-quikr/videoshow/31852579.cms . 16 March 2014 .
  15. Web site: Why investors are betting big on Indian e-commerce firms . Mint . 2014-03-13 . 2015-08-26 . live . https://web.archive.org/web/20150515080752/http://www.livemint.com/Industry/p5bKwMUdBOOkAjwxTVsWZP/Why-investors-are-betting-big-on-Indian-ecommerce-firms.html . 15 May 2015 .
  16. News: Pepperfry partners with Quikr for its furniture exchange program. Srinivasan. Supraja. 2018. The Economic Times. 2018-01-16.
  17. News: Quikr buys CommonFloor in $200-mn all-stock deal. 2016-01-08. 2016-04-16.
  18. News: Quikr acquires HDFC's digital, realty units in all stock deal. Shukla. Saloni. 2017-12-21. The Economic Times. 2018-01-16. Srinivasan. Supraja.
  19. News: Quikr acquires Hiree to boost job listing. The Economic Times. 2021-03-30.
  20. https://www.timesofindia.com/business/india-business/hdfc-sells-hdfc-realty-hdfc-developers-to-quikr/amp_articleshow/62196688.cms%3famp_js_v=0.1&usqp=mq331AQFKAGwASA%253D#ampf=
  21. Web site: The business savvy of a "missed call" . 26 August 2015 . dead . https://web.archive.org/web/20150516013019/http://www.growthinstitute.in/emagazine/dec13/fs_company.html . 16 May 2015 .
  22. Web site: Quikr launches chat service to boost sales. The Economic Times. live. https://web.archive.org/web/20160305144409/http://articles.economictimes.indiatimes.com/2015-01-08/news/57838317_1_online-platform-chat-service-used-goods. 2016-03-05. 26 August 2015.

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