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Classifieds Biz Quikr Raises $6 Million Series C Funding Led by Norwest Venture Partners


Quikr Mauritius, the holding company for free online classifieds business Quikr, has raised $6 million in a Series C, third round of funding, led by Norwest Venture Partners (NVP), and returning investors, Omidyar Network, Matrix Partners India and eBay Inc. In July last year, Quikr had raised Rs. 200 million in its Series B round; so far, it has raised in excess of Rs. 500 million in funding.

Quikr competes with other free online classifieds businesses – Rediff LocalAds, Sulekha, Greynium owned Click.in, Nexus India Capital funded Olx.inClickIndiaHTClassifieds.com, among others. To say that the free online classifieds space in India is crowded, would be an understatement.

Quikr offers a web-based classifieds platform covering 40 cities across India. It claims to be the largest player in this space, with over 8 million consumers visiting the site every month. At the time of its last round of funding, the company covered 18 cities in India, and claimed 1.5 million users.

What has caused this free classifieds boom, where is the money being spent, how are these sites being monetized, and where will Quikr’s investors get an exit? We’ll try and get some answers from Quikr.

Related:
– Classifieds Site OLX Raises $5 Million From Nexus India Capital
– Sulekha Asks Users To Pay a Tip; IPO May Not Happen; Consolidation On The Cards
HT Media Launches Classifieds Site AskHT; Conflict Of Interest?


  • Yash

    Frankly, almost all the names you mention in competition barely make it to my radar, and trust me, I have been around for some time. I think this is simply another case of 'worked well enough in the US, so will work here too" funding. Indian media businesses are not exactly dying off due to loss of classifieds business yet. If anything the supplements have been growing thicker recently. So another Smsgupshup type case of revolving topis perhaps?

  • amar

    Money down the drain. Why would a classifieds site depend on serving Adsense Ads if it had any bplan to begin with.

  • Pranav

    Quikr has about 4m visits a month, 3 million uniques, 10.8 million page views a month according to the public research tools.

  • Kamat

    Vizisense seems to be broken. http://www.vizisense.com/sites/quikr.com shows very low numbers for quikr.

  • Wondering?

    Norwest funding Sulekha seems very odd – I am surprised no one has covered this angle to the story – Norwest is already invested in the classifieds space through Sulekha – it is not common to see a VC invest in the same sector via 2 different companies – ofcourse Norwest might be hedging its bets – but I am wondering what Sulekha thinks about this move.