wordpress blog stats
Connect with us

Hi, what are you looking for?

Quikr raises $90M from Kinnevik & others

quickrClassifieds website Quikr has raised $90 million in a round led by Swedish investment firm Kinnevik, which the company is expected to use to fund its expansion, reports Economic Times. Existing investor Warburg Pincus made the initial investment in the round in September last year, and the latest deal was signed last week, giving Quikr a valuation of over $250 million.

Kinnevik has invested in Rocket Internet in the past and has a 24% stake in the company. In the e-commerce space, Rocket Internet has properties such as Jabong.com and FabFurnish in India.

Quikr is a horizontal classifieds platform which allows individuals and small businesses sell, buy, rent or find products and services across various categories like electronics, cars, bikes, real estate, services, jobs, education and entertainment. The company claims to have 32 million monthly unique users and caters to almost 1,000 cities in the country. According to the ET report, it has an estimated revenue run-rate of $50 million from premium listings, leads generation and advertising. It recently tied-up with product comparison site Junglee.com to display second hand products from Quikr on the Amazon-owned website.

Quikr had raised $32 million in a round led by eBay in 2012, with Warburg Pincus and other existing investors such as Matrix Partners India and Norwest Venture Partners. In May 2011, it had raised $8 million from Nokia Growth Partners (NGP), and returning investors, Norwest Venture Partners and eBay Inc. It had also raised $6 million from Norwest Venture Partners (NVP), and returning investors, Omidyar Network, Matrix Partners India and eBay Inc, in March 2010. Overall, the company had raised around $150 million in various funding rounds in the past. It was initially funded by Matrix Partners India.

Quikr competes against eBay India, Naspers backed OLX, and Sulekha. It also competes with vertical specific sites like Gaadi.com or 91mobiles. In the consumer electronics space, e-commerce companies such as Flipkart and Snapdeal have tied-up with companies such as ReGlobe to buy back products and offer in-house credit for buying newer products. However, ReGLobe cover only a limited set of devices and the prices offered is not that great most of the time, but it is much more convenient for shoppers compared to selling it on a classifieds website.

Advertisement. Scroll to continue reading.
Written By

I'm passionate about technology and gaming. You can follow me <a>@chupchap</a>

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?


A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'


India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...


There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data


Existing consumer protection regulations are not sufficient to cover the extent of protection that a crypto-investor would require.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ