wordpress blog stats
Connect with us

Hi, what are you looking for?

Quikr makes strategic investment in Genesys arm A.N. Virtual Tech

google maps

Online classified portal Quikr has made a strategic investment in Genesys International‘s venture AN Virtual Tech. The development was disclosed in Bombay Stock Exchange notification. Genesys is the parent company of street-view and mapping portal WoNoBo.

Genesys primarily works in the overseas market as a Geographical Information Systems (GIS) outsourcing company. It has worked for Microsoft’s search engine Bing and NAVTEQ. The company also works in areas like imagery acquisition, photogammetry, remote sensing, and data conversion among other things.

WoNoBo added a property section in May 2014, allowing users to virtually navigate through streets and search for residential and commercial properties up for sale or rent. It also offers a street-view like 3D navigation within individual apartments and a 360 degree virtual preview of under-construction projects.

“This investment by Quikr is a strategic move as it deepens its offerings in several verticals and consolidating its position in the online classifieds industry,” Genesys added in the notification.

Quikr Homes: Earlier in September, Quikr launched a real estate focussed portal called Quikrhomes. Quikr first mentioned in April that it would launch such a real estate focused portal. Interestingly, Quikr had said then that the value of real estate related transactions was worth 50% of all the transactions on the platform. It said that every month, there were 2 lakh real estate related transactions on its platform, and that the site had (at the time) 20 lakh active real estate listings.

Advertisement. Scroll to continue reading.

Genesys financials: For the quarter ended June 30, Genesys reported a net profit of Rs 3.17 crore for the quarter ended June 30,2015, a jump of 81.59% from Rs 1.74 crore from the same quarter last year.Net profit at the company was mainly boosted by other income at the company which stood at Rs 2.20 crore for the quarter compared to Rs 0.59 crore in the same quarter last year.

Operational income, however, stood at Rs 13.28 crore, a decline of 16.19% from Rs 15.96 crore in the same quarter last year. On a quarterly basis, the operational income dipped by 5.67% from Rs 14.07 crore in the previous quarter.

Reports on Quikr buying Commonfloor: Earlier in the day the Times of India reported that Quikr was buying realty portal CommonFloor, and that the company was being valued at $1.5 billion.The CommonFloor deal was pegged at $160 million, is likely to have an 80% stock and a 20% cash component, the publication said citing sources.

However, CommonFloor founder Sumit Jain has denied the reports that such a deal was in place.

Advertisement. Scroll to continue reading.

Written By

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



Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.


Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.


This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.


It is widely argued that the PDP Bill report seeks to discard the intermediary status of social media platforms but that may not be...


Looking at the definition of health data, it is difficult to verify whether health IDs are covered by the Bill.

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