Commonfloor has informed MediaNama that it is currently in the process of raising funds and it has multiple options on the table. This statement follows a story in VCCircle which states the company is finalizing a deal to be acquired by Quikr for $112 million in a stock and cash deal. NextBigWhat had also reported that the company had been acquired by Quikr, citing sources, and said it was an all-equity deal valued at around $200 million. Note that although CommonFloor has not explicitly denied any deal with Quikr, their statement (below) indicates that they're raising funds, thereby suggesting that the acquisition has not been closed yet. Contradicting Commonfloor's official statement, a company source has told MediaNama that the acquisition is taking place, positioning the acquisition as a merger. According to the source, the two entities (Commonfloor and Quikr) will continue to operate independently, and both brands…
- PrivacyNama Session: Privacy, Children and Access to Services; October 6 October 3, 2022
- Summary: ONDC seeks feedback on trust-building measures in latest consultation paper October 3, 2022
- RBI has the powers to regulate payment aggregators: Delhi High Court October 3, 2022
- “Security Concerns” Prevented Meta from Releasing Full Report on Impact of Hate Speech on India October 3, 2022
- Meta Faces Allegations of Non-Consensual Interception of Browsing Activity in New Class-Action Suit October 3, 2022
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