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CommonFloor likely to be acquired by Quikr: Sources

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 will continue to exist. In a sense it will be similar what happened to Flipkart acquired Myntra, where Flipkart owns Myntra, but the latter continues to exist as a separate site. VCCircle also added that Commonfoor's founders, Sumit Jain, Vikas Malpani and Lalit Mangal would not leave the company following the deal. CommonFloor's statement: "We are in the middle of fund-raising, and there are multiple options on the table. We have not yet finalised one. We are working at multiple levels to ensure our growth takes place in a sustained manner. As a company policy we do not comment on speculations, therefore kindly hold on as we will inform all the stakeholders when the…

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