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Quikr acquires Indian Realty Exchange to bolster its realty vertical

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Online classified service Quikr has acquired mobile real estate agent aggregator Indian Realty Exchange for an undisclosed amount, reports the Economic Times. The company said that the deal will help bolster its recently opened marketplace for homes QuikrHomes. With the acquisition, it will allow Quikr to go deeper into the real estate market and increase long-term engagement with the broker community.

Founded earlier this year by Vikram Dhawan and Karan Jindal, Indian Realty Exchange tags agents and brokers with real time projects and locations and helps users connect with them to buy and sell property.

In April, Quikr had raised $40.5 million from AB Kinnevik and had said that it would use the funds to invest in its mobile business and strengthen its hold in categories like goods, cars, real estate, jobs and services.

Quikr launched QuikrHomes in September and the portal allows users search for residential, commercial or agricultural properties to either buy or rent, in various cities like Pune, Delhi, Chennai, Bangalore, Mumbai and Hyderabad. Quikr had made the announcement in April for the realty portal and at the time had said there were 20 lakh active real estate listings and had accounted for 50% of the transactions on the portal.

CommonFloor acquisition

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Earlier in October, the Economic Times had reported that Quikr was in talks to buy Bangalore-based realty portal CommonFloor, although co-founders Sumit Jain and Vikas Malpani took to Twitter to deny the reports.

In September, it was also reported that Quikr was in talks to acquire Mumbai-based realty portal Housing during the height the Rahul Yadav ouster from the company.

Other developments

– In late October, Quikr launched Quikr Services a vertical which will focus on the unorganised sector of service providers in the country, to provide access to buying, rental and leasing across home, travel, financial, health, fitness, beauty and events services.

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– In the same month, Quikr made a strategic investment in Genesys International‘s venture AN Virtual Tech.

– In August,  launched QuikrCars where users can search for and buy new and used cars, bikes and other vehicles like trucks by budget, last week. The vertical shows listings of sellers, popular cars near you, reviews and videos.

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