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Quikr acquires Realtycompass to boost its real estate offering

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Online classifieds business Quikr has acquired real estate analytics startup Realtycompass to boost its offerings in the real estate space and also complement Quikr Homes, reports the Economic Times.

Started in 2013 by Nimesh Bhandari, Sankara Srinivasan and Alok Misra, Realty compass offers users ratings and user recommendations for real estate projects using more than 100 data points. The publication added that following the deal Quikr will continue to invest in Realtycompass and add project approvals, social sentiment analysis and user credit score among others.

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.

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.

Other acquisitions and investments 

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– Earlier this week, MediaNama reported that Quikr is likely to complete its acquisition of its real estate portal Commonfloor for $200 million. According to the source, the two entities (Commonfloor and Quikr) will continue to operate independently, and both brands will continue to exist.

– In November, Quikr acquired mobile real estate agent aggregator Indian Realty Exchange for an undisclosed amount. 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 October, Quikr made a strategic investment in Genesys International‘s venture AN Virtual Tech.

Other developments

– In November, Quikr signed a memorandum of understanding (MoU) with filmmaker Vivek Bohra and casting director Aadore Mukherjee, to launch a platform for actors, casting directors, and production houses. The company told MediaNama that the platform will bring together professionals from the film industry, and come up with solutions for the industry, which might involve creating an app.

– 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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