Online classifieds company Quikr announced that it has merged property portal CommonFloor with its real estate vertical QuikrHomes. MediaNama had confirmed the merger earlier in November and reports then had said that the size of the deal was $200 million. Following the merger, the companies will continue to operate as separate entities and the deal is expected to be completed over the next two or three months. The deal will give CommonFloor access to Quikr’s 30 million users and expanded scope across Quikr’s four other verticals. QuikrHomes currently is present in over 1000 cities and towns across India and it helps conclude 2 lakh plus transactions per month. QuikrHomes is one of the key verticals for Quikr with 35% of its revenue coming from this vertical. CommonFloor has over 5 lakh active property listings from over 200 cities, and over 1 lakh residential projects listed. Quikr launched QuikrHomes in September 2015 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. Earlier in January, CommonFloor raised $15 million in a funding round led by Google Capital. At the time, Jain said that they would be using the money raised in improving its platform for both buyers & sellers. Denials in the media It's worth noting…
- Is age-verification the answer to protecting children from online harms? #NAMA March 30, 2023
- Here are 6 ways the Indian government is collecting your facial data March 30, 2023
- India’s telecom regulator Directs Telcos to Report Major Network Outages March 30, 2023
- No report available on economic cost of internet shutdowns in India: Telecom Dept in Parliament March 30, 2023
- MediaNama Daily: Fraud vs Fintech March 30, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
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...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
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...
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...