Online classifieds site Quikr has acquired Stepni, an online platform that connects vehicle owners with mechanics, garages, car accessory outlets etc. for an undisclosed amount. The acquisition will allow the classifieds provder to enhance its used automobile classifieds vertical QuikrCars, and for providing automobile maintenance services under QuikrServices. Stepni’s founders and entire team will now join QuikrCars.
Quikr will integrate Stepni’s entire operations into QuikrCars; consumers will be able to shortlist and avail automobile service providers for vehicles within 5 kms of their location through the integration. Stepni currently lists over 125 such service providers in Bangalore city.
QuikrCars which was launched in August last year, currently claims to have over 1.5 million vehicles listed on its platform across India. Users can search for and buy new and used cars, bikes and other vehicles like trucks. The service also offers RTO assistance and a vehicle discovery feature that displays recently posted and trending vehicle models around a particular user’s location.
Previous Quikr Acquisitions
– Last month Quikr acquired on-demand beauty & wellness services startup ZapLuk for an undisclosed amount to expand its home beauty services brand AtHomeDiva.
– In July, Quikr acquired Hiree, an online hiring platform focused on white-collar jobs, for an undisclosed amount. The acquisition allows it to strengthen job vertical portal QuikrJobs.
– In May, Quikr had acquired on demand beauty services provider Salosa for an undisclosed amount to expand its personal care listings under its QuikrServices offering, while entering into newer cities.
– In January, Quikr acquired CommonFloor and merged it with its real estate vertical QuikrHomes. MediaNama had confirmed the merger earlier in November. However in this month, Quikr shut down offices of CommonFloor-owned roommate finder and home rental app Flatchat; an ET report said employees were given an option to quit without any severance pay, or move into another vertical under Quikr.
– In December last year, Quikr acquired the real estate analytics startup Realtycompass to boost its offerings in the real estate space.
– In November 2015, Quikr acquired mobile real estate agent aggregator Indian Realty Exchange for an undisclosed amount.
– In October 2015, Quikr made a strategic investment in Genesys International‘s venture AN Virtual Tech.
Quikr Funding and Financials
Last week, Times Groups’s private treaty arm Brand Capital had invested Rs 130 crore ($19.4 million) into Quikr through convertible debentures. This was an ad-for-equity deal. In July 2015, the company raised $150 million from Tiger Global and AB Kinnevik to invest in its mobile business and strengthen its hold in categories like goods, cars, real estate, jobs and services. AB Kinnevik put $40.55 million in April during the same round of investment. The company’s financials up to 2014: