wordpress blog stats
Connect with us

Hi, what are you looking for?

Quikr acquires Grabhouse to offer managed house rentals

real estate

Quikr has acquired house rental and PG sharing platform Grabhouse for an undisclosed amount in an all stock deal, reports Mint. The report cites sources saying the deal was valued at $10 million. It’s worth noting that Grabhouse had raised $10 million in a Series B funding from Kalaari Capital and Sequoia Capital in October 2015, and then laid off over 100 employees in business restructuring exercise in December.

As of today, Grabhouse is operational in Bangalore, Delhi NCR, Mumbai, Chennai, Pune, Kolkata, Hyderabad and Faridabad. It was founded by Prateek Shukla and Pankhuri Shrivastava in March 2013. They’ll move to Bangalore, according to this Economic Times report

Grabhouse is Quikr’s eighth acquisition this year. Quikr will launch a managed rentals portal with the acquisition and also utilise Grabhouse’s user base to peddle its QuikrServices like bikes etc. Atul Tewari, Quikr’s COO, told Mint that the operational costs of Grabhouse would be shared with its service business. As of now, Grabhouse will operate independently and display listings from QuikrHomes and Commonfloor, which Quikr bought in January this year.

Quikr’s recent acquisitions

Quikr has been buying startups that fit in its services modules of jobs, services, automobile and real estate: In September, it acquired StayGlad, its third acquisition in the beauty and wellness space after previous acquisitions ZapLuk and Salosa. In the same month, the company acquired Stepni, an online platform that connected vehicle owners with mechanics, and launched an entertainment marketplace app called Dazzlr. In July, Quikr acquired Hiree, an online hiring platform focused on white-collar jobs for its QuikrJobs vertical.

Advertisement. Scroll to continue reading.

Quikr’s funding

In August this year, Times Group’s private treaty arm Brand Capital invested Rs 130 crore ($19.4 million) in Quikr through convertible debentures. Brand Capital subscribed to 143,000 convertible debentures at Rs 9,038.32 and bought one share priced at Rs 9,038.32 crore. Last year, Quikr raised $40.5 million from AB Kinnevik. In December 2015, the portal became available in multiple Indic languages.

Also read: Quikr’s Scanner device tracks location, performance & condition of cars

Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...

News

Releasing the policy is akin to putting the proverbial 'cart before the horse'.

News

The industry's growth is being weighed down by taxation and legal uncertainty.

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

You May Also Like

News

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...

Advert

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...

News

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...

News

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...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ