Online classifieds portal Quikr has acquired Zimmber, an on-demand home service provider under its vertical QuikrServices. The deal is pegged at $10 milllion in an all-stock deal as indicated by this Mint report. As a part of the acquisition co-founder Amit Kumar and chief product officer Siddhartha Srivastava along with the team will continue to work with the company under the umbrella of Quikr. Other co-founders, Anubhab Goel and Gaurav Shrivastava will move out to pursue other interests.
Zimmber provides on-demand home services such as plumbing, carpentry, pest control, deep cleaning, sofa and carpet cleaning etc.It is currently operational in Bangalore, Mumbai, Navi Mumbai, Delhi-NCR and Pune. It claims to have 1500 service providers onboard serving over one lakh customers.
The home services marketplace has been seeing a consolidation in recent times. Earlier in the day, we reported HouseJoy shut down its services in seven cities. Meanwhile, Tiger Global-backed LocalOye has started focussing on its B2B business and scaled back operations. Paytm was reportedly supposed to enter the home services category with its acquisition of Near.in.
Note last year Zimmber went on an acquisition spree as well and had acquired FindYahaan to strengthen its white collar service listings. Around the same time, it had also acqui-hired Mumbai-based laundry service Dhulai.
In July 2015, Zimmber raised pre-Series A funding worth $2 million from IDG ventures and Omidyar Networks. In January 2015, it raised an undisclosed amount in funding from Praveen Sinha, the then India head of Jabong, and an unnamed senior executive from Godrej Group.
Acquisitions by Quikr
Quikr in the past one years has been making various acquisitions under different verticals. For services, it acquired beauty services company Stayglad, Salosa and Zapluk and subsequently launched its own beauty services brand AtHomeDiva. Other vertical acquisitions include.
–Hiree was acquired under QuikrJobs.
– QuikrCars acquired Stepni
-Quikr launched Dazzlr, jobs marketplace for entertainment industry
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.