Update: Quikr confirmed to MediaNama that Sean Blagsvedt and Vir Kashyap are moving out of the company and will be starting their own ventures. They will retain an advisory role. “We have great respect for the business and brand that the Babajob team has built. This move takes our market leadership in the blue collar jobs industry to a different level in empowering millions of people,” Amit Jain, head of QuikrJobs said in an email. However, they declined to give further details of the deal, including the size.
Continuing its acquisition spree, Quikr has now acquired Bangalore-based blue and grey collar job portal BabaJobs, a spokesperson confirmed to MediaNama. This is the twelfth acquisition by the company in the last one and half year.
Sean Blagsvedt, co-founder of BabaJobs, told Yourstory that Quikr and Babajobs will be a combined entity. Blagsvedt also confirmed to the publication that he and Vir Kashyap, co-founder of BabaJobs, will move out to pursue other opportunities and retain an advisory role in Quikr. We have written to the company for further details and will update as we hear from them.
Quikr has a vertical called QuikrJobs that initially focussed on blue collared jobs only and the acquisition of Babajobs can help them further strengthen the vertical. Over 75% of QuikrJobs is in the blue collar market. The vertical sees 5 million applications per month and has recorded a 3X growth in revenues within the jobs vertical in 2017, Quikr told MediaNama in May this year. However, with the acquisition of Hiree, it entered the white collared job market as well.
Funding: In April 2015, Babajob secured $10 million minority investment from SEEK Limited. In June 2012, it had raised an undisclosed amount as Series A from Gray Ghost Ventures and Khosla Impact as per CrunchBase.
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.
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. It also acquires Zimmber a home service provider under the services vertical.
–Hiree was acquired under QuikrJobs.
– QuikrCars acquired Stepni