Just after announcing a fund-raise of Rs 55 crore last week, classifieds platform Quikr has acquired Chennai-based real estate listings platform India Property to grow its business and expand its classifieds base. It is unclear whether India Property will be a separate brand under Quikr or if it will be merged into Quikr Homes. India Property claims to have 600,000 properties and 8000 ‘verified’ builder projects across 15 cities in India. The company said it monetizes on both the demand and supply sides and offers search, financing and transactions. The company also claims to have ‘street-level transaction data’ for residential properties in 5 million properties in South India. It is unclear what this means, given that the company claims to have 600,000 property listings in all. India Property has been backed by Bertelsmann India Investments and Mayfield. Meanwhile, Quikr currently claims to have: 30 million monthly unique users Presence in 1200 cities in India Quikr’s real estate business The company now claims that its real estate vertical is profitable and contributed to 35% of its revenues in FY17-18. Moreover the company expects the vertical to double in FY18-19. It claims to have 70,000 tenants (as of November 2018) in its co-living vertical. It has another vertical which offers brokerage for buying property. Quickr launched its real estate vertical ‘Quikr Homes’ in September 2015. India Property is the company’s latest investment in another existing real estate property. December 2015: It acquired real estate analytics startup Realtycompass, which offered user ratings and recommendations for…
