Top News

Online classified site Quikr valued around $890 mn in latest funding round

Quikr, which raised $150 million in fresh funding from existing investors besides a new investor Steadview Capital Management, was valued at around $892 million, as per a note by its Swedish investor Investment AB Kinnevik.

Kinnevik said its own stake had an implied value of $158 million and the fair value of ownership of its holding is $93.2 million which gives a fair value of around $517 million to Quikr, reports TechCircle.

Quikr, which raised $150 million in fresh funding from existing investors besides a new investor Steadview Capital Management, was valued at around $892 million, as per a note by its Swedish investor Investment AB Kinnevik.

Kinnevik said its own stake had an implied value of $158 million and the fair value of ownership of its holding is $93.2 million which gives a fair value of around $517 million to Quikr, reports TechCircle.

Kinnevik had also participated in the latest round with an infusion of $40 million as part of a larger $150 million funding early this month. It also saw participation from other existing investor Tiger Global. According to the TechCircle report, with the September deal, the total capital raised by Quikr stood at around $350 million.

Seven months ago, Quikr had raised $60 million in a funding round led by Tiger Global with participation from its existing investors, including Matrix Partners India, Nokia Growth Partners, Norwest Venture Partners, Omidyar Network, Warburg Pincus and eBay Inc, besides Kinnevik. In the last disclosure, Kinnevik had pegged a fair value of Quikr at around $340 million. Kinnevik maintained its holding at 18 per cent with the latest funding.

Founded in 2008 by Chulet and Jiby Thomas (who quit the firm later), Quikr was originally started as Kijiji India. The firm later rebranded to Quikr. It is a large scale cross-category classifieds business with over 30 million consumers. These consumers come to Quikr to sell, buy, rent or find products and services in a variety of categories such as electronics and household goods, real estate, cars, bikes, jobs and services. The firm claims that small businesses across 1,000 cities are using the site.

It recently announced the launch of a new classifieds website for real estate called quikrhomes.com to allow B2C as well as C2C discovery of properties up for sale as well as those available for rent. It is also launching separate verticals and new sites with separate URLs for around half a dozen areas.

Early this year, Quikr launched Nxt, an instant messaging service to enable buyers and sellers to interact with greater convenience and privacy.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close