Quikr is India´s leading cross-category classifieds platform used by over 30 million unique users a month. It operates in over 10 categories, one of which is real estate. Quikr´s investors include Warburg Pincus, Kinnevik, Tiger Global Management, Matrix Partners India, Norwest Venture Partners, Nokia Growth Partners, Steadview Capital, Omidyar Network, and Ebay Inc.
As the company dives deeper into the real-estate market, Manish Sinha, Head, QuikrHomes, shares more on the company, its acquisitions and strategies…..
Please introduce us to your latest three acquisitions, realtycompass, Indian Realty Exchange (IRX) and CommonFloor. What is the core strategy behind each one?
With the Indian real-estate segment moving online, we want to bring more choices and innovative product offerings for buyers and sellers with the comfort of just a few clicks. The investments made towards IRX, realtycompass and CommonFloor are important strategic moves towards this goal and to establish QuikrHomes as the undisputed leader in the online real-estate space by providing more value to our end-consumers.
In addition to these, we have also made a strategic investment in AN Virtual World Tech Ltd, the company that powers Street Vision to enable 360 street views for our consumers.
How much are these acquisitions worth, and how will they prove to be an asset to QuikrHomes? How do you plan to utilise the assets to ensure a return on your investment?
Each of the investments we have made will help strengthen and complement QuikrHomes. IRX´s acquisition will increase long-term engagement with the broker community, realtycompass offers ratings and user recommendations, which address the needs of the evolved home buyers and investors who seek better decision-making tools, and CommonFloor´s structured data and domain expertise will benefit QuikrHomes to further accelerate its growth.