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Quikr to Acquire CommonFloor

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Quikr is planing to acquire real estate portal CommonFloor.com for $200 million, the deal will be announced next week, people familiar with the development said. Pranay Chulet-founded Quikr, with a valuation of around $1.5 billion has been looking for acquisitions to strengthen its verticalisation strategy. Quikr has raised $346 million in six rounds from investors such as Tiger Global, Warburg Pincus, and Norwest Venture Partners.

A Quikr spokesperson, terming it ‘market speculation’, said: “We are always looking at strengthening our verticalisation strategy.”  A few weeks ago, it acquired India Realty Exchange (IRX), a mobile-first aggregator of real estate agents founded by Vikram Dhawan and Karan Jindal for an undisclosed sum. Read more

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Sweekar S

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