Quikr an online classifieds firm has raised $19.4 million from Brand Capital, the private treaty arm of media company BCCL- Bennett, Coleman and Co. Ltd.
It was launched in 2008 by Pranay Chulet and Jiby Thomas. Till date it has raised more than $346 million in funding. Initially it was started as Kijiji India and later rebranded to Quikr. Its investors include Warburg Pincus, Tiger Global Management, Matrix Partners India, Kinnevik, Nokia Growth Partners, Norwest Venture Partners, Omidyar Network, Ebay Inc and Steadview Capital.
Earlier in 2016, BCCL also picked up a small stake in Snapdeal and is also in advanced talks to invest Rs 500 crore in Flipkart for a minority stake.
Quikr in the last two years have made 5 acquisitions including Indian Realty Exchange – November 2015, Reality Compass- December 2015, Commonfloor- January 2016, Salosa- May 2016 and Hiree- July 2016.
Quikr fired more than 150 Commonfloor employees soon after acquiring it and later it shut down its offices in May 2016. Quikr also closed down Flatchat’s offices- a finding application owned by CommonFloor.
Quikr is in direct competition with OLX backed by Nasper. Nasper launched Stradia- a used car marketplace which strengthened OLX position in India. Amazon also launched Junglee a platform to buy and sell pre-owned goods.