Quikr touches $1.5B valuation mark

Quikr touches $1.5B valuation mark

In its recent evaluation, reliable mobile and internet based classified company Quikr has been valued at $1.5 billion. Enhancing its ongoing buying spree, it is busy holding talks to acquire CommonFloor.

CommonFloor and Quikr’s present investor Tiger Global is likely to make investment in fresh capital in Quikr at third recent valuation through their primary issuance of  shares. Quicker in April had secured an amount of $150 million in series H fund round from their present investors. Tiger Global Management and Swedish VC fund investment and AB Kinnevik and their Hong Kong based Steadview Capital.

The proposed CommonFloor deals are likely to be around an entire buyout at $160 million. The deal is likely to be around 80% stock and 20 %cash components division.  Present investors in common floor including their Google Capital, Accel Partners will be collectively select 10% stake in Quikr.  The startup has secured around $60 million since it’s unveiling in 2007.

Here the post gaining the unicorn position, the online classifieds platform will also be making their strategic investment of $10 million in WoNoBo, their hyper local search engine offering 360 degree street view. The company is owned and run by their Indian geo- spatial technology company Genesys International Corps.

Unveiled in October 2013, WoNoBo will be enabling their users to search for and can see their 360-degree walkthroughs of hotels, parks and monuments and will be sharing their points of interests with their users. User can also access, review and tag POIs. This had also unveiled their real estate product enabling potential customers and brokers to view properties as well as their online surroundings.

The investment is available as Quikr’s strategic movement whiles its will spreading their wings and different verticals and will be consolidating their position in online classifieds industry also. Common floor owning clubbed; the company will continue to carry on their march on reality space.