iWorld

Quikr raises Rs 365 crore for future expansion

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/internet-images/2014/09/19/j.jpg?itok=aDeDJaOw

Mumbai: Valued at around Rs 1800 crore, the online classifieds platform, Quikr has raised Rs 365 crore in the latest round of funding. The investment was led by new investor Tiger Global Management, a global investment firm, with participation from its current investors.

The company, which has so far received funding of around Rs 1,300 crore since its inception in 2008, will use the funds towards product development and further expansion of its mobile business, Quikr said in a statement.

Commenting on the latest funding, Quicker founder and CEO Pranay Chulet said, “The explosive growth in mobile Internet is fundamentally reshaping the Indian classified Internet market, and we are well positioned to be at the forefront of this growth.”

“This funding round is a powerful validation of our local knowledge and connections, skilled execution and quality management team. We are excited to welcome Tiger Global to Quikr as we continue to further grow our platform,” he added.

The Mumbai-based company’s current investors include Kinnevik, Matrix Partners India, Nokia Growth Partners, Norwest Venture Partners, Omidyar Network, Warburg Pincus and eBay Inc.

In the previous round of funding held in March, Quikr was valued at about Rs 1,525 crore. At that time, the company had raised Rs 550 crore in an investment round led by Swedish investment firm Investment Kinnevik.

Talking about the new investment, Tiger Global Management partner Lee Fixel said, “Quikr has grown rapidly to become one of India’s major classifieds players with a deep understanding of the local market. By leveraging the company’s strengths as a local player, Quikr has seized a tremendous opportunity in a rapidly growing market. We look forward to supporting the Quikr team.”

Quikr records 30 million users a month across 940 cities in India. These consumers come to Quikr to sell, buy, rent or find products and services in a variety of categories including mobile phones, household goods, cars, real estate, jobs, services and education.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/18/ajit-mohan.jpg?itok=ITPivFI5
Hotstar to exclusively live-stream Paytm Ranji Trophy

Underscoring its position as the home of cricket, Hotstar, a video streaming platform, is the exclusive partner for the Paytm Ranji Trophy 2017-18. The Paytm Ranji Trophy, now in its 84th season, kicked off on October 6th with the group stage matches.

iWorld Video On Demand
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/18/Reed_Hastings_1.jpg?itok=SP_NGTFg
Netflix's international streaming boosts rev in Q3, op income almost doubles

BENGALURU: Global internet entertainment company Netflix, Inc., (Netflix) reported 30.3 per cent year-over-year (y-o-y) increase in consolidated operating revenues for the quarter ended 30 September 2017 (Q3-17, current quarter) as compared to the consolidated revenue for the corresponding year-ago...

iWorld Video On Demand
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/17/rishi.jpg?itok=dsbFqZtv
ARK Infosolutions wins Digital Studio award

Value-added distributor for technology products ARK Infosolutions has bagged two awards for the best national distributor (production) and best regional distributor (Production) (West) at the 2nd Digital Studio India Channel Partners Awards 2017.

iWorld eNews
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/17/sony-liv.jpg?itok=17uqEXJG
SonyLiv plans to take unique food content to 8k hrs by Sept '18

Who is the first mover in the OTT space to introduce food as a genre? SonyLiv has -- on World Food Day (16 October) -- introduced the food genre to its existing line-up of diversified content.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/17/CASBAA.jpg?itok=9o9CJ8JS
CASBAA forms 'Coalition Against Piracy,' hires content protection veteran Neil Gane

MUMBAI: CASBAA has announced the formation of the Coalition Against Piracy (CAP), a major initiative to coordinate industry resources in the fight against rampant content theft. It has appointed Neil Gane, an industry veteran in content protection, as the general manager of CAP. Gane will direct...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/17/Gaurav_Gandhi-800x800.jpg?itok=95X9Z57z
Bigg Boss Season 11 garnered 70 mn views on Voot in 10 days

MUMBAI: Colors ace Bigg Boss Season11 has garnered a big buzz on the internet. It has amassed around 70 million views in just the first 10 days of the show on Viacom18’s Voot. Voot carries every aspect of Bigg Boss including the full episodes, voting, MTV Bigg Boss Extra Dose and several exclusive...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/17/IAMAI.jpg?itok=iBaPW91i
150 IoT start-ups in 3 cities in as many yrs: IAMAI, Napino tie up

NEW DELHI: The Internet and Mobile Association of India (IAMAI) has teamed up with Mobile10X and Napino Auto & Electronics Limited to bring together startup entrepreneurs so that they can realise their true potential and evolve Internet of Things (IoT)-based ecosystem in the country.

iWorld eNews
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/14/inmates.jpg?itok=q3TmqTlM
TVF: From Roommates to Inmates

After the success of The Viral Fever’s Permanent Roommates series, the web content producer is back at it with a new plot in TVF Inmates. Three boys and two girls with outrageous personalities share a house in Mumbai.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/14/Untitled-1.jpg?itok=4OjyMXk8
Netflix: Kashyap, Motwane to direct parallel 'Sacred Games', targeting 5-6 originals in a year

MUMBAI: Renowned filmmakers Vikramaditya Motwane and Anurag Kashyap have been commissioned to work on two parallel stories in Netflix's maiden India-set original series 'Sacred Games' based on Vikram Chandra's best-selling novel.

iWorld Video On Demand

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories