iWorld

Quikr raises Rs 365 crore for future expansion

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/internet-images/2014/09/19/j.jpg?itok=FAE9CBDE

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

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/24/sonyliv.jpg?itok=DZ9CV3V4
SonyLIV strengthens original content team by roping in Hotstar’s Saugata Mukherjee

MUMBAI: As all streaming platforms in India are becoming more bullish on original content slate, Sony Pictures Networks India (SPN) is also rebuilding its digital team. Few months after handling SonyLIV’s responsibility to Danish Khan, the over-the-top (OTT) platform is roping in Saugata Mukherjee...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/24/avinash.jpg?itok=Z2PRRR6Y
Facebook appoints Avinash Pant as marketing director for India

MUMBAI: Facebook today announced a new addition to its leadership team in India, which is driving the charter for the company’s deepening focus in the country. The latest addition to the India leadership team is Avinash Pant, who will take on the role of Marketing Director at Facebook India. 

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/24/app.jpg?itok=Yrasiog-
Ad spend on mobile to hit $240 billion globally: App Annie

According to the State of Mobile 2020 report by App Annie, this year comes out to be the biggest year for mobile, with advertisers fuelling the revenue. Mobile ad spends reach $240 billion as brands utilise mobile’s potential.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/23/tubi.jpg?itok=nHAWuuJP
Tubi to launch in Mexico with strategic partner TV Azteca

MUMBAI: Tubi (www.tubi.tv), the world’s largest free ad-supported video on demand (AVOD) service, today announced it will expand its service into Mexico later this year in collaboration with TV Azteca, one of the two largest producers of Spanish-language television programming in the world. As part...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/23/Farhad-Massoudi.jpg?itok=oPqXniBF
"Most of the SVOD businesses are not going to be viable" -Tubi's Farhad Massoudi

Streamers such as Netflix, Disney+, Amazon Prime, Apple Plus, HBO Max – have been capturing headlines across the world, including in India. But one service which has been growing silently – probably the first totally reliant on advertising – has been Tubi. Launched in America around five years ago...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/22/mxplayer.jpg?itok=IQoBZ4wN
MX Player is the #1 Breakout Video Streaming App of 2019 in India, as per the State of Mobile 2020 report by App Annie

MX Player is the #1 Breakout Video Streaming App of 2019 in India, ahead of Hotstar, Netflix, Amazon Prime and JioTV, according to the State of Mobile 2020 report by App Annie. The platform has dominated the market in terms of time spent on Android phones among Entertainment or Video Players &...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/22/likee.jpg?itok=ZaN6A0rf
Likee collaborates with ShemarooMe's chat show 'Likee Stars with Priya Raina'

MUMBAI: Likee, the pioneering global short video creation platform from Singapore based BIGO Technology has collaborated with ShemarooMe, a video streaming OTT platform launched by India’s leading content powerhouse Shemaroo Entertainment Limited, to create a unique chat show ‘Likee Stars with...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/22/netflix.jpg?itok=u8k51PXp
Netflix reports good topline growth, international subscriber additions in Q4

MUMBAI: Despite missing out on domestic subscriber addition for two consecutive quarters, streaming colossal Netflix beat its forecast for overall subscriber additions for the fourth quarter of 2019. The company also beat on the top and bottom lines for the quarter. The streaming giant witnessed a...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/01/21/horror.jpg?itok=4GRQHQMz
Abundantia Entertainment, Crypt TV partner to drive Indian horror content in 2020

MUMBAI: If there is an unexplored genre in the Indian content space, it is definitely the horror genre. While movies like Stree and shows like Ghost Stories have attempted to change the space, there is room for more. Vikram Malhotra-headed Abundantia Entertainment is now focusing on the gap by...

iWorld Over The Top Services

Sign up for our Newsletter

subscribe for latest stories