Quikr bought online real estate portal Commonfloor.com

Now Quickr’s 30 million consumers can get access through Commonfloor and the combined entity will contain nearby 2 million real estate listings stated by the company.
Bengaluru: Quikr India Pvt. Ltd, Online classifieds firm, one of the India’s leading classifieds platform, acquired real estate portal CommonFloor in a distress sale orchestrated by Tiger Global Management Llc, the US-based hedge fund founded by Julian Robertson that is an investor in both.
Quikr, valued at an estimated $1 billion, and CommonFloor (maxHeap Technologies Pvt. Ltd) denied revealing the terms of the transaction, but two people familiar with the situation stated Quickr paid $120 million in an all-stock deal. The people spoke on condition of anonymity.
In December 2014, CommonFloor’s estimated price was more than $150 million when it last increased 60 crore from Google Capital. The company increased a total of 321 crore from Tiger, Accel Partners and Google Capital from 2011.
Quikr and CommonFloor have estimations that observed out of balance to their revenue.
Quikr informed sales of 24.78 crore for the year ended 31 March 2015, while CommonFloor generated sales of 45.76 crore for that year, as per documents with the Registrar of Companies.
In spite of having generated revenue that is much bigger than Quikr’s, CommonFloor attracted a much less estimation because of the valuation metrics used by e-commerce investors that might appear specific to shareholders in traditional businesses.
Online classifieds firms like Quikr are given more reasonable estimations because of increased customer base that can be probably perfect in future via advertising and the winner-takes-all nature of the business.
Basically, Quikr has just one competitor Olx, which is sponsored by Naspers Ltd, a South African mass media company. Besides that, online real estate has an occupied market with measurably five robust-funded companies.
Besides raising Quikr’s sales, the CommonFloor deal will make it possible for the combined entity to raise money at a time investors have reason to turn attention on Indian startups.

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