Quikr closes Series D with Rs. 36 Crore
Date: Wednesday , June 08, 2011
Online classifieds company, Quikr, has raised Rs. 36 crore in funding in a round led by Nokia Growth Partners with participation of Norwest Venture Partners and eBay. The fund will be utilized for product development for the company’s online and mobile platforms, exceeding bounds of its market capabilities and other such operations. Headed by Pranay Chulet, CEO, the company is presently focusing on domestic market since it is showing great potential.
Built around with a concept of creating an online transparent marketplace, Quikr provides people the ability to trade and find goods and services in a variety of categories to be explored by individual consumers as well as small and mid-sized businesses. Offering web and mobile-based classifieds platform addressing a variety of local needs in 40 cities across India, they have more than 10 million consumers visit every month to buy, sell, rent or find things ranging from laptops to mobile phones, cars, real estate, jobs and everything in between.
After being a success in online classifieds, they plan to play around with 3G and smartphones to create new opportunities to deliver classifieds and other local commerce opportunities to mobile devices. They have three defined revenue streams- advertising, premium listing and providing lead generation for small-scale businesses