Quikr has finalised deal to acquire CommonFloor.com(real estate portal) for $200 million i.e. Rs.1,300 crore to strengthen its newly launched vertical, QuikrHomes.
- Reason: CommonFloor failed to raise additional capital to fund its business. So far, the firm has raised $60 million.
- CommonFloor reckons investors such as Accel, Google Capital and Tiger Global.
Recently, it acquired India Realty Exchange (IRX) which is a mobile-first aggregator of real estate agents founded by Vikram Dhawan and Karan Jindal. IRX helps users connect with them to buy and sell property.
- Quikr Founder: Pranay Chulet
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