Why Quikr had raised $83 million ?

The reason Quikr [Indian classifieds portal] raised $83mn funds from existing investor AB Kinnevik is to launch micro sites for its key verticals under separate domain names Quikr Homes, Quikr Job Portal, Quikr Next and Quikr marketplace.

An NDTV report from last week claims that Kinnevik acquired an additional $20 million stake in Quikr through a secondary share purchase. A VCCircle report stated that Kinnevik is currently the single largest shareholder in Quikr, while new investors have also bought shares from existing shareholders.

Quikr Business Model
It charges SMEs in order to keep the service free for end users.

Quikr Business Report July 2015
  • 30 million unique monthly visitors from over 1,000 Indian cities
  • GMV of over $5 billion monthly
  • Unique monthly visitors (UMVs) grew 13% in the Jan-March 2015 quarter 
  • Quikr’s pageviews had increased 4.9 times in the quarter

Tags: classifieds startup, ab kinnevik, steadview, tiger global, funding, quikr, july 2015


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