Quikr merges CommonFloor.com with its real estate vertical QuikrHomes
Bangalore: Quikr on Thursday announced that it has merged CommonFloor.com with its real estate vertical QuikrHomes to create an industry leader in online real estate. The move is another important step in Quikr’s strategy to create industry-leading verticals in categories in which it has always operated.
This is Quikr’s fourth and the biggest strategic move in the real estate category since the launch of QuikrHomes about four months ago.
The merger, which is to be completed over the next two to three months, will give CommonFloor.com access to Quikr’s 30 million consumers and harness the potential of the cross category nature of the platform, while QuikrHomes will benefit from CommonFloor’s structured data and domain expertise.
The combined force of two entities will create a strong online real estate industry leader, which has the largest inventory and property seeker traffic in the country.
The company will continue to operate both brands in the market and honor the commitment towards their respective customers.
Further, given that the two companies have the same technology stack, the CommonFloor.com team will have expanded scope across Quikr’s four other verticals in order to further accelerate its growth.
Commenting on the development, Pranay Chulet, Founder & CEO, Quikr said, “ With a highly successful recent campaign, launch of industry defining Street Vision, and now today’s announcement, QuikrHomes is off to a great start in 2016. We expect this transaction to not only accelerate the growth of QuikrHomes, but also our other verticals.”
Quikr recently acquired Indian Realty Exchange (IRX), a mobile-first aggregator of real estate broker community and realtycompass, a platform that provides builder rating and project analysis.
It also made a strategic investment in A N Virtual Tech, the only company in India that has detailed real life imagery of 90%+ streets and buildings across India’s top 50 cities.
“We are super excited about this development as the combined power of QuikrHomes and CommonFloor will help us bring more choices to our buyers and sellers making us the undisputed leader in the online real estate space” said Manish Sinha, Head of QuikrHomes.
QuikrHomes currently connects customers from over 1000 cities and towns across India and it helps conclude 2 lakh plus transactions per month.
QuikrHomes is one of the key verticals for Quikr with 35 per cent of its revenue coming from this vertical.
