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Showing posts with label Quikr. Show all posts
Showing posts with label Quikr. Show all posts

March 11, 2014

Indian Mobile and web Classified Start Up” Quikr” valued at $250 million, raises $90million Funding

Swedishfirm Kinnevik to invest $90 million in Quikr“Online and mobile classifieds venture” Quikr” has raised $90 million ( 550 crore) from a group of investors led by Swedish investment firm Investment Kinnevik in a deal that marks the largest round of funding for an internet services company in India.

The investment was spread across two rounds, with existing investor Warburg Pincus providing the initial investment in September last year, according to a person with direct knowledge of the transaction. The latest deal, signed last week, values Quikr at over $250 million (Rs 1,530 crore).

The  Indian Internet space , along with increasing Mobile penetration is driving startups  to essentially base their business models into two broad  Spectrum – those trying to build products and usage organically, and those doing arbitrage (buying traffic from Adwords, and selling to advertisers

According to CEO of quikr , its gets 32million  unique visitors every month. Alexa shows a traffic rank of 13 in India and 276 Global rank which is certainly more than impressive. And thats where “the Brand’ makes a difference  to investors .. Its not that their business model is unique .. but the sheer scale of traffic . which makes Quikr  as the number ‘ no 1 Mobile Classifieds site ( Justdial is not exactly into the mobile space .. its business started off as an Offline venture )