Quikr is the largest classifieds business in India with more than 30 million monthly consumers across 1,000 cities.
It had raised $150 million in 2014 and plans to use the fresh fund infusion of $150 million to invest in its fast growing mobile business and in the categories where it already enjoys leadership such as goods, cars, real estate, jobs and services.
“The big thing for us is to continue to innovate for India, innovate for mobile and go deeper in the key categories where we have leadership,” said Pranay Chulet, CEO and founder Quikr. While more than 80 per cent of traffic for Quikr is from mobile phone users, the company expects this to go to 90-95 per cent in a year’s time. The real estate category is the largest due to size of transactions.
Plans for sub-brands
“As part of our ‘verticalisation’ initiative, we plan to strengthen the main verticals and go deeper. We are now creating sub-brands under the mother brand of ‘Quikr’, Mr. Chulet said.
The company is also planning to foray into the logistics space. “We want to do things to help the users in terms of payment and logistics for goods as used goods has been our forte for a long time. We are looking at logistics space although it is in ‘early’ stages,” he said.
In January 2015, Quikr had launched its new product Quikr Nxt, an instant messenger service allowing users to chat using the website or mobile app.
The company operates in 13 categories and 170 sub-categories.
The company is creating sub-brands under the mother brand of ‘Quikr’.
