QuikrHomes merges CommonFloor
Online classifieds player Quikr on Thursday announced the merger of CommonFloor.com with its real estate vertical QuikrHomes. Quikr will continue to operate both brands in the market.
New Delhi : Online classifieds player Quikr on Thursday announced the merger of CommonFloor.com with its real estate vertical QuikrHomes. Quikr will continue to operate both brands in the market.
The merger, which is expected to be completed over the next two to three months, will give CommonFloor.com access to Quikr's 30 million consumers, Quikr said in a statement. QuikrHomes, on the other hand, will benefit from CommonFloor's structured data and domain expertise, it added.
"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," it said. However, no financial details of the deal were disclosed.
"This is Quikr's fourth and the biggest strategic move in the real estate category since the launch of QuikrHomes about four months ago," Quikr said.
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.
QuikrHomes connects customers from over 1,000 cities and towns across India and it helps conclude two lakh plus transactions per month.