21 November 2016, India :
Tiger Global-backed online classifieds player Quikr on Monday announced the acquisition of Grabhouse, an online home rental solutions provider, in an all-stock deal giving investors Sequoia Capital and Kalaari Capital stake in Quikr.
Quikr is an Indian classified advertising platform. It was founded by Pranay Chulet and Jiby Thomas in 2008. Headquartered in Bengaluru, Quikr has a listings in over 1,000 cities in India in categories such as mobile phones, household goods, cars, real estate, jobs, services and education.
Talking about the acquisition, Atul Tewari, COO, Quikr said, “Our business here will also benefit from unique competitive advantages as the Grabhouse target market has a great match with many of our other businesses such as C2C and bikes. On the cost side, the operational costs of the business will directly get shared with our services business.”
Founded by Prateek Shukla and Pankhuri Shrivastava in July 2013, Grabhouse offers end-to-end digital solutions for the rental needs of both owners and tenants. It offers a rental marketplace comprising of apartments, paying guest (PGs) and peer to peer rentals across 11 cities. Source- ET