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Quikr Receives 13% Valuation Hike from Swedish Investment Firm Kinnevi

by Chinmay Bidkar
November 1, 2016
in News
Reading Time: 1 min read
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Quikr Receives 13% Valuation Hike from Swedish Investment Firm Kinnevi
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quikr

1 November 2016, India :

Swedish investment firm Kinnevik has marked up the valuation of online classifieds firm Quikr to $1.47 billion, as compared to a $1.3 billion it had assigned to the company in the previous quarter, as per ToI report.

Kinnevik is an active and long-term owner and its investments are made primarily in technology-based services aimed at consumers. It holds significant stakes in about 30 companies operating across five continents in more than 80 countries, with a particular focus on growth markets.

“The company made a number of bolt-on acquisitions during the quarter that enhance its strategic positioning and product offering – these include platforms offering jobs, vehicle maintenance services and on-demand beauty services,” Kinnevik said in the report.

As per the report, Quikr has created an additional value of $170 million in three months. It further said Quikr had a strong third quarter for cash collections. It has been strengthening its verticals like real estate, jobs and on-demand beauty services with acquisitions and investments. Source- (Times Of India / Image- Quikr)

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Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- [email protected]

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