India: Quikr close to acquiring majority stake in CommonFloor for $50m

India: Quikr close to acquiring majority stake in CommonFloor for $50m

Visual from CommonFloor website

Online and mobile classifieds provider Quikr is close to acquiring a majority stake in realty portal CommonFloor for about $50 million (Rs 330 crore), as per a report in The Economic Times.

CommonFloor, which is owned by Bengaluru-based Maxheap Technologies Pvt Ltd., was reportedly looking to raise funds from financial investors for quite some time now. The talks between the two companies for the stated deal started about five months ago.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter