India: Tiger Global to infuse fresh capital in classifieds portal Quikr

Visual from Quikr website

New-York based Tiger Global Management is expected to infuse fresh capital in online classifieds major Quikr, which is close to acquiring realty portal CommonFloor for about $160 million, over a three times jump in the previously quoted deal amount.

The acquisition may also see Bengaluru-based Quikr, which is being valued at $1.5 billion in the transaction, entering the elite unicorn club, said a report in The Times of India.

Indian tech startups valued at $1 billion or more include the likes of e-commerce biggies Flipkart and Snapdeal, taxi aggregator Ola, Paytm, data cruncher Mu Sigma and mobile ad network InMobi.

Venture capital firm Tiger Global, an existing investor in both Quikr and CommonFloor, is expected to pump in fresh capital at the latest valuation through primary issuance of shares, the report said.

In September, Quikr had closed $60 million funding round that was led by Tiger Global, taking the total funding to about $200 million since its inception in 2008. Other investors in the firm include Swedish investment firm AB Kinnevik, eBay Inc, Omidyar Network, Nokia Growth Partners, Matrix Partners, Warburg Pincus and Norwest Venture Partners.

Quikr has a presence in over 940 cities in India and operates in 13 categories and in 170 sub-categories ranging from mobile phones, real estate, cars, services and jobs to entertainment, furniture and electronics.

CommonFloor, which is owned by Bengaluru-based Maxheap Technologies Pvt Ltd., was founded by Sumit Jain, Lalit Mangal and Vikas Malpani in 2007. It has grown into a company of more than 1,000 employees in more than 22 locations across India.

Also Read: Classifieds portal Quikr to focus on 5 business segments in verticalization push

Online listings site Quikr launches QuikrJobs for entry-level job seekers

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.