Quikr merges CommonFloor.com with real estate vertical

Quikr merges CommonFloor.com with real estate vertical

 Cross category classifieds business Quikr has merged CommonFloor with its real estate vertical QuikrHomes.

The move is another important step in Quikr’s strategy to create industry-leading verticals in categories in which it has always operated. This is Quikr’s fourth and the biggest strategic move in the real estate category since the launch of QuikrHomes about four months ago, CommonFloor said.

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 and harness the potential of the cross category nature of the platform, while QuikrHomes will benefit from CommonFloor's structured data and domain expertise.

The company will continue to operate both brands in the market and honor the commitment towards their respective customers. Further, given that the two companies have the same technology stack, the CommonFloor.com team will have expanded scope across Quikr’s four other verticals in order to further accelerate its growth, CommonFloor.com said. “We see great synergies between us and CommonFloor. We expect this transaction to not only accelerate the growth of QuikrHomes, but also our other verticals,” Quikr founder and chief executive officer Pranay Chulet said.

“This merger creates a strong industry leader and gives us a very strong platform to grow the business further. Our obvious synergies will benefit consumers, property developers, as well as our real estate partners, who are all key to the progression of the online real estate ecosystem. We are excited about working together with the Quikr team and bringing more unique and compelling solutions to our consumers,” CommonFloor.com co-founder and chief executive officer Sumit Jain 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. It also made a strategic investment in A N Virtual Tech, the only company in India that has detailed real life imagery of 90 per cent plus streets and buildings across India's top 50 cities.

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