Quikr, an online classified site headquartered in Mumbai raises $32M led by PE firm Warburg Pincus. This round was a series E round and earlier Quikr had raised investments from Omdiyar Networks, Norwest Ventures, Matrix Partners and eBay. Existing investors also participated in this round. Nitin Nayar, Managing Director of Warburg Pincus comes on the board of Quikr.
It was launched as Kijiji.in on eBay global classified platform and was renamed as Quikr in late 2008. Quikr is currently present in over 40 cities across India.
Quikr provides the local community with a platform to help them buy, sell, rent and find something and address needs across many categories. These categories range from Mobiles, real estate, cars, services, jobs, entertainment, furniture, electronics etc. The company is also exploring the potential of introducing other categories like financial services.
Quikr monetizes from placement of ads in its section, Premium advertisements increase the ad visibility and help reach out to more consumers. The price for these ads varies according to the category of the product or service.
Lets look at the monthly web traction at Quikr :
Seeing the web traction, Quikr money spent on online advertisement and TVC is paying off