Online classifieds website Quikr
India Pvt. Ltd acquired real estate analytics firm Blitzkrieg Technology Pvt.
Ltd which operates under the name RealtyCompass for an undisclosed sum. This is
the second acquisition by the company in the sector. It acquired Indian Realty
Exchange (IRX) an aggregator of real estate agents.
It also made a strategic investment
in AN Virtual world Tech Ltd, a hyper-local search engine providing street
views. The latest acquisition will help QuikrHomes access technology built by
RealtyCompass that helps consumers and investors in their decision making
process by providing builder ratings and detailed project analysis. As part of
its growth strategy, Quikr has been focusing on automobiles, jobs, services and
customer to customer sales.
The size of Real estate sector is
expected to reach $853 Billion by 2028 and its contribution to India’s gross
domestic product will be 13%. While Quikr competes with Naspers backed OLX in
the classified business, its competitors in the real estate sector are
Housing.com, PropTiger Realty India Pvt. Ltd, Magicbricks Realty Services Ltd
and 99 Acres.
Softbank backed Housing.com which
started off as a listing website and now enables users to buy and sell
properties online, acquired risk assessment company Realty Business
Intelligence for Rs. 10 Crore in cash in June and Indian Real Estate Forum in
March. PropTiger also acquired Makaan.com in April. QuikrHomes currently
connects customers from more than 1000 cities and towns across India and it
helps conclude more than 200,000 transactions a month.
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