Online classified portal Quikr
India Pvt. Ltd is in the final stage of discussions to buy real estate portal
CommonFloor.com in a share swap deal. The valuation is expected to be in the
range of $120 Million to $200 Million.
CommonFloor owned by maxHeap
Technologies, in January raised an undisclosed amount from Google Inc. venture
arm Google Capital in a deal that valued the company at around $200 Million. The
other investor in CommonFloor is Accel Partners. Tiger Global, which has over
the past one year, invested in scores of big and small Indian Startups is
currently in the process of pulling back from big ticket investments.
Tiger Global is re-allocating its
investments to stronger companies in its portfolio, including Quikr which is in
process of realigning its business, creating new business verticals across real
estates, automobiles and jobs, among others. Quikr has so far raised $346
Million from investors such as Investment AB Kinnevik Tiger Global, Steadview
Capital Management and Matrix Partners India.
CommonFloor has so far raised more
than $60 Million from Accel Partners, Tiger Global and Google Capital over
multiple rounds. According to some investors, the sector saw a churn after Softbank
backed Housing.com owned by Locon Solutions Pvt. Ltd, raised large amount of
Capital and invested heavily in marketing and advertising, pushing other companies
to follow suit.
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