Quikr acquires RealtyCompass

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.

Quikr Buys Indian Realty Exchange

Online classifieds portal Quikr India Pvt. Ltd had acquired Indian Realty Exchange (IRX, incorporated as 123 Startup Ventures Pvt. Ltd) a real estate agent aggregator, for an undisclosed amount to strengthen its real estate vertical QuikrHomes.

With its latest round of funding ($60 Million) in September, Quikr strengthened its push in five business segments automobiles, real estate, jobs, services and customer-to-customer sales to explore new sources of revenue. These five categories account for about 90% of the 10 Million listings of platform. This acquisition will allow it to gain access to real estate agents.

QuikrHomes currently has customers in 1000 cities and towns across India and concludes 200,000 transactions per month. IRX helps users connect to the agents for buying and selling property, and updates listings with locations in real time and features agent reviews, rankings, trust networks and a chat platform for agents to exchange inventory and requirements with users and other agents.

Quikr has received funding of around $200 Million since its inception in 2008, and counts Tiger Global Management, Kinnevik, Matrix Partners India, Nokia Growth Partners, Norwest Venture Partners, Omidyar Network, Warburg Pincus, and eBay as its investors. QuikrHomes enters into competition with CommonFloor, Housing.com, PropTiger, NoBroker, and Magic Bricks.