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.
