Quikr, Indias cross category classifieds business, announced that it has merged CommonFloor.com with its real estate vertical QuikrHomes to create an industry leader in online real estate. The move is another important step in Quikrs strategy to create industry-leading verticals in categories in which it has always operated. This is Quikrs fourth and the biggest strategic move in the real estate category since the launch of QuikrHomes about four months ago.

The merger, which is expected to be completed over the next two to three months, will give CommonFloor.com access to Quikrs 30 million consumers and harness the potential of the cross category nature of the platform, while QuikrHomes will benefit from CommonFloors structured data and domain expertise. The combined force of two entities will create a strong online real estate industry leader, which has the largest inventory and property seeker traffic in the country.

CommonFloor Merges with Quikr

The company will continue to operate both brands in the market and honor the commitment towards their respective customers. Further, given that the two companies have the same technology stack, the CommonFloor.com team will have expanded scope across Quikrs four other verticals in order to further accelerate its growth.

We see great synergies between us and CommonFloor. We both believe in creating businesses that are strong on growth as well as monetization and have a tremendous cultural fit. With a highly successful recent campaign, launch of industry defining Street Vision, and now todays announcement, QuikrHomes is off to a great start in 2016. We expect this transaction to not only accelerate the growth of QuikrHomes, but also our other verticals. -Pranay Chulet, Founder & CEO, Quikr.

This merger creates a strong industry leader and gives us a very strong platform to grow the business further. Our obvious synergies will benefit consumers, property developers, as well as our real estate partners, who are all key to the progression of the online real estate ecosystem. We are excited about working together with the Quikr team and bringing more unique and compelling solutions to our consumers -Sumit Jain, Co-founder and CEO, CommonFloor.com

Quikr recently acquired Indian Realty Exchange (IRX), a mobile-first aggregator of real estate broker community and realtycompass, a platform that provides builder rating and project analysis. It also made a strategic investment in A N Virtual Tech, the only company in India that has detailed real life imagery of 90%+ streets and buildings across Indias top 50 cities.

Read more about Quikr’s multi lingual platform.

We are super excited about this development as the combined power of QuikrHomes and CommonFloor will help us bring more choices to our buyers and sellers making us the undisputed leader in the online real estate space – Manish Sinha, Head of QuikrHomes

QuikrHomes currently connects customers from over 1000 cities and towns across India and it helps conclude 2 lakh plus transactions per month. QuikrHomes is one of the key verticals for Quikr with 35% of its revenue coming from this vertical.

On the other hand, CommonFloor has over 5 lakh active property listings from over 200 cities, and over1 lakh residential projects listed.

Quikr is Indias leading cross-category classifieds platform that is used by over 30 million unique users a month. It is present in 1000 cities in India and operates in over 12 categories that include mobile phones, household goods, cars, real estate, jobs, services and education. Quikr operates across desktop, laptop and mobile phones, and allows consumers as well as small businesses to sell, buy, rent and find things across its multiple categories with great ease. Quikrs investors include Warburg Pincus, Kinnevik, Tiger Global Management, Matrix Partners India, Norwest Venture Partners, Nokia Growth Partners, Steadview Capital, Omidyar Network, Ebay Inc.

Launched in 2007 by Sumit Jain, Lalit Mangal and Vikas Malpani, CommonFloor.com, is Indias leading real estate platform that combines property search, apartment management and vendor management and caters to a persons complete residential requirements. From searching for an apartment to facilitating interactions within an apartment community on the CommonFloor platform, to connecting one to relevant service providers, the platform is dedicated to meeting all aspects of consumers needs around their home. CommonFloor.com has been funded by Accel Partners, Tiger Global and Google Capital.

So before announcing the merger, Quikr and CommonFloor took it to the social media platform Twitter.

Quikr started it off and CommonFloor joined the conversation.

Although a common trick, but used effectively.
Image Source and Reference: Quikr and CommonFloor Blog