Quikr is in talks to acquire CommonFloor, a property listings portal. The deal will be worth roughly $200 million and help Quikr build its real estate listing vertical into an industry leader, says TechCrunch.
In a press statement CommonFloor said: "We are in the middle of fund-raising, and there are multiple options on the table. We have not yet finalized one. We are working at multiple levels to ensure our growth takes place in a sustained manner. As a company policy we do not comment on speculations, therefore kindly hold on as we will inform all the stakeholders when the time is ripe. We are committed to our vision of organizing real estate industry in India."
Quikr and CommonFloor are both Tiger Global portfolio companies. Quikr has raised $346 million so far, says CrunchBase. Its other investors include Investment AB Kinnevik, and Warburg Pincus. Commonfloor's total funding is $62.9 million, raised from Tiger Global, Google Capital, and Accel, TechCrunch added.
Quikr claims to be India's largest advertising site and CommonFloor, founded in 2007, already claims to be India's top real-estate listings portal.
CommonFloor generated a revenue of Rs. 44 crores ($7mn) in financial year 2014-15