Don’t be Quikr

10 years in business. 13 acquisitions. $430 million raised in venture capital. But alas no business model to speak of. Still

Quikr claims that over a third of its income comes from its real estate vertical made of five acquired companies

But its real estate business is far from a picture of health. Its costliest acquisition, Commonfloor, earns less than it did before Quikr acquired it

Today, Quikr encompasses all three online real estate business models: classified listings and lead generation, managed rentals, and brokerage

Quikr claims it has solved the online real estate puzzle. The truth, though, is that the business is struggling

This information is dated by a couple of months. It is important, though. In August this year, Quikr, the digital classifieds company said that its real estate vertical had performed exceedingly well. So much so that the business has become profitable. Quikr’s revenue for the year March 2018 is expected to be around Rs 170 crore ($23 million). As far as claims go, this was Quikr’s the world is our oyster moment.

Context: Just last year, ending March 2017, Quikr had a total revenue of Rs 109 crore ($15 million).

AUTHOR

Salman SH

Salman has around four years of experience reporting primarily on consumer internet, startups, and the telecom sector. Previously, he worked with the financial newspaper Mint, reporting on startups and consumer internet trends. Prior to this, he worked with MediaNama and NextBigWhat. At The Ken, Salman will look at startups, technology trends, and the government policies shaping up around them. Loud metal, moshpits, and local gigs are he what he lives for.

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