1. Classifieds portal Quikr buys household service provider Zimmber to drive up its hyper-local household services business

Classifieds portal Quikr buys household service provider Zimmber to drive up its hyper-local household services business

Cross-category classifieds portal Quikr on Friday announced the acquisition of Zimmber, an on-demand household services provider, as it plans to drive up its hyperlocal household services business.

By: | Bengaluru | Published: May 6, 2017 5:07 AM
Quikr’s net loss increased to Rs 534 crore in FY16, compared with Rs 446 crore that it incurred in the previous fiscal.

Cross-category classifieds portal Quikr on Friday announced the acquisition of Zimmber, an on-demand household services provider, as it plans to drive up its hyperlocal household services business. Zimmber, run by Mumbai-based Rejuvenate Solutions, is the fourth acquisition in the household services segment by Quikr. Three other household services providers that were acquired by Quikr earlier are Zalosa, Zapluk and Stayglad.

The acquisition comes weeks after Google launched its food delivery and home services aggregator app, Areo, for the India market last month. The other prime competitors in this segment are Housejoy, Just Dial and UrbanClap.

After raising more than $340 million from Tiger Global, Kinnevik AB, Warburg Pincus, Omidyar Network, Nokia Growth Partners and others since inception in 2008, Quikr has been on a buying spree of smaller rivals, especially in the real estate and home services segments, as it looks to gain Indian market share vis-a-vis its competitors.

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Of late, Quikr has been concentrating on new business verticals like automobiles, real estate, jobs, services and customer-to-customer sales to boost its flagging revenues. Quikr’s net loss increased to Rs 534 crore in FY16, compared with Rs 446 crore that it incurred in the previous fiscal.

Zimmber co-founder Amit Kumar said, “Quikr believes in organising unstructured markets and has been going deeper in all its verticals — its broad goal of moving closer to transactions and providing consumers better ways to address their day-to-day needs directly overlaps with our vision for the household services category. In addition to the synergies between Zimmber and QuikrServices, we also see a great opportunity in offering our services to users in other Quikr verticals such as QuikrHomes, QuikrC2C and QuikrCars.”

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