1. Online classifieds portal Quikr buys job portal Babajob Services to strengthen presence in blue collar space

Online classifieds portal Quikr buys job portal Babajob Services to strengthen presence in blue collar space

Online classifieds portal Quikr India has bought Babajob Services, in a bid to strengthen its position in the blue collar jobs segment.

By: | Bengaluru | Published: June 22, 2017 5:05 AM

 

online classifieds portals, Quikr, Babajob Services, blue collar jobs Online classifieds portal Quikr India has bought Babajob Services, in a bid to strengthen its position in the blue collar jobs segment. (Reuters)

Online classifieds portal Quikr India has bought Babajob Services, in a bid to strengthen its position in the blue collar jobs segment. This is Quikr’s eleventh acquisition and the second one in the jobs space. The company did not disclose the value of the deal. Babajob co-founders Sean Blagsvedt and Vir Kashyap and investors Australian hiring firm Seek, Khosla Impact and Grey Ghost Ventures will become Quikr’s shareholders following the deal. Quikr, founded by Pranaya Chulet and Atul Tewari, has so far raised $350.15 million in eight rounds from 11 investors including Warburg Pincus, TigerGlobal and Matrix Partners.

It had last raised $20 million in debt from Brand Capital in August 2016. According to research platform Tofler, the company’s revenues in FY16 stood at Rs95 crore, with a loss of Rs534 crore. Sean Blagsvedt, who had been struggling to raise money said in an email that, “The Babajob Board, Vir and I decided that joining forces with Quikr represented our best option for scaling Babajob’s mission. Vir and I will retain advisory roles with Quikr but after ten years of building Babajob, we’ve decided to pursue other opportunities.”

Babajob, founded in 2007 by Blagsvedt, Kashyap and Ira Weise, has raised at least $10 million in multiple funding rounds. According to Blagsvedt, 8.5 million verified job seekers sought jobs from more than five lakh employers on Babajob. Quikr is a cross category classified site in India which has been on an acquisition spree with Babajob being its 11th acquisition in 18 months. Amit Jain, Head, Quikr Jobs said this move will make Quikr a market leader in the blue jobs category segment. The online classified platform’s acquisitions have by far been the most by a start-up. Under the jobs segment Quikr bought Hiree which is backed by IDG Ventures and Stepni was acquired for Quikr cars.

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