The Indian Startup scene is heating up. We are seeing lot of actions and the latest in the list of blockbusters is the Quikr and CommonFloor.
Though rumors about this acquisition was doing rounds since a few weeks now, but lately we have a confirmed news that Quikr has purchased CommonFloor in a $ 200 Mn. Cash and Stock deal. The exact details of the deal are not with us. According to a leading blog on Startups, the founders will get 20% cash and 80% in company stocks.
The acquisition of CommonFloor fits perfectly in the expansion plans of Quikr. Just a few months back only Quikr had launched Quikr Homes, to enter the real-estate market. And with the acquisition of CommonFloor, Quikr has reduced significant competition.
With this acquisition, Quikr has actually reduced it’s competition and will get a good user base. And with Housing.com going through various issues (Housing.com recently exited the rentals business) and recently shrinking its portfolio of services, it will prove to be a good take for Quikr