Online and mobile classifieds player Quikr is close to raising around . 900 crore or $150 mil` lion in a new round of funding from new and existing investors, three sources familiar with development said.The round will see entry Hong Kong-based Steadview Capital, which has emerged as one of the most aggressive hedge funds buying into the India internet story .While two sources briefed on the matter said that the deal is likely value Quikr between $700-800 million , another source added that the seven-year-old venture is likely to be valued around $1 billion.
The transaction will be completed within next two weeks, said two sources. The new round of financing underlines rising investor frenzy to buy into potential market leading internet companies, as other heavily funded players like Flipkart, Snapdeal, Zomato and Ola are also in talks for new rounds.Steadview, bought stakes in Flipkart and Ola. “There are conversations still going on with 3-4 other investors,“ said one source directly involved in the transaction.
The funding will help Quikr expand aggressively in an increasingly competitive classifieds market, where it is taking on South African internet conglomerate Naspers-backed OLX besides heavily funded vertical players in real estate and auto mobiles segments
Source ET
But we can fund any webstore and will help them get funds at easy yet complying every provisions
Contact CS GAURAV +919990694230 for funding requirements of online webstores.
The transaction will be completed within next two weeks, said two sources. The new round of financing underlines rising investor frenzy to buy into potential market leading internet companies, as other heavily funded players like Flipkart, Snapdeal, Zomato and Ola are also in talks for new rounds.Steadview, bought stakes in Flipkart and Ola. “There are conversations still going on with 3-4 other investors,“ said one source directly involved in the transaction.
The funding will help Quikr expand aggressively in an increasingly competitive classifieds market, where it is taking on South African internet conglomerate Naspers-backed OLX besides heavily funded vertical players in real estate and auto mobiles segments
Source ET
But we can fund any webstore and will help them get funds at easy yet complying every provisions
Contact CS GAURAV +919990694230 for funding requirements of online webstores.
