Quikr Funding Round Largest in India's History at $90 Million

Free online classified service, Quikr, lets people buy, sell or rent in a variety of categories. The funding deal, signed last week, values Quikr at over $250 million.

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The Economic Times of India reported today that family-run Swedish investment firm Kinnevik (valued at $10.6 billion) is leading a group of investors funding Quikr, India’s largest Web and mobile classifieds service.

Quikr has raised nearly $150 million in seven rounds, making it one of India’s most-funded consumer Internet companies. Last week’s funding round values Quikr at over $250 million.

“The investment by Kinnevik is the latest transaction in the country’s booming consumer Internet space as investors — strategic and private equity — back Indian e-commerce ventures that are combining strong top line growth with profitability and exit strategies.”

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Quikr’s co-founders Pranay Chulet and Jiby Thomas left eBay in 2008 to form Quikr, which was previously an eBay subsidiary called Kijiji India.

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