Quikr
Quikr is an Indian online classifieds and marketplace platform that connects buyers and sellers for a wide range of goods and services, including real estate, vehicles, jobs, and consumer products, operating primarily within India.[1] Founded in 2008 by Pranay Chulet and headquartered in Bengaluru, Karnataka, Quikr has grown into one of the country's leading digital marketplaces, facilitating transactions across more than 1,000 cities and serving millions of users through its consumer-to-consumer (C2C) and business-to-consumer (B2C) models.[1] The platform initially launched as a free classifieds service, evolving to include specialized verticals such as Quikr Cars for automotive listings and QuikrNXT for verified property transactions, emphasizing ease of use and local accessibility in a diverse market.[1] Over the years, Quikr has expanded through strategic acquisitions, completing 18 in total to bolster its offerings in areas like real estate, e-commerce, and home services, including notable purchases such as India Property in 2018 and Zefo in 2019.[2] Financially, Quikr has raised approximately $370 million in funding across 12 rounds from prominent investors including Tiger Global Management, Warburg Pincus, and Omidyar Network, reaching unicorn status in 2018 with a $1 billion valuation that peaked at $1.5 billion in 2019 before being adjusted downward, resulting in the loss of unicorn status by 2020.[3][4] In fiscal year 2024 (ending March 2024), the company reported its first-ever profit, with operational revenue of ₹45 crore, though it faced challenges including a 12% revenue decline and limited current assets of ₹20 crore, reflecting ongoing efforts to achieve sustainability in a competitive digital economy.[5] Quikr's recognition includes being named an AlwaysOn Global 250 Winner in 2010 and appointing celebrities like Ranveer Singh and Suriya as brand ambassadors to enhance its market presence.[1]Company Overview
Founding and Leadership
Quikr was founded in 2008 in Bengaluru, India, by Pranay Chulet and Jiby Thomas as an online classifieds platform aimed at addressing the lack of a localized equivalent to Craigslist in the Indian market.[6] The company originated as Kijiji.in, an eBay subsidiary, before being spun off and rebranded as Quikr to emphasize quick and efficient transactions in India's fragmented local trading ecosystem.[7] Chulet, inspired by his experiences abroad where platforms like Craigslist facilitated seamless peer-to-peer exchanges, sought to fill the gap in India by creating a user-friendly site for buying, selling, and renting goods and services.[8] Pranay Chulet, the driving force behind Quikr, is an alumnus of the Indian Institute of Technology Delhi and the Indian Institute of Management Calcutta, with prior professional experience in strategy consulting firms such as Mitchell Madison Group, PwC, and Booz Allen Hamilton.[8] Hailing from a small town in Rajasthan as the son of a government officer, Chulet moved to New York after his education, where he gained insights into digital marketplaces that motivated his return to India to build a platform tailored to local needs like vernacular support and mobile accessibility.[9] Jiby Thomas, Chulet's former colleague at eBay, served as co-founder and vice president of marketing, contributing to the platform's early positioning and user acquisition strategies.[6] Thomas departed Quikr in late 2012 to pursue a new internet venture, marking an early leadership transition.[10] Pranay Chulet has remained the long-term CEO, steering the company through its growth phases, while key executive hires such as P.D. Sundar as head of the services vertical in 2016 bolstered operational scaling.[11]Mission and Operations
Quikr's mission is to empower every person in India to independently connect with buyers and sellers online through a simple, accessible platform that facilitates local transactions without intermediaries.[1] This focus on direct peer-to-peer interactions aims to address everyday needs for buying, selling, renting, and discovering goods and services across various categories.[12] Headquartered in Bengaluru, Quikr operates as a private limited company under the name Quikr India Private Limited, with 136 employees as of June 2025 supporting its nationwide operations.[3][13] The business model centers on a free classifieds platform where users can post and browse listings at no cost, while generating revenue through premium features like verified listings, priority placements, advertisements, subscriptions, and value-added services such as lead generation.[14] This hybrid approach allows scalability for individual users and small businesses while monetizing enhanced visibility and trust-building tools.[15] The platform's geographic coverage spans over 1,000 cities, primarily targeting urban and semi-urban areas throughout India to cater to diverse local markets.[1] At its peak, Quikr boasted over 30 million monthly active users, enabling a vast ecosystem for community-driven transactions with safeguards like verified ads to promote safety and reliability.[16]Historical Development
Early Years and Launch
Quikr was launched on June 25, 2008, as a web-based classifieds platform following the rebranding of Kijiji India, an eBay subsidiary, into a free, city-focused community site designed to connect local buyers and sellers for offline transactions.[17] The platform debuted with categories covering household goods, automobiles, real estate, jobs, matrimonials, and community services such as events and classes, emphasizing ease of use for the Indian internet audience through a simple, user-driven interface built on a basic web technology stack.[17] Headquartered initially in Mumbai before shifting operations to Bangalore for access to talent, Quikr targeted 12 major cities at launch, including Bangalore, Mumbai, Delhi, Chennai, Hyderabad, Kolkata, Ahmedabad, Pune, Coimbatore, Chandigarh, Kochi, and Mysore, with plans for further expansion to eight additional locations.[17][18] The early years were marked by significant hurdles in a market with limited digital infrastructure, where internet penetration stood at approximately 4.4% of the population in 2008, far below global averages, and users relied heavily on print classifieds for local dealings.[19] Competition intensified with the entry of OLX in India in 2009, challenging Quikr's position in the nascent online space, while high SMS costs and low smartphone adoption limited digital engagement.[20] To address accessibility issues, Quikr focused on partnerships with telecom providers and eBay for backend support, enabling broader reach despite these constraints.[17] Key milestones from 2008 to 2010 included rapid establishment in core urban markets like Mumbai, Delhi, and Bangalore by 2009-2010, alongside recognition as an AlwaysOn Global 250 Winner for innovation and market potential in 2010.[1] By 2011, Quikr had solidified its India-centric model while exploring global branding elements through updated marketing, achieving shortlists for Red Herring Global and Young Turks Awards, reflecting sustained early growth amid operational scaling.[1]Expansion and Growth Phases
Following its initial launch, Quikr entered a phase of rapid expansion from 2012 to 2014, scaling its operations to cover hundreds of cities across India and diversifying into key verticals such as jobs and services. By 2014, the platform had attracted 32 million unique monthly visitors, reflecting strong market penetration in the online classifieds space.[6] The years 2015 to 2017 marked an aggressive growth phase characterized by vertical integrations, including the launch of QuikrHomes for real estate listings in September 2015 and expansions into home services to address consumer needs in housing and maintenance.[21] The user base surpassed 30 million by late 2015, solidifying Quikr's position as India's second-largest classifieds platform behind OLX, with the two together commanding over 60% of the horizontal classifieds market.[22][23] In 2017, Quikr extended its intercity services to over 900 cities, further boosting accessibility for cross-regional transactions.[24] From 2018 to 2023, Quikr shifted toward consolidation, emphasizing app enhancements such as the launch of Quikr Assured in 2018 for secure transactions across categories like real estate and consumer goods.[25] The platform continued to support vernacular languages, initially rolled out in 2015 with options like Hindi, Tamil, and others, to reach non-English speaking users in tier-2 and tier-3 markets.[26] During the COVID-19 pandemic in 2020, Quikr pivoted to contactless services and digital transactions, contributing to a V-shaped recovery by 2021 amid accelerated online adoption.[15] In fiscal year 2024, Quikr achieved its first annual profit of ₹2 crore, marking a significant milestone in its growth trajectory.[5] By 2015, Quikr had positioned itself as a dominant player in India's classifieds ecosystem.Funding and Financial Performance
Investment Rounds
Quikr has raised approximately $370 million in total funding across 12 rounds between 2008 and 2019.[3] The company attracted investments from 14 backers, including strategic players like eBay for its e-commerce marketplace expertise and Warburg Pincus for private equity support, among others providing technology and market growth insights.[27][28] The funding history began with early-stage investments to establish the platform. In early 2008, Matrix Partners India provided seed capital to launch operations as a spin-off from eBay's Kijiji service.[29] This was followed by a Series B round in July 2009, raising about $4 million (Rs 20 crore) led by Omidyar Network, with participation from Matrix Partners India.[28] Subsequent equity rounds scaled the business amid rapid user growth. In March 2010, Quikr secured $6 million in a Series C round from Norwest Venture Partners, Omidyar Network, Matrix Partners India, and eBay.[30] By May 2012, a $32 million round was led by Warburg Pincus, with existing investors Matrix Partners India, Norwest Venture Partners, and eBay also contributing.[31] Major growth capital arrived in 2014, marking Quikr's entry into unicorn status. In March, Kinnevik led a $90 million round, joined by Nokia Growth Partners, Norwest Venture Partners, and Omidyar Network.[32] In September, Tiger Global Management invested $60 million, pushing the post-money valuation to $1 billion.[33][34] The largest round came in April 2015 with $150 million from Tiger Global Management, Kinnevik, and Steadview Capital, solidifying the $1 billion valuation and supporting vertical expansions.[35] Later financing shifted toward debt to optimize capital structure amid market shifts. In December 2018, InnoVen Capital provided Rs 55 crore (about $7.5 million) in venture debt. This was followed by $2.9 million in debt from Trifecta Capital in July 2019 and a small angel round of $0.1 million shortly after.[5] Quikr's valuation peaked at $1 billion in 2014 but faced downward adjustments post-2018 due to market corrections and investor revaluations, with Kinnevik marking a significant reduction by late 2019 to approximately $565 million, resulting in the loss of unicorn status. No new equity funding has been raised since 2019 as of November 2025.[36][37]| Date | Round Type | Amount | Lead Investors | Key Participants | Valuation (Post-Money) |
|---|---|---|---|---|---|
| Early 2008 | Seed | Undisclosed | Matrix Partners India | - | - |
| July 2009 | Series B | $4M | Omidyar Network | Matrix Partners India | - |
| March 2010 | Series C | $6M | Norwest Venture Partners | Omidyar Network, Matrix Partners India, eBay | - |
| May 2012 | Series D | $32M | Warburg Pincus | Matrix Partners India, Norwest Venture Partners, eBay | - |
| March 2014 | Series E | $90M | Kinnevik | Nokia Growth Partners, Norwest Venture Partners, Omidyar Network | - |
| September 2014 | Series F | $60M | Tiger Global Management | - | $1B |
| April 2015 | Series G | $150M | Tiger Global Management, Kinnevik | Steadview Capital | $1B |
| December 2018 | Debt | $7.5M | InnoVen Capital | - | - |
| July 2019 | Debt | $2.9M | Trifecta Capital | - | - |