Commonfloor, a very close competitor to Housing.com, has been rumored to be acquired by one of the India’s leading classified platforms – Quikr, for a reportedly $200 Million.
Started in 2008, by Lalit Mangal, Vikal malpani and Sumit jaib, CommonFloor has been offering home seekers, sellers and real estate professionals – an extensive online real estate ecosystem, where they can conduct exhaustive research regarding options for both renting and buying property, access apartment and locality reviews, and get notified about comprehensive and verified data base of apartments across India. Apart from a robust search mechanism Commonfloor has also maintained a vast repository of research on a host of property related matters ranging from legal issues to maintenance to facility management to home insurance among many others.
In 2013, they raised a funding of $7.3 Million, followed by $10.4 Million and $30 Million in 2014, and $15 Million in 2015.
“We are in the middle of fund-raising and there are multiple options on the table. We have not yet finalised one. We are working on multiple levels to ensure our growth takes place in a sustained manner. As a company policy, we do not comment on speculations, therefore, kindly hold on as we will inform all the stakeholders when the time is ripe. We are committed to our vision of organising real estate industry in India,” CommonFloor told Inc42, refraining to make any official announcement.
Quikr, on the other hand, was launched in 2008, operates from 940 cities across India and is accessed by more than 30 million unique users and 26 million brand new customers per month. They have over 13 categories and 170 sub-categories, with the most popular being mobile phones and electronics, real estate, cars and bikes. They have raised investment from Kinnevik,Matrix Partners India, Omidyar Network, Norwest Venture Partners, Nokia Growth Partners, Warburg Pincus and eBay Inc. as well.
“As part of our verticalisation strategy, we are strengthening our focus in our largest markets such as C-2-C, Cars, Real Estate, Jobs and Services. However, we cannot comment on market speculations at this stage,” Quikr told Inc42 in response to the speculations.