JustDial to launch Quickquotes, reverse auction service enabling users to access quick quotes from nearby vendors

Online classifieds firm Justdial is planning to launch Quick quotes, a service that will enable users to access instant price quotes of products they want to buy from the nearby vendors within few minutes, reports Medianama.

The service can be requested over email and mobile phones free of cost. Quick quotes will be launched at http://quickquotes.in, which is currently not accessible (requires authentication). However, the service is slated to be launched in Mumbai first and then would be rolled out in other cities.

How Quick quotes works?

Call / SMS on 08888888888 or 69999999 or browse www.quickquotes.in and ask for the product that you wish to buy. Price quotes will be sent to you via text messages or email. In case, if the vendor revises his quote, Quick quote would text or email you to update about fresh quotes.

The launch can be seen as an extension of JustDial’s recently launched website for businesses to buy leads where it charges Rs 10 per lead. As the Quickquotes will be free for consumers, JustDial is likely to charge premium pricing from vendors in a strategy similar to how it generates leads.

Earlier, a similar sort of service was launched by Mumbai based PriceBaba that collates information from offline retailers and recommends stores to the users online. Currently Pricebaba only deals in gadget category, store recommendation. It also has a price history tool that highlights the price fluctuations for a given gadget.

Given that JustDial has deep existing relationships with stores and service providers in the market, could this become a major marketplace (with reverse auctions) play online, as well as over the phone? Earlier, Future group had acquired Chaupaati Bazaar, a phone commerce marketplace to foray into ecommerce business.

However, Justdial already has a Reverse Auction service (link) which enables customers to negotiate with vendors – so maybe, Quick quotes is the polished/branded version being launched to match with IPO timing?

Meanwhile, to facilitate an exit for its existing investors who have poured in a total of Rs 580 crore into the company so far, JustDial once again filed its draft red herring prospectus (DRHP) for an initial public offer (IPO) with SEBI. The Sequoia backed company will not get any money out of this public offering as the shares that will be sold through the offering belong to investors looking to exit.