Quikr Raises USD 6 Million Series C Funding Led by Norwest Venture Partners (NVP)

Quikr, India’s leading horizontal classifieds player, announced today the completion of a USD 6 million third round of funding in Quikr Mauritius (a holding company of Quikr India) led by new investor, Norwest Venture Partners (NVP), and returning investors, Omidyar Network, Matrix Partners India and eBay Inc.  With this round of financing, Quikr has raised in excess of INR 50 crores in total investment since inception.

Quikr raised 20 Crores from Matrix India and Omidyar Networks in July of 2009 and another funding within 10 months speaks of the money company has invested [in adwords].

Quikr offers a web-based classifieds platform that addresses the needs of local communities in 40 cities across India and claims more than 8 million consumers visit every month.

What do you think about Quikr’s free ad posting model? Is it sustainable? Can they really rely on Google Adsense for monetization?

Read: Online classifieds industry in India – Market research/report

Comments

  1. Tarun Anand

    Well, I think they may want to look at channels other than web. Web in India is notoriously hard to monetize. Classifieds is the low end unlike local search.

    Also, a company can expand to other markets/adjacent markets. Why stick to classifieds alone?

    Tarun

  2. Pradeep

    Quikr have started charging for premium ads now and for each ad you post in Mumbai it gives you the option to make it appear as a premium ad, so they are looking for other way to monetize apart from google adsense.

  3. Devesh Sharrma

    I am alawyas amazed at the level of investement put in these classified companies. Maybe, I’m a newbie, but how the heck can you be consistently generating revenue – you put up ads in adwords and you claim some of it back via Adsense? Sounds a bit like looping money around google inc. :P

    Even with “premium” ads, i doubt you will get enough traffic to pay back your investors.

    The only bet I see here is to get enough web traffic and then think of how to eventually facilitate transactions (like ebay), try and seel them other stuff or something else to use the masses.

    Anybody got wiser thoughts?

Leave a Comment