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?