Update : The deal is done. Quikr has acquired Commonfloor.
There were rumors of Quikr acquiring Commonfloor earlier last month. We have learned from several sources that the deal has been called off.
One of the reasons cited for the deal to be called off is the equity-cash ratio breakup offered by Quikr.
Yesterday, Commonfloor leadership team held a townhall meeting to assure employees that things are fine and that they have enough cash at hand for 15 months runway.
Commonfloor’s Strength : Data Collection & Research
One of Commonfloor’s strength lies is in data collection/research and we have learnt that 2 of top Commonfloor’s data team leaders have joined QuikrHomes few weeks back.
This might have given Quikr a definite edge in data collection and could be one of the reasons for Quikr to not negotiate further.
Commonfloor has in total raised $62mn and Quikr recently raised $150mn to expand in other categories like real estate and jobs.