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Quikr has acquired home services startup
Zimmber for about $10 million in an all-stock deal. The Mumbai-based Zimmber, is Quikr’s tenth acquisition since its incorporation.
In home services vertical only, Quikr has made four acquisition in the last 12 months, in an attempt to strengthen its position in the segment. Earlier, it had acquired home beauty startups Zalosa, Zapluk and Stayglad in quick succession last year.
Founded in April 2014, Gaurav Shrivastava, Anubhab Goel and Amit Kumar, Zimmber has so far raised about $7.4 million from venture capital firms including IDG Ventures, Aarin Capital and Omidyar Network, as well as angel investors including InMobi co-founders Naveen Tewari, Mohit Saxena and Amit Gupta, and the former managing director of Jabong, Praveen Sinha. Zimmber had also acquired few startups in last two years such as laundry startup Dhulai, white-collar service provider FindYahan, and home beauty service provider Glamnfit.
In the last five years, more than 270 home services startups have emerged in India, according to a report by Tracxn, however only few have been able to raise significant funds from VCs including UrbanClap and HouseJoy, which have so far raised $35 million and $27 million respectively.
Quikr had recently acquired GrabHouse, an online accommodation rental startup in November 2016, and had also added startups like Stayglad, Stepni.com, Zapluk, Hiree, Salosa and CommonFloor under its umbrella last year. The company’s total revenue rose 44% to Rs 94.5 crore in 2015-16 from Rs 52.5 crore in the previous fiscal year.
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Soumya is a young writer and journalist, with bachelors in Multimedia and Mass Communication. She is an alumini of the Asian College of Journalism, and finds politics and sustainability intriguing beats to work with.
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