Online Classified Portal Quikr valuation soars to $1.5 billion
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Online Classified Portal Quikr valuation soars to $1.5 billion

Quikr Valuation- Next Big Brand
Pritish raj
Written by Pritish raj
[email protected] | Noida | Published on: October-16-2019 01:00 PM
  • Online classifieds portal Quikr’s valuation is pegged at about $110,832.15 crores ($1.5 billion), according to an independent valuation report submitted on 7 May 2019 by the company with the Ministry of Corporate Affairs (MCA).
  • The report, prepared by Quikr’s auditors in November 2018, estimated that for the financial year ended March 2019 (FY 2018-19), the company would turn into an operating loss of about $2230.09 crores ($32 million).

Online classifieds portal Quikr valuation is pegged at about $110,832.15 crores ($1.5 billion), according to an independent valuation report submitted on 7 May 2019 by the company with the Ministry of Corporate Affairs (MCA).

The report, prepared by Quikr’s auditors in November 2018, estimated that for the financial year ended March 2019 (FY 2018-19), the company would turn into an operating loss of about $2230.09 crores ($32 million).

On the other hand, as of June 30, 2019, Swedish investor AB Kinnevik, a major shareholder in Quikr, pegged the value of the company down to $921 million.

Kinnevik, who owns a 17% stake in Quikr, said its holding had a fair valuation of 1,542 million Swedish Kroner ($156.7 million) for the quarter ended June 2019 (Q2FY19), according to its quarterly interim report.

The Kinnevik report also claimed that for the first half of 2019 (H1 2019), Quikr generated approximately $65 million (almost 465.13 crores) in “annualized cash sales at a growth rate of just under 70 percent year-on-year.” In the financial year ended March 2018 (FY 2017-18), Quikr posted revenue of some $199.98 crores. “More than half of Quikr’s revenue is now generated from commissions on transactions that take place.

According to the valuation statement of its auditor, Quikr is also expected to return a negative net cash flow of some 153.69 crores for FY19. It means that Quikr may have more cash outgoing than incoming money on its balance sheet, suggesting that the company may have to raise additional funds earlier.

Up to now, Quikr has raised over $440 million from investors including Warburg Pincus, Tiger Global, Norwest Venture Partners, and Omidyar Networks. Quikr last received some 20 crores of Trifecta Capital debt funding in July.

In a Series H round in April 2015, Bengaluru-based Quikr also raised $150 million from Kinnevik, Tiger Global and Steadview Capital in a round worth almost $1 billion for the venture. In September 2018, Quikr was raising between $100 million and $150 million in talks.

Quikr has gradually expanded into numerous vertical classifieds, including vehicles, real estate, employment, utilities, and customer-to-customer sales. Each vertical segment has its own business head which directly reports to the Chief Executive Pranay Chulet.

Since its inception in 2008, the company has also been on an acquisition spree. It has spent millions on the acquisition of 15 companies, mostly in stock. The biggest purchase in January 2016 was that of the CommonFloor real estate website, for an estimated $120 million. Quikr also purchased Zefo’s rehabilitated products marketplace for $30 million in April earlier this year.

About the author

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career.
Highly enthusiastic about brands and startups, he aims to be a travel content creator.

9113327413 | A-73, Hackerspace, Noida sector- 2 Noida UP 201301

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