Quickr is going to buy housing.com. During its last round of funding in November,
Housing was valued at Rs 1,500 crore ($250 million).
For Quikr,
which is one of the eight so-called Indian 'unicorns' with billion-dollar
valuations, the addition of Housing will open up a new revenue stream and add a
well-known brand to its portfolio.
Earlier this
year, Quikr founder Pranay Chulet said the company will hire 500 people to beef
up its online real estate business, Quikr-Homes.com For the investors in
Housing, the deal will give them a chance to be a part of a larger business and
cut their losses in a company whose fortunes have dwindled rapidly because of a
spate of controversies triggered mostly by Yadav. Yadav, who led a dozen
college-mates from IIT-Bombay to start Housing in 2012, has had public spats
with venture fund Sequoia Capital and disparaged the intellectual worth of
investors in his company. He resigned at the end of April, but was asked to stay
on by the board which appointed a committee to oversee operations
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