Quikr India Pvt. Ltd Increases Upto Rs.130 Crore From Brand Capital
BCCL Invests Rs.130 crore in Quikr
A huge development of Quikr reveals recently, the online classifieds firm is trying its best to get a unicorn status. It has increased up to Rs.130 crore from BCCL, as per the filed documents with the Registrar Companies, Brand Equity Treaties Ltd that owns Brand Capital has invested Rs.130 crore in Quikr India by the means of 143,000 complete exchangeable debenture at Rs.9,038 a piece and one equity share of the same price. Also, BCCL will have to publish ads in its media networks like Times Now channels, ET Now, The Economic, The Times of India and the Times newspapers for a fixed number of years.
Path of Progress
BCCL is well-established in the ecosystem of domestic start-ups. One of its internet arm, Times Internet Ltd, has recently invested in at least 20 start-ups in a couple of years previously. Moreover, the group has one of its own online shopping sites called Indiatimes Shopping. It also owns Magicbricks, a real estate listings website and Gaana, a digital music start-up.
Quikr is now focusing on developing five business divisions like real estate, automobiles, services, jobs and customer-to-customer sales to raise its revenues and to fend off the competition from the other venture capital-backed companies that have already emerged in such categories. The online classified firm has been investing assertively in creating these verticals both by making strategic investments and acquiring companies.
How is Quikr going to take benefit of this huge investment by BCCL? Please share your thoughts in the comments section below.
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