Quikr merges CommonFloor.com with its real estate vertical

India’s cross category classifieds business Quikr on Thursday announced that it has merged CommonFloor.com with its real estate vertical QuikrHomes to create an industry leader in online real estate.

The move is an important step in Quikr’s strategy to create industry-leading verticals in categories in which it has always operated. This is Quikr’s fourth and the biggest strategic move in the real estate category since the launch of QuikrHomes about four months ago.

According to a press release, the merger, which is expected to be completed over the next two to three months, will give CommonFloor.com access to Quikr’s 30 million consumers and harness the potential of the cross category nature of the platform, while QuikrHomes will benefit from CommonFloor’s structured data and domain expertise.

The company will continue to operate both brands in the market and honour the commitment towards their respective customers.

Commenting on the development, Pranay Chulet, Founder & CEO, Quikr said, “We see great synergies between us and CommonFloor. We both believe in creating businesses that are strong on growth as well as monetisation and have a tremendous cultural fit. With a highly successful recent campaign, launch of industry defining Street Vision, and now today’s announcement, QuikrHomes is off to a great start in 2016.”

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Sumit Jain, Co-founder and CEO, CommonFloor.com said, “This merger creates a strong industry leader and gives us a very strong platform to grow the business further. Our obvious synergies will benefit consumers, property developers, as well as our real estate partners, who are all key to the progression of the online real estate ecosystem.”