Startups

On Demand Services Platform Zimmber acquired by Quikr for $10M

Online classifieds player Quikr has acquired on-demand services player Zimmber, to further scale its hyperlocal household services business.

Quikr did not disclose the financial terms of the deal but the acquisition has been made at over $10 million in a largely stock-based deal with a 10% cash component, said a person aware of the development.

Zimmber is Quikr’s fourth acquisition for its services category which has seen the company buy Salosa, Zapluk and StayGlad in the beauty services space last year. Zimmber is Quikr’s first horizontal acquisition in this category.

This acquisition will help Quikr accelerate its growth in household services and continue to progress towards its goal of organizing this fragmented category.

“The acquisition allows us to further scale our deep stack service capabilities and provide a superior service experience to Quikr users for their high frequency daily needs such as plumbing, cleaning etc. This category perfectly complements our existing marketplace solution for one-off service needs such as interior design, packers and movers etc,” said PD Sundar, Head of QuikrServices.

Quikr, which competes with Olx in the classifieds space, has been on an inorganic growth spree over the last 2 years in a bid to bolster its revenues across its key verticals. Jobs, Homes, services, auto and consumer services are the key areas of focus for the Tiger Global and Kinnevik AB backed classifieds major.

The acquisition will see over 1500 service providers of Zimmber get onto the Quikr platform with the former completely handling the full-stack services for the unicorn. Zimmber will enter newer geographies through this acquisition with Bengaluru being the first stop.

As part of the deal, Zimmber’s COO Amit Kumar and Chief Product Officer Siddhartha Srivastava will join Quikr’s team. CEO Anubhab Goel will be joining the financial services corporate industry in the role of a mentor to incubate startups.

SOURCE – STARTUPWALA.COM

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