Warburg Pincus invests $32 mln into Quikr

Posted By: Religare
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Warburg Pincus invests $32 mln into Quikr
An Indian online classifieds company, Quikr, has received funds worth USD 32 million from US based private equity firm Warburg Pincus and investor like eBay Inc, private equity Matrix Partners India and global venture capital firm Norwest Venture Partners.

India's share of ecommerce is still miniscule but with rising disposable incomes and internet penetration, more and more middle class Indians are looking to shop from the comfort of their homes. The internet push will increase India's current share of ecommerce business from USD 10 billion and Quikr is all set to guide it beyond those figures with its easy to use classified format.

Quikr earns its revenues from premium services as well as advertisements on its Web site and has 7 million unique individuals and small businesses using it across 83 cities every month.

Dion Global Solutions Ltd

Read more about: online, quickr
Story first published: Tuesday, May 22, 2012, 23:33 [IST]
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