Quikr Acquires Zimmber
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 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 similar to its Bangalore entry done via Quikr. Zimmber has raised over $7 million in funding from IDG Ventures India, Omidyar Network, Sherpalo Ventures and Aarin Capital. A senior executive at the firm told ET that inability to grow to scale was one of the key drivers for Zimmber’s sale to Quikr. Quikr has bundled all its beauty services into its AtHomeDiva platform while full-stack services will now be offered solely through Zimmber. The other model in the category is that of listings through the marketplace model that covers on-demand driver, mobile repair and interior decoration services amongst others. 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 for the company.
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