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Quikr has acquired on-demand services player Zimmber, to further scale its hyperlocal household services business
The company 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.
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.
It is to be mentioned that 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 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.