MUMBAI: Tiger Global is leading a $150-million (Rs 950 crore approximately) financing round in online classifieds major Quikr, valuing it at a billion dollars post the investment
Quikr will join the fast-expanding list of privately held domestic tech unicorns, companies valued at over $1 billion, as an unprecedented amount of investor money flows into the Indian consumer internet sector. Others in this exclusive club include the likes of e-commerce biggie Flipkart, Snapdeal, taxi aggregator Ola (post its new round), data cruncher Mu Sigma and mobile ad network InMobi.
The new round will likely be Tiger’s largest investment ($110 million overall) in a domestic internet startup after Flipkart, in which it has pumped in over $700 million
Quikr had raised $60 million in September last year, led by Tiger Global, at a valuation of $400 million. The New York-based investment fund has funnelled more than a billion dollars across two dozen consumer tech ventures, out of which three (Flipkart, Ola, Quikr) have been accorded the unicorn status.