Quikr acquires Zefo for $30 m

In line with its overall strategy of going deeper into its five key verticals, unicorn classifieds start-up Quikr announced that it has acquired Zefo to scale up its pre-owned goods business Quikr Assured. Though financial details were not disclosed, sources privy to the transaction told BusinessLine that Zefo was acquired for $30 million in a cash and stock deal.

This is Quikr’s 15th acquisition since its inception in 2008 and its first in the pre-owned goods vertical QuikrBazaar, where users can buy and sell used goods. The start-up has invested around $250 million in acquiring these 15 companies. Of these, seven companies were acquired to grow its QuikrHomes/Real Estate vertical, three in beauty services plus a fourth to grow its QuikrEasy vertical, two for its QuikrJobs vertical, one for its QuikrCars vertical and now Zefo for its QuikrBazaar vertical.