Startup Story of Quikr: Quikr was founded in 2008 by Pranay Chulet and Jiby Thomas in Mumbai. Its main objective was to provide users with an online platform where they can easily buy sell or rent goods and services. The platform offers services in various categories such as mobile phones household goods cars real estate jobs services and education.
Introduction to the Founders
Pranay Chulet worked in various companies in New York after completing B.Tech from IIT Delhi and MBA from IIM Calcutta. There he consulted in the media and banking sectors. Jiby Thomas is also a graduate from IIM Calcutta and has been part of the founding team of companies like Baazee and Kijiji India.
Since its inception Quikr has grown rapidly. In 2014 the company received an investment of $150 million with contributions from investors such as Tiger Global and Kinnevik. Subsequently Quikr acquired companies such as CommonFloor Hiree and HDFC Realty thereby expanding its services.
Challenges and Solutions
In the initial phase Quikr faced challenges such as the financial crisis and the low number of internet users in India. However with time the number of internet users increased and the company improved its services making it a major player in the Indian online market.
Today Quikr is one of India’s leading online classifieds platforms offering services across various categories. The company has made several innovations to provide its users with a convenient and secure platform making it popular among Indian consumers.
