“All good things in life take more time and money than you think,” told Pranay Chulet, CEO of online classified platform Quikr, to a rapt audience at the recently held Mumbai INKTalks on Saturday ( October 17). Surprisingly, the CEO of the tech startup valued at about $1 Bn was not referring to Quikr when he said this. He instead was talking about an interactive movie that he had made in 2005 while his stint in the US as a management consultant for a media company.
The session was a revelation of the importance of creativity in his journey as an entrepreneur, which he aptly started by saying, “I am an entrepreneur because I am a creator. All through my life, if there is one thread that’s common, it’s the thread of creating something.” It is this thread which goaded him to learn filmmaking while in the US and then propelled him to launch Quikr in 2008, inspired by his experience with Craigslist whilst making his movie.
Acknowledging that Craiglist the inspiration behind Quikr, Pranay stated, “I noticed at that time, such a platform did not exist in India and it totally came from an unrelated area. In fact, in a week or two, we will be announcing an investment in an entertainment marketplace, so we can say that in life is coming full circle for us.”
When asked about the Indian market in general and the competitive landscape in terms of pre-owned goods, Pranay stated that there is growth because of the external non –India factors such as China and it will see its ups and downs. “But if you see the tail wind from the consumer’s side, it is pretty strong and a lot of businesses including ours are benefiting from it and will continue to grow fast.”
He added that in the last 12-18 months, Quikr’s playground has become a lot broader. Though it sees key competition from Olx, but then they are one of the many it is competing with. Quikr closely competes with Olx in the C2C transactions space.
“But down the line, I have realized that people are not realizing how big Quikr is be it homes, or cars, or jobs, or services, which is why we undertook this verticalization thing. So now, besides them, we have competition from 99acres, MagicBricks and Carwale among others. In services and jobs we don’t see much competition as the companies are operating in those categories are still smaller, younger startups.” he said.