Cross category classifieds company Quikr has acquired Stepni, a platform that connects vehicle owners with the service providers nearest to them.
With this move, Stepni’s founders and team will join QuikrCars. The overall platform integration will help QuikrCars consumers shortlist service providers that can ensure the best service for their vehicle within 5 kms of their location.
The move is aimed at strengthening its service offerings under QuikrCars. It was launched in April 2015 and focusses on all types of automobiles including cars, bikes and commercial vehicles. It also opens cross-selling opportunities for QuikrServices, the vertical that provides a range of services to consumers.
Talking about the acquisition, Atul Tewari, Head of QuikrCars and COO, Quikr said, ” Stepni’s business model will now allow us to develop a longer term relationship with car owners as opposed to only at the point of buying-selling. We plan to scale vehicle maintenance services to all major cities over the next three months. ”
Founded by Vinay Singh and Nikhil Nair in October 2015, Stepni connects users to garages and mechanics around them, for car servicing and repair needs (fixing dents, part replacements, among other things). It is currently operational in Bengaluru through a partner network of over 125 service centres across the city.
Founded by Pranay Chulet in 2008, Quikr claims to have a user base of over 30 Mn per month. It is present in 1000 cities in India and operates across several classifieds businesses including C2C, cars, education, homes, jobs and services. It operates in 14 categories that include mobile phones, household goods, cars, real estate, jobs, services, and education. It is backed by investors including Tiger Global Management, Kinnevik, Warburg Pincus, Matrix Partners India, Norwest Venture Partners, Nokia Growth Partners, Steadview Capital, Omidyar Network, and Ebay Inc.
QuikrCars has over 1.5 Mn vehicles listed on its platform across India. It claims to have the largest inventory of consumer inspected vehicles on its platform along with feature comparisons across models. It also offers RTO assistance and a localised discovery module that shows recently posted and trending vehicle models around a particular location.
In January 2016, Quikr acquired online realty portal CommonFloor in a stock-and-cash deal for $200 Mn. Following that, in March, it launched Quikr Doorstep for C2C buying and selling of pre-owned goods. In July, Quikr acquired Bengaluru-based online recruitment firm Hiree for an undisclosed amount. In August 2016, Quikr raised $19.4 Mn (INR 130 Cr) in a debt financing round led by Brand Capital, the private treaty arm of media company Bennett, Coleman and Co. Ltd (BCCL).
